myFICO is the consumer website for FICO, previously it has provided consumers with access to their FICO8 scores for Equifax, TransUnion & Experian. Recently they’ve added industry specific scores as well, these are the scores that auto, home loan and credit card lenders most commonly use. If you’re not familiar with how the FICO score is calculated, I’d strongly recommend reading this article.
Contents
Why The Different Scores?
A credit card issuer is more likely to use the FICO8 Bankcard enhanced version (called  for their lending decisions than the classic model that was previously provide. These industry specific scores have slightly different scoring criteria and generally put more weight on related credit history. A bankcard enhanced score is more likely to be worried about your credit card repayment history than your auto loan repayment history.
The reason that these scores are created is that they are able to more accurately evaluate the credit risk of a potential borrower than a classic FICO score. The main difference that consumers will notice is that industry specific scores have a range of 250-900 instead of 300-850.
Available Scores
Here are the scores that myFICO are making available to consumers:
Equifax
- FICO® Score 8
- FICO® Auto Score 8
- FICO® Auto Score 5
Experian
- FICO® Score 8
- FICO® Auto Score 8
- FICO® Auto Score 2
- FICO® Bankcard Score 8
- FICO® Score 3
- FICO® Bankcard Score 2
- FICO® Bankcard Score 5
TransUnion
- FICO® Score 8
- FICO® Auto Score 8
- FICO® Auto Score 4
- FICO® Bankcard Score 8
- FICO® Bankcard Score 4
- FICO® Score 4
Final Thoughts
There was no price increase from what I can see from myFICO and it’s great that they are doing a better job of educating their users on different FICO versions that are available and also making these different scores available to the consumer.
I’d guess that the success of their FICO open access program has something to do with these changes, as more and more credit card issuers add free FICO scores myFICO need to continually improve their offering if they want users to keep paying $14.95 – $29.95 a month or $19.95 – $59.85 for credit scores and credit reports.
You can find discounts on myFICO products at our dedicated page for myFICO coupon codes. Personally I think the vast majority of people are better off just looking at the free scores provided by their credit cards, but if you want to see all the different specific industry scores then they are really your only choice at the moment.
There are also a whole slew of other websites that provide free FAKO scores, but these are not generally used by lenders (thus the FAKO name) so are really more of an estimation than anything else. These sites are: Credit Karma, Credit Sesame, Quizzle, WisePiggy, Mint & Credit.com.
