Much has been written on this site about credit score, and how important they are. For one, they determine whether or not you can get approved for those credit cards you so need! The best cards for rewards, miles, and points are the ones that are offered to those with excellent credit (at least above a 650 FICO score).
So, how do you check your FICO score? It used to be much more difficult, involving a reporting service that cost $20 a month or more (and that was only for one of the reporting agencies, there are three in total). Not anymore! There are multiple ways to check your score for free nowadays (or at least get a very close estimate). This post will detail some strategies in doing just that!
Recently, credit card companies have begun offering free FICO credit score monitoring as an added benefit of cardmembership. If you own a Discover credit card (including the no annual fee Discover It credit card), you’ll receive a free FICO score on every monthly statement they mail out to you.
Furthermore, Barclays offers it to its members, but only in your online account, not on your printed monthly statement. The Barclaycard Arrival World Mastercard would be an example of a card that you could receive free monitoring. Finally, First Bankcard offers FICO scoring free for its cardmembers as well.
Barclaycard ArrivalTM World MasterCard®
Barclaycard Arrival PlusTM World Elite MasterCard®
Credit Sesame emerged a few years ago as an alternative to constantly monitoring your credit score via one of the issuing banks, since that was a fee-based service. Credit Sesame instead estimates your credit score (fairly accurately, I might add), and does not cause a ‘hit’ on your score by inquiring what it is (which is about 10% of your total FICO score). You’ll also receive a monthly credit score with the service. They also allow you to manage all your credit and debts in one place, making your life a lot easier, trust me! The site also makes recommendations on how to lower your debt, get the best loans for your score, and is 100% free!
Why It Matters
These are only a few options available to you credit card fiends out there to find out just what exactly your FICO score is. The important takeaway from all of this is to make sure that your credit stays in an area that you feel comfortable with. We can’t control what we have done in our past, like bankruptcies or missed payments, but the beauty of the system that FICO has established is that it allows for people to improve their scores over time.
Whether it be your credit card company or a specially built website for this purpose, knowing your score is important, and arms you appropriately when it comes time to decide what credit card is next for your wallet, or when it comes time to get a loan to buy a new home or car. Your FICO score is certainly a little mystifying, but hopefully this article has informed you with ways to reduce the haze a bit when it comes to knowing your credit worthiness!