90% of major lenders in the United States use the FICO score to determine if they should lend to you or not. myFICO who is the official consumer division of FICO invented the FICO credit score. FICO scores are the most commonly used for mortgages to auto loans and has been the industry standard for over 25 years. Here we will be giving a myFICO review.
What is myFICO?
myFICO is a subscription-based credit monitoring service that helps the user track their FICO score. Users can also access their credit reports, get access to scores for mortgages, auto loans and score analysis to better analyze their credit score. Users who sign up for Advances and Premier plans get access to identity monitoring.
MyFICO Pros & Cons
Pros
- myFICO has an in-depth and extensive credit report to see the overall health of your credit unlike most credit monitoring companies.
- You get to see exactly what lenders see on your credit report so you can make changes to better your credit.
- Allows you to prepare for your credit goals such as a mortgage, auto loan and credit cards with up to 28 versions of your credit score
- Provides identity theft recovery on select plans
- Will not hurt your credit score to sign up
- Bank-level security
Cons
- More expensive than other credit monitoring companies
Related: 5 Best Credit Score Apps
Where To Get myFICO Score For Free
Some of the top credit card companies offer free credit monitoring on their apps. You can get myFICO score for free when you have a credit card with any of the following companies:
Related: 8 Best No-Interest Credit Cards
Is myFICO Score Accurate?
Yes, myFICO scores are accurate based on the information that is provided. If there is an error on your credit report that is negatievely impacting your credit score, you can dispute this information and get it taken off your credit report.
Get our FREE Dispute Letters Here!
myFICO tracks your FICO Score 8 which is the most commonly used credit score by lenders, and might not use FICO Score 9 or FICO Score 10. Other lenders might use the VantageScore instead of the FICO score to determine your creditworthiness.
How Much Does myFICO Cost?
myFICO has three different plans to choose from at different prices:
Basic – $19.95 per month
- 1-bureau Experian Credit reporting
- Monthly updates
- Scores for mortgages, auto loans & more
- Score and credit monitoring
- Credit reports
- 24/7 Identity restoration
- $1 million identity theft insurance
Advanced – $29.95 per month
- Complete 3-Bureau Credit reporting
- Updates every 3 months
- FICO score provided
- Scores for mortgages, auto loans and more
- Credit reports
- Score and credit monitoring
- $1 million identity theft insurance
- 24/7 Identity restoration
- Identity Monitoring
Premier – $39.95 per month
- Complete 3-bureau credit reporting
- Monthly updates
- FICO scores
- Scores for mortgages, auto loans and more
- Credit reports
- Score and credit monitoring
- $1 million identity theft insurance
- 24/7 identity restoration
- Identity monitoring
You can’t go wrong with any plan, just pick the one that fits your needs the best. Each subscription plan automatically renews monthly. You can cancel at any time. All subscriptions do include the FICO8 score which is the most commonly used credit score for lenders.
Related: What Credit Score Do You Need To Buy A House
Alternatives to myFICO
There are several credit monitoring apps you can choose from that are similar to myFICO. These apps have similar features like how to track your credit score, tips on how to improve your credit score, recommendations for products and more. Some of these apps are free to use but may not include all 3 of your credit scores like myFICO does if you buy an Advanced or Premium plan.
Credit Karma
- Free to use
- Uses the VantageScore from 2 of the 3 credit bureaus (Equifax, TransUnion)
- Credit monitoring which updates daily
- Recommends credit products
Related: Credit Karma vs FICO
Credit Sesame
- Free Credit Score, credit report, and credit monitoring
- Product recommendations based on your credit score
- Safeguard your credit with ID protection
- Earn $100 for improving your score with Sesame Cash, earn cash back rewards on purchases, and no monthly account fees or credit checks.
Experian
- Free credit report updated every 30 days
- Monitoring your spending with notifications when your credit utilization changes
- Real-time alerts when there is any suspicious activity
- Track your FICO Credit Score
How To Sign Up For myFICO Credit Monitoring?
If you’re planning on buying a house, a car or credit card in the near future I would highly suggest signing up for myFICO credit monitoring as it gives you in-depth details on exactly what lenders will see when they review your credit applications. Here is how to signup for myFICO:
- Click here to Signup for a plan
- Get your complete credit overview
- View the 28 versions of your score for mortgages, auto loans, credit cards, and more.
- Setup monitoring for easy instant alerts
- Review your scores regularly through the app and get protection, 24/7 identity restoration, and $1 million in identity theft insurance. If you notice your credit has been compromised and your identity stolen complete a credit freeze which will block access to your accounts. Here is all you need to know about a credit freeze.
What Is A Good FICO Score
A good FICO score is considered to be between 660 to 780. If you have a score lower than 660 you are considered to have bad credit and getting approved for a loan, or a credit card can be difficult. You can learn more about what a good credit score is and what you can do to fix your credit by joining the Credit Repair Blueprint Course where they teach you how to fix your credit for life.
Other – What is Credit Saint And It’s Features?
Do you have bad credit, no credit, or want to learn how to become a credit expert?
Check out our credit repair training and learn:
- What your actual credit score is
- How to get a copy of your free credit report
- How to get your credit back on track today
- Travel for Free, Fly First Class & Earn Money
- Learn how to fix your credit on your own with our expert advice.
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