PenFed is the latest credit card issuer to start offering it’s cardholders free access to their FICO scores. When you log into your account you should see a button that says “Your FICO score is ready! View it now” at the top where three small ads usually appear.
Thanks to TheDiggler from FWF for providing the image
There is no set date that PenFed will update this score, whenever they get an updated score for their own uses (which is standard practice for credit card issuers for risk analysis and determining your credit limit) they will pass this updated score onto you.
This is not a classic FICO score (which most other card issuers offer), it’s a NextGen score and it’s based on information found in your Equifax credit report. This score has a range of 150-950, unlike the classic FICO score which has a range of 300-850. As such you’ll likely find that your PenFed score is higher than you might see elsewhere. If you’re unfamiliar with how the FICO algorithm is calculated, we’d recommend reading this post to gain a proper understanding.
[Read: Types of FICO scores]
If you don’t see the advertisement/button when you log in, try disabling any adblocking software you have. At the moment this free score is available to those who hold an active loan, credit card, or checking account with PenFed. If you don’t have anything with PenFed, don’t worry you still have a lot of other options:
- Full list of ways to access your FICO score for free
- myFICO promo codes
- Full list of ways to access other credit scores for free
- Free credit monitoring sites that provide free scores:
Hat tip to DrForce of FWF
