Trusted for its personal finance and business forecast information, Kiplinger.com named myFICO.com as the best place on the Internet to go to get your credit score.
“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. It is more likely it is that terms of a loan offer will be favorable to the borrower, the higher your FICO score, generally speaking. If you have maintained a good credit record, your FICO score will be higher than someone who has not done as good of a job as you.
Four services through which to receive updates of your FICO score are available through myFICO.com:
Your Equifax credit report and your FICO score are monitored, on a daily and weekly basis, respectively, by Score Watch.
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 includes actions you can take to get your FICO score into the higher ranges, and also comes with a full explanation of the credit score and how lenders view you.
Suze Orman’s FICO Kit Platinum: Suze has taken the FICO Kit to a whole new level with the new and improved – Platinum – version. She makes it easier than ever before to save money and take control of your credit!
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 by myFICO.com to show you how they differ from quarter to quarter. Tracking essential components of your credit such as “problem accounts” or the “total balances owed on your accounts” can help you spot the trends in your credit profile which may be affecting your FICO score.
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