As the importance of loans in people’s lives increased, it became important to find out the credit score. However, since everyone has more than one credit score, you should consider which credit reference institution’s credit reports are calculated or the type of credit score when learning your credit score.
Among the credit score types, FICO is the most frequently used and preferred credit score type by lenders and creditors. Therefore, when learning your credit score, you should first make sure that the credit score type is FICO. You should also learn your credit score from the three credit reference agencies to check that the credit score ranges of the three credit reference agencies are different and that there are no missing or incorrect information in any of the reports.
It was more difficult to learn your credit score before, but you can learn your credit score in many ways today. In addition, you had to pay a fee when you used to learn your credit score, but nowadays there are ways to learn your free credit score. Since FICO is the most preferred and used credit score type, you can try methods of getting your free credit score by FICO score type.
FICO 7 places to find out your score for free
There are some things you need to know before getting your FICO credit score.
- 90% of the best lenders and creditors prefer the FICO score for lending and the interest rate to be set when lending.
- FICO Score is an Open Access program that allows you to learn your FICO score for free today. With this program, in 2013, financial institutions were encouraged to provide credit points to their customers free of charge.
The higher your credit score, the better. However, the last limit on which your credit score can increase on average is 850. When the first-time credit points are also taken into consideration, the average starting point is 300. The average credit score ranges determined for the FICO credit score are as follows;
- 800-850: Extraordinary
- 740-799: Very Good
- 670-739: Fine
- 580-669: Fair
- 300-579: Poor
You can get your FICO® Score for free in a lot of places. Seven places where you can find your FICO® credit score;
- Your Discover® credit card or website
- Credit card companies
- Credit unions
- Auto loans
- Student loans
- Credit counselors
Your credit score is the first of the free learning methods. More than 160 financial institutions provide free access to FICO credit scores to their members and, in some cases, non-members. If your bank is on board, you can generally check your FICO Score by logging onto your online banking portal.
- Your Discover® credit card or website;
Discover provides a free FICO credit score to all its consumer credit card accounts. The scores appear on cardholders’ monthly paper and online statements. Don’t have a Discover card? Not a problem. Discover also provides free credit scores to consumers through an online tool called Credit Scorecard.
- Credit card companies;
This is another way to learn your credit score for free. If you carry the right kind of plastic, you may be able to get your FICO Score for free. Depending on your credit card, you may get a VantageScore, instead.
- Student loans;
It may not be fun to have student debt, but if you’re a borrower or co-signer of Sallie Mae® Smart Option undergraduate student loans, you can see your FICO Score online for free.
- Auto loans;
If you finance a vehicle through Ally Financial or Hyundai Capital America — which includes Hyundai Motor Finance and Kia Motors Finance — you’ll have full access to your FICO scores.
- Credit and financial counselors;
This is the last way to learn your credit score for free. If you’re a customer of a nonprofit organization that offers credit or financial counseling, some good news: You can probably receive the credit scores and credit reports that your counselor buys on your behalf. The same goes if you’re a customer of nonprofits offering housing counseling. The credit scores and reports are used as reference points to help improve your financial health.