When you need to find out your credit score, myFICO.com is the place to go on the Internet.
MyFICO.com was named as the best place to go on the Internet for your credit score by no less of an authority than Kiplinger.com, trusted for its personal finance and business forecast information.
“A crystal ball isn’t necessary to find this magic number,” wrote Kiplinger.com. “It costs $15.95 to get your FICO score from Fair Isaac, the company that compiles the most widely used credit score. The site includes advice on boosting your score.”
FICO is a publicly-traded corporation (under the symbol “FIC”) that invented the best-known and most widely used credit score model in the United States. The FICO score is calculated statistically, with information from a consumer’s credit files, and is primarily used in credit decisions made by banks and other providers of secured and unsecured credit.
Banks and other institutions use it to help make lending decisions as a snapshot of risk. Generally speaking, the higher your FICO score, the more likely it is that terms of a loan offer will be favorable to the borrower. The better you have managed your use of personal credit, the higher your FICO score will be.
Four services through which to receive updates of your FICO score are available through myFICO.com:
Score Watch monitors your credit report at Equifax on a daily basis and your FICO score on a weekly basis.
It alerts you when unexpected changes to your credit report cause your FICO score to drop, and notifies you when you reach your target score or when you qualify for a better interest rate. Each year, Score Watch provides two Equifax Score Power reports.
FICO Standard: Get your FICO scores from your choice of Equifax or TransUnion. Each comes with a full explanation of the credit score and how lenders view you, and also includes actions you can take to get your FICO score into the higher ranges.
Suze Orman’s FICO Kit Platinum: The new and improved Platinum version represents the FICO kit taken to a whole new level by Suze. She makes it easier than ever before to take control of your credit and save money!
Three personalized credit reports and 3 FICO scores, plus many new features, still come standard with the Suze Orman FICO Kit Platinum Version.
FICO Quarterly Monitoring: Key elements of your credit will be tracked to show you how they differ from quarter to quarter by myFICO.com. You can spot trends in your credit profile by tracking essential components of your credit such as “problem accounts” or the “total balances owed on your accounts.”
