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Free Credit Score vs My FICO

Best Credit Reports

To help you find the Best Credit Reports, TopConsumerReviews.com provides you with an in-depth comparison of Free Credit Score and My FICO.

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Monitoring your credit score is essential in today's times. Not only is having a good credit score and credit history important in obtaining an affordable car loan or renting an apartment, it can determine whether you get a job and are able to put food on the table for your family. To further accentuate the importance of knowing your credit score, over $1 billion in identity theft occurs each year.

Proactively managing and monitoring your credit is the only way to protect yourself from being the next victim. Being in tune with your credit score and real time credit activity has never been more important. In the past few years, credit report and monitoring services have popped up and gained the business of millions of American people. However, not all credit report services are alike.

Continue reading below reviews

Best Reviews

2019

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3 stars
Free Credit Score

FREE CREDIT SCORE Visit Site

Cost:

$14.99 per month

Many are familiar with Free Credit Score from the numerous TV commercials aired frequently. The catchy jingle depicts a young man with credit issues as a result of his lack of credit monitoring. As a result, he can't buy a house or a decent car and holds an evening job in a restaurant or a renaissance festival, and drives a lousy car. If you haven't seen these commercials you soon will.

When you sign up with Free Credit Score you receive a free credit report from Experian, your credit score (also from Experian), and use of their credit monitoring service for 7 days. The credit monitoring service scans activity across all three major credit bureaus and notifies you via email when specific activity occurs.

Activity such as credit checks, new accounts or any other changes that occur are sent to you within 24 hours of the incident. This allows you to quickly inquire directly with the company in question. If you decide, before the 7 day trial period, that you are not satisfied with the credit monitoring service you must call to cancel your membership. Otherwise, you're automatically charged $14.99 every month until you cancel the program.

We appreciate that Free Credit Score was very upfront with the trial period. They are fairly straightforward about their service offering but unfortunately they lack many of the bells and whistles the higher ranked companies provide. One disappointment we had is the absence of any consumer education on how your credit activity impacts your credit score, how to file claims with credit bureaus, and how to take action on fraudulent activity affecting your credit. Free Credit Score is missing insurance protection as well, and therefore doesn't offer any financial assistance in the event of identity theft.

While we like the commercials and catchy jingle, we recommend a higher ranked product that gives you more for you money.

Visit Site

3 stars
My FICO

MY FICO Visit Site

Cost:

$4.95 per month

My FICO offers a number of services including FICO Quarterly Monitoring for only $49.95 per year or $4.95 per month. While this is certainly very affordable, the services provided are also less frequent and thorough.

My FICO does allow you to cancel your subscription at any time and they provide a 20% discount on additional FICO scores purchases and TransUnion credit reports. That said, My FICO works solely with TransUnion and does not provide any comprehensive three-agency reporting. This does bring concern as accounts and fraud can occur with any agency and may not appear on TransUnion ever.

FICO Quarterly Monitoring reviews 400 data sources on a weekly basis. Email alerts are sent if any of the following occur that are tied to your identity:

  • New names and date of birth
  • Social security numbers
  • New addresses and phone numbers

FICO Quarterly Monitoring also provides you with your TransUnion credit score and credit report every three months. Within the report you may determine if any suspicious activity, new accounts, or other issues have occurred within that time frame that you weren't previously aware of.

Identity Theft Insurance is provided within the FICO Quarterly Monitoring subscription and includes assistance with resolving any identify theft events. You access their assistance line from a toll-free number managed 5 days a week. Identity theft insurance coverage is up to $25,000 for associated costs.

My FICO's credit reporting is only comprised of one reporting agency and therefore limits the entire picture of your true credit activity. We also felt the weekly monitoring was not as proactive as the daily reporting offered from our top-ranked services, and therefore allowed the potential for several theft events to occur before you're made aware of the risk.

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Continued from above

Some companies provide a wide list of credit related services to meet all your credit reporting needs, while others provide only bare basics with little or no customer assistance. Some companies offer insurance up to $1,000,000 and some provide very little to no coverage in the event that identity theft does occur.

If your goal is to improve your credit while effectively avoiding identity theft you'll want to choose a credit report service that specifically meets your needs. This includes assistance with disputing credit report errors, monitoring the progress of improving your credit, providing a knowledgeable staff to answer all your questions, offering insurance to pay for identity theft, and more.

With a number of credit report and monitoring services available today it's important to consider some key aspects of each company before making a decision. Some of these factors include:

  • Cost.  How does their price compare to their competition? Is the charge fair and reasonable and does it fit into your budget?. Do they charge monthly or is their one flat fee?
  • Credit Bureau Sources.  Where are the credit reports obtained from and what is being monitored for credit events? The most comprehensive credit reporting will include all three major credit bureaus including Experian, Equifax, and TransUnion.
  • Resources.  In the event that you need to dispute a credit report item does the company offer easy to use online tools? Does the company offer resources to help improve your credit score, and does it provide assistance in obtaining the best rates for your major purchases?
  • Assistance.  Credit reports are complicated and laws change frequently. Does the service provider have a knowledgeable customer service team?

TopConsumerReviews.com has reviewed and ranked the best credit report services available today. We hope these reviews help you find out your credit score and credit history right away!

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