Getting Your FICO Credit Score

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The government has not forced Fair Isaac to give consumers a free peek each year because Fair Isaac owns the method for determining FICO scores. You will have to buy a report. To buy your FICO score you have to go online to www.myfico.com. Unless you need to buy updated copies of your three credit reports, perhaps because you ordered your free copies eleven months ago and aren’t due for another free copy yet then go with the cheapest package advertised on their site, the FICO standard which is priced at $14.95. The standard package gives you the credit report and score from only one of the three bureaus, but if you already have a recent free copy of your credit report and the info looks good then you can save a few dollars by going with the single FICO score. If your score turns out to be borderline then go back and buy your other two credit scores to see if one is significantly better. That’s the one you will urge lenders to use. Buying scores a la carte brings expenditure up to $44.90 which is only five cents more than the FICO Deluxe package that contains all three reports and the three scores based on them. Unless you’ve experienced identity theft problems, skip the annual subscription to your scores. Requesting free annual reports of your credit reports will keep you up to date. Steer clear of websites that offer you free credit reports or approximations of your FICO scores. While these are not necessarily scams the free offers do come with strings attached such as a requirement that you accept a free trial of a credit-monitoring service. They will start to charge a monthly fee to your credit card after the several-month trial period is over. It can be a hassle to get them to discontinue the service and to quit charging your credit card. You’re much better off doing business directly with the credit bureaus and Fair Isaac Corp.

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