Many people think FICO Scores and credit scores are one and the same. But FICO is just a well-known brand name among a diverse group of credit-scoring companies that produces more than 1,000 different scoring models. And the acronym, which stands for Fair Isaac Corporation, isn’t all that defining, anyway. A single person can have up to 49 different FICO credit scores.
Finally, it’s important to remember that lenders use a variety of scores to evaluate applicants. And they typically tailor models to their specific industry and organizational needs. For example, certain scores are customized for auto loans. Others are modified in-house and aren’t available to the public. But while the specifics of the many models vary, a solidly “good” score by one rating system is usually considered “good” by most others, too.
A credit score is in most cases is a number assigned by a credit scoring company that gauges your "credit worthiness"- basically a score that judges someone's ability to pay back what he or she owes. FICO stands for Fair Issac Corporation, Inc., which is the credit reporting agency that created the FICO score. There are other types of credit scores. FICO is the one of the most commomly used scores. You can learn more information about FICO scores by clicking on this link: https://www.credit.com/credit-scores/what-does-fico-stand-for-and-what-is-a-fico-credit-score/
You can get a free FICO score through Experian and with an account from certain banks and credit unions, including American Express, Bank of America and Wells Fargo. Some lenders, such as Discover, offer free FICO scores to non-account holders, too. Most free FICO scores are updated monthly, based on data pulled from the … read full answermajor credit bureaus.
Here are some of the places where you can get a free FICO score:
Ally Bank: If you have an auto loan through Ally, you can view your FICO score through your Ally Auto account.
American Express: Any American Express credit card holder can check their FICO score for free. Scores are updated weekly when you log into your account.
Bank of America: Anyone with a Bank of America credit card can view their FICO score for free through their online account.
Barclays: If you have a Barclays credit card account, you can view your FICO score through Barclays’ mobile application.
Citibank: If you have any Citibank-branded credit card, you can view your FICO score online. Scores are updated monthly.
Discover: Discover offers free FICO scores to its cardholders and anyone else who wants to check their credit score. These scores are updated monthly.
Experian: When you create an account with the credit bureau, you will have access to your FICO score as well as credit monitoring.
PenFed: PenFed offers its checking account, credit card and installment loan customers free FICO scores.
Sallie Mae: If you have a private student loan through Sallie Mae, you can view your FICO score for free through your online account.
USAA: USAA members can check their FICO scores through their online accounts.
Wells Fargo: Wells Fargo credit card accountholders can check their FICO scores for free with monthly updates.
When looking for a free credit score, remember to pay attention to the source you use. Choose a site that offers frequent updates and provides information on how your score is calculated. As long as it’s from a reputable source, it doesn’t really matter whether you’re checking a FICO score or a VantageScore.
WalletHub is a great place to check your score regularly since we provide free daily updates to your credit score and credit report and also tailor advice to your specific credit needs. All of these resources are available for free through your WalletHub account.
WalletHub uses the VantageScore 3.0 scoring model.
VantageScore 3.0 is one of the most popular credit scores on the market, both among lenders and consumers. It's used by more than 2,400 lenders, for example, including 20 of the top 25. And over 8 billion VantageScore 3.0 credit scores are issued per year.… read full answer
You can learn more about VantageScore 3.0 here and you can get your credit score updated daily, for free, here.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by a WalletHub user.
Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.