Free FICO Scores?
Over half of all Americans say that they have no idea what their credit scores are. This isn’t surprising; until fairly recently, those scores and the factors that affected them were carefully guarded secrets. As consumer credit protections were made stronger by the FCRA and other laws, credit reporting agencies have gradually demystified what makes good credit.You can now get your credit reports free one time per year. But, to see your FICO score you have always had to pay a fee or sign up for a free trial of FICO’s monthly monitoring service. But now, FICO is partnering with banks to give you free access to your score as soon as a bank requests it. So far, Discover, Barclaycard and First Bankcard have signed on to the program, and more banks are expected to join. Discover will provide your FICO score each month on your statement. The service will be offered to Discover It holders starting this month and other Discover card members later on.