Years ago, your FICO score was a secret that lenders didn’t want you to know. Then the Fair Credit Reporting Act enabled you to request your credit score from the credit bureaus, but you had to pay for it. Now we’re in the free score era.
In 2013, Fair Isaac Corp., the company that created the FICO score, launched its FICO Score Open Access program, which allowed lenders to give their customers free FICO scores.
The next year, the Consumer Financial Protection Bureau called on major credit card issuers to offer free credit scores to their customers, and many of them now do. Here’s where the largest credit card issuers stand:
Which credit card issuers offer free scores?
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| | Customers with consumer credit accounts |
Note: FICO scores provided by different credit card issuers may vary. That's because issuers get FICO scores from different consumer credit bureaus. Each bureau collects consumer account data independently, and it calculates scores based only on the data it has collected. |
As the table shows, some issuers are even going beyond their own cardholders. Capital One offers free VantageScores to anyone, and Discover gives free FICO scores to anyone.
Why should you check your score?
Knowing your FICO score has a number of benefits. First, most lenders in the United States use FICO scores when deciding whether to extend credit. With access to a score based on the same models that bankers and card issuers use, you’ll have a better sense of where you stand in their eyes.
Also, if you’re working to improve your credit, checking your FICO score every month is a great way to gauge your progress. It’s gratifying to see that your hard work is paying off. On the flip side, it’ll be easier to spot credit mistakes when you make them and adjust your habits accordingly.
Finally, keeping an eye on your FICO score is a good way to spot trouble. Your FICO score is determined by the information on your credit report. If you fall victim to identity theft or a credit reporting error, this will likely show up in your FICO score. Although it will still be beneficial to check your three credit reports at least once per year — which you can also do for free at AnnualCreditReport.com — seeing your FICO score every month is a good early warning system if things start going off the rails.
Why aren't your scores exactly the same?
Here’s where it gets tricky: You don't just have a single FICO score. Each of the three major credit reporting bureaus — Equifax, Experian and TransUnion — collects data independently and scores you based on its own data. Credit card issuers don't all use the same score from the same bureau.
Usually, all three FICO scores will be pretty similar. But the upshot is that if you apply for a big loan, like a mortgage, don’t be surprised if the scores your lender is looking at aren’t the same as what you’re seeing at your credit card issuer’s site.
The bottom line: Knowledge equals power
Having your score readily available gives you more power over your financial life. Your credit report is made up of all kinds of sensitive information that can have a powerful impact on your finances, and greatly impact your credit score. It’s important to check that the data is correct and up to date, and most major issuers now make this free and easy to do.
FAQs
Step 1 – Check with your bank or credit union
Hundreds of banks and credit unions partner with FICO through its Open Access Program. If your bank or credit union partners with FICO, log in to your account online. You will likely be provided with a free FICO Score.
What banks offer free FICO score? ›
Which credit card issuers offer free scores?
| Issuer | Free Credit Score Type | Who Can Get It |
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| Chase | VantageScore 3.0 | Anyone |
| Citi | FICO | Some accounts |
| Discover | FICO | Cardholders |
| US Bank | VantageScore 3.0 | Account holders |
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Simply put, there is no “more accurate” score when it comes down to receiving your score from the major credit bureaus.
Which credit bureau gives a FICO score? ›
In the U.S., there are three national credit bureaus (Equifax, Experian and TransUnion) that house credit histories on most of us. Each of these agencies uses the FICO® Score algorithm to produce a version of the FICO® Score based on the data they collect on each consumer.
How can I get myFICO score for free without hurting my credit? ›
Many credit card issuers and banks provide free credit scores to their customers. Personally checking your credit score won't affect it. Nor will checking your own credit report. However, when you apply for credit, the lender will make a so-called hard inquiry, which can lower your score a bit.
Is Experian FICO score really free? ›
Get your FICO® Score* for free and see how you can improve it. Credit score calculated based on FICO® Score 8 model. Your lender or insurer may use a different FICO® Score than FICO® Score 8, or another type of credit score altogether.
Is my Citibank FICO score accurate? ›
The FICO® Score Citi provides is based on information from your Equifax credit report based on the “as of” date included with your score. This may differ from scores you obtain elsewhere that may have been calculated at a different time using information from a different credit bureau or even a different score model.
Does Chase give FICO score? ›
You can get your free credit score through Chase Credit Journey—which helps manage your credit score—by enrolling through the Chase Mobile® app or on chase.com. You'll be able to access your credit score, credit report and other helpful tools to assist you with your financial journey.
What is the best free credit score check? ›
What Is the Best Site to Get Your Free Credit Score? Generally, Credit Karma is the overall best site in terms of getting free credit scores and free credit reports.
What FICO Score do most banks use? ›
While most lenders use the FICO Score 8, mortgage lenders use the following scores:
- Experian: FICO Score 2, or Fair Isaac Risk Model v2.
- Equifax: FICO Score 5, or Equifax Beacon 5.
- TransUnion: FICO Score 4, or TransUnion FICO Risk Score 04.
The most widely used model is FICO 8, though the company has also created FICO 9 and FICO 10 Suite, which consists of FICO 10 and FICO 10T. There are also older versions of the score that are still used in specific lending scenarios, such as for mortgages and car loans.
Where is the best place to get my FICO score? ›
The first place you should check for your free FICO Score is with your credit card issuer. Many card issuers provide their cardholders with free access to their credit score. While there's a good chance you'll have access to your credit score, the key is whether it's your FICO Score or VantageScore.
What credit score is needed for a 300k house? ›
Federal Housing Administration (FHA) loans need at least a 580 FICO Score with at least a 3.5% down payment (which amounts to $10,500 on a $300,000 home). Conventional loans require a minimum FICO® Score of 620 along with a 3% down payment (which amounts to $9,000 on a $300,000 home).
Is a FICO score of 8 good or bad? ›
FICO 8 scores range between 300 and 850. A FICO score of at least 700 is considered a good score.
What credit score is needed to buy a house? ›
For a conventional mortgage in California, you typically need a minimum score of at least 600. If you qualify for certain government-backed loans, however, you may be able to buy a home with a score as low as 500.
How do I get my actual FICO score? ›
If your bank, credit card issuer, auto lender or mortgage servicer participates in FICO ® Score Open Access, you can see your FICO ® Scores, along with the top factors affecting your scores, for free.
How do I find my accurate FICO score? ›
There are a few main ways to get your credit scores.
- Check your credit card or other loan statement. Many major credit card companies and other lenders provide credit scores for their customers. ...
- Talk to a nonprofit counselor. ...
- Use a credit score service.
Learn about your credit report and how to get a copy
- Online by visiting AnnualCreditReport.com.
- By calling 1-877-322-8228 (TTY: 1-800-821-7232)
- By filling out the Annual Credit Report request form and mailing it to: Annual Credit Report Request Service. PO Box 105281. Atlanta, GA 30348-5281.
Though Credit Karma does not currently offer FICO® scores, the scores you see on Credit Karma (VantageScore 3.0 credit scores from TransUnion and Equifax) provide valuable insight into your financial health. It's important to keep in mind that no one credit score is the end-all, be-all.
