Discover Providing Free Credit Scores to Cardholders
Discover announced today that cardholders will receive free FICO credit scores on their monthly credit card statements.
Discover becomes the first credit card issuer to provide FICO a credit score free of charge to their customers on monthly statements. In addition, cardholders will be able to see the FICO Score Meter, which will show them the relative strength of their credit score.
Credit scores are one of the key determining factors in deciding whether a person is approved for a loan. Discover’s research showed almost 40% of Americans did not check their credit score in the past twelve months.
“A good credit history and FICO® Score can be a deciding factor in a person’s ability to get a loan or receive a good rate that will enable them to buy anything from everyday purchases to a new home,” said Julie Loeger, senior vice president of brand and acquisition at Discover. “We think Discover customers deserve to have ready access to this information and should not have to go through hurdles to get it.”