MyFICO Review: Scam or Sweet Deal For Free Credit Scores?

Posted by CreditCardGuru

Is MyFICO just another gimmick for “free” credit scores? Or is it actually the best deal? Here’s my unbiased personal review.

Like you, I’m sick and tired of all these credit score/credit monitoring offers which promise to be free, when in reality they’re a bait ‘n switch. What follows is my firsthand MyFICO review. They don’t peddle imitation knockoffs like 99% of other scoring websites do.

November 12, 2013 Update: Previously there were only 2 sources where you could buy authentic FICO scores: MyFico.com and Equifax. They charge $19.95 and $23.95, respectively, each time you check. That can be expensive if you want to keep regular tabs on it! I used to recommend them, but now I suggest you get a credit card that provides you free access to your real FICO score on a regular basis as an included benefit.
What follows is my review of MyFICO but as mentioned, I’m no longer recommending it given this new offer from Barclays.

Part One: The enrollment process

When you signup, you are actually signing up for a ScoreWatch trial, which is their monitoring service.

MyFICO trial enrollment screenshot

Underneath are the details about how the trial works. The font is conveniently small, but I guess it’s not the tiniest small print I’ve seen.

fine print for free trial

On page one you will be asked some basic info to create your account. That includes your Social Security number. The reason that’s necessary is to access your credit report.

On page two you will enter your credit card info.

On page three you will have to verify your identity with a few multiple choice questions. For example, they might ask which company your auto loan is through and how much it’s for.

Part Two: Using the service

I’ll go over the features, but keep in mind some of them probably won’t be very useful if your cancel the MyFICO free trial (because they involve tracking your score over time).

FICO Score Alerts: You can set a target FICO score and when you reach it, you can receive an alert via email and/or text message. For example, if you’re currently at 729 and want to be notified when you hit 740, then enter that as the target.

Interest Rate Alerts: Looks useful, but I wonder if they will use this to peddle you mortgage/loan offers…

Interest Rate Alerts

“What It Means To You”: When you click on this tab, you are taken to a page that really puts your current credit score in perspective. For example, it shows what interest rates you can expect to pay:

"What This Means To You" screenshot

Underneath it talks about your “risk rate” which MyFICO defines as:

“The percentage of borrowers who reach 90 days past due or worse (such as bankruptcy or account charge-off) on any credit account over a two-year period.”

Mine was 2%… woohoo.

FICO Score History: This is a chart that shows where your score is over time. Unfortunately the starting point is when you begin your free trial – scores before that aren’t shown. So this feature will be useless unless if you cancel your MyFICO free trial.

Credit Alerts: This is another feature that probably won’t be very useful during the 10 day trial. With that said, if you maintain a long term subscription then I think this could be the most valuable feature, since it can help you stay on top of credit reporting errors and identity theft.

  • New Accounts: If a new line of credit is opened in your name.
  • Account Balance Increases: Alerts about increases in the balances owed on any of your credit accounts. You can control whether you receive alerts for both small and large balance increases (more alerts) or just large balance increases (fewer alerts).
  • Newly Active Accounts: This notifies you when an inactive account suddenly becomes active again (i.e. you start using an old credit card).
  • Account Changes:This is for “important changes” made to any of your credit accounts. So what’s considered important by MyFICO? They list late payments (and then catching up after a late payment), an account going to debt collections, an account being charged off (and then if you pay it back), and changes to the description of an account.Obviously, all of these factors would be useful whether you’re rebuilding credit or just trying to achieve an even better score.
  • Credit Inquiries: When you apply for a credit card, loan, mortgage, or any other form of credit, a credit check (inquiry) is made. When it’s a so-called “hard” credit inquiry, it is recorded on your credit report and may impact your score in the short term if you have too many. So keeping track of these is helpful.
  • Collections: If a new collection shows up on your credit report, you will be notified. If you already have collections on your report, Score Watch will also alert you if there’s a change in the collection agency, amount owed, account number for the collection, and its status (unpaid or paid).
  • Public Records: This category consists of things like bankruptcies, tax liens, and court judgments against you for unpaid debt.
  • Name Changes: Alerts if a different name shows up on your report (i.e. you get married and your last name changes). Even though this doesn’t affect your FICO score, an incorrect name could lead to other wrong information being associated with your credit profile.
  • Address & Phone Changes: If these changes, you will be alerted. I could see this being useful in helping to avoid identity theft.

credit alert options

Part Three: The Drawbacks

1 Free Trial Every 24 Months: Signing up for a free trial with MyFICO every few months sounds like a good idea, right? Well that’s what I was thinking too, but unfortunately that won’t be possible. You can only participate in the free trial once every 24 months.

The Costs: MyFICO offers a few different packages and the one that comes with the trial, Score Watch, will cost you $14.95 per month afterwards. If you’re actively re-building your credit I can see scenarios where this would make sense, but for someone who already has a high score, it seems like a lot of money to shell out since you probably would be using it namely for error and fraud monitoring.

Only Experian Is Included: What’s included in the Score Watch price is Equifax and you only get to run 2 reports with them per year. To run a TransUnion report you have to pay $19.95.

However it’s worth pointing out that even though all 3 credit bureaus would be ideal, the truth of the matter is that the information is overlapping. For example, if something is reported to one bureau, the other two will pick it up usually within a month or two. So in actuality, just having Experian should be sufficient for most people.

3 Month Minimum If You Don’t Cancel: As mentioned in the rules (pictured at top) “After your free trial converts, a 3 month minimum subscription applies.” So if you intend to cancel and forget to, you will have to pay a minimum of $44.85.

Is MyFICO a scam for doing this? I don’t think so, because they are upfront about it. But just make sure you are aware of this!

Part Four: The Cancellation Process

Their website lists two options for how to cancel the MyFICO free trial.

  • By phone: 1.800.319.4433, Mon-Fri 6am to 6pm, Sat 7am to 4pm (pacific)
  • By email: Although they call it email, you actually send the message through the MyFICO website (so it’s not exactly email).

I decided to cancel MyFICO membership at around 3:30 PM on a Saturday. Since the email form said it would take up to two business days, I decided to call (didn’t want to risk getting charged if it really did take two days).

After calling and press #4, a girl answered promptly. Though I was quite turned off by the first question out of her mouth “What’s your Social Security Number?” She didn’t ask me name, email, account info, or other information but rather my SSN. Then after that, she starts asking me other information like my name and address. I wish instead MyFICO would go by account number, email, or some other non-sensitive information when you call in.

Needless to say, I reluctantly gave her my info and she said my trial was cancelled. Surprisingly she didn’t ask why I was cancelling, nor did she try and sell me anything (which was refreshing). I received the cancellation email about 5 minutes later.

Part Five: The Verdict

Is it perfect? No. But overall, I think MyFICO beats most of the other “free” credit score offers out there and here’s why…

1. You get FICO, not FAKO
You have to be careful because most free credit score offers give you VantageScores (a.k.a. FAKOs) which run on 501 to 990 scale. VantageScore was created as a competitor to FICO but it definitely hasn’t caught on, to put it nicely (90% of the largest banks still use FICO for decisions). So what you really should be after is your FICO score and not an imitator.

According to the MyFICO website: “Many different websites sell credit scores to consumers, but only myFICO.com and Equifax.com sell actual FICO scores to consumers.”

Conclusion? Whether you like their pricing or not, they’re the folks to go to for FICO.

2. Good features
Not all the features will be useful to everyone, but overall, the program packs a lot of punch when compared to what competitors are offering.

3. Other pricing plans available
If you agree $14.95/month is overkill, then you may want to consider some of MyFICO’s other packages instead (assuming you want to go beyond the trial). For example, the quarterly package is $49.95/year and includes a TransUnion FICO score and credit report once per quarter.

November 12, 2013 Update:
As mentioned I still am a fan of MyFICO since they offer real scores, but now that Barclays includes them for no additional cost on certain cards, you’re better off going with them in my opinion. I certainly don’t need another card but even I applied because this is too good of a benefit to miss out on.

41 comments... read them below or add your own

  1. JSR March 20, 2014 at 10:43AM

    I’ve been using MyFico.com for about 3 months now. The score they report doesn’t seem to represent those used by the lending community. The rep says there are many different formulas used by lenders but the scores that all of my credits report is about 130 pts. lower than what they’re reporting. I just got a new card showing that same difference. The same with my bank!

    What’s the sense of paying for a score if it doesn’t represent the overall credit community. It makes about as much buying a new car that only runs on regular gas! Needless to say, I cancelled. I’ll use the savings to pay my bills. Then I know my score will increase and instead, just pay the Credit Bureaus once or twice a year for a score that I know everyone uses or recognizes! “MyFico.com” is just a business. It is NOT the standard!!!

  2. Heather J March 18, 2014 at 7:39AM

    I always had an extremely positive experience with myfico.com, ScoreWatch and their other services.

    In order to maximize your satisfaction with them and their services, KNOW WHAT YOU ARE SIGNING UP FOR. Too many of these reviews are angry people who either a) didn’t know what they were getting or b) didn’t read the fine print to see there was a 3-month minimum. If you want to cancel within the grace period, CALL THEM. Don’t rely on an “email” and then complain about losing $45 when technology let’s you down. Take some responsibility and make the call. Take note of the name of the person you spoke with. You can never be too cautious.

    I signed up for Scorewatch and enjoyed my 10-day FREE TRIAL at no obligation. On day 9, I called and they gave me a lower price of $9.95 a month. I knew about the minimum, and to be honest ~$30 is worth it for their service considering the cost of a credit report with a fico score. Anyone on the path to credit recovery should absolutely benefit from this service.

    Scorewatch provides you with one full “report” and then gives you on-going daily alerts (text or email, your choice) when your score changes or things change on your credit report. Balance change? You get an alert. Credit inquiry? You get an alert. Score goes up? You get an alert. You don’t get a full credit report. Sometimes your score fluctuates, and you’ll get an alert and you won’t even be able to pinpoint why it changed. Bottom line – if you want to know what your FICO (not FAKO) score is on a daily basis, $10 a month is a reasonable fee.

    They also have an app which is awesome.

    Yes, Creditkarma will provides a similar service that is free – the differences are a) they aren’t as timely as myfico (sometimes I’d get a myfico alert and it would take creditkarma 10 days to give me the same alert) and b) their score is a FAKO.

    When I called, their rep talked me into for what I thought was myfico’s same service for TransUnion but it was not anywhere close to ScoreWatch. I CALLED and cancelled, and when I expressed my frustration that I believed the service to be mis-sold they checked their records, listened to their recorded calls and heard for themselves that their untrained rep deceived me, though not deliberately. They refunded me 100% and waived the 3 month minimum. Top notch customer service.

    90% of the complaints below would be positive reviews if people took a little more accountability for their own inaction – such as failure to read the fine print, failure to truly understand the service, and failure to make a phone call.

  3. howellcmsp December 14, 2013 at 4:24AM

    Extremely deceptive advertising, there is no 10 day free trail, upcharges once you sign up leave you with almost $60 month to access credit reports and scores. I was referred by Citibank and made sure that the person referring knew that I wasn’t happy with the service. No doubt that I will not recommend to anyone and I will not do business with Citibank in the future due to the referral.

  4. Kathy November 14, 2013 at 6:00PM

    I used this service and it is a complete scam. I emailed to delete my account the day I tried it, they refused to respond and now I owe 45$ for their bad service (zen dough is much better). They told me my email and call recordings didn’t exist (you have to go through their system, not your personal email, so there is no paper trail). Do not use this service!!

  5. David October 18, 2013 at 10:42AM

    Had been going to myfico.com for a few years now to check my score. Understand, I work as web developer and I am shocked that myfico, the consumer division of fico, is definitely no friend of the consumer now! This is the problem for those of you who don’t know web design terms; what they are using on their website is called a “dark pattern”. It’s deceptive and especially appalling that a company who is suppose to represent consumers is now tricking people into getting extra services that they know people don’t want. It’s simply wrong. I now use “Credit Karma” a free app and free service that runs on my iPhone (or android) and can check anytime.

  6. New customer curiosity October 17, 2013 at 5:42PM

    I just now signed up for the free trial and received 3 emails within 30 seconds of one another from myfico. One of the emails stated my score had gone up from my current targeted alert score. Really? First of all, if so, won’t they show me or do I need to pay for another “score”? How is it possible for my score to go up from my alert score when I JUST now signed up? I have read it, re-read and read again everything to be sure I have not read this incorrectly, so either this is a scam (if I indeed need to pay a different fee to see my updated score), or they seriously need to reword things.

    After reading all of the posts to this topic, I have a few comments. As for those that say people don’t read. I see it through both groups perspectives, and both have points. However, sure, you can see people failed to read the fine print, but no, the problem is there shouldn’t be fine print even if it’s technically not “small”. If something states you will be charged $15, then it should state right there that this will be x3 and you should never have to look elsewhere for that information. I read it, but only because I’ve been burned before and know to now read and hunt for all possible information. Sure, they get away with such crap, but in my opinion it’s still bad business ethics no matter how you look at it.

    Lastly, it is down right illegal to charge people for a contract they canceled within the proper window. Even if this actually is a process that somehow takes 2 entire days to “process” (not humanly possible). Should there be a circumstance such as all computers being down when someone called to cancel, the date and time that individual called is the time of cancellation, not when they choose to put your cancellation through. That’s just absolutely ludicrous. If you ever fall into such a situation call your bank and stop payment to that party and threaten litigation. That would be like paying a credit card and them deciding to not post payment until they decided. That’s not the way it works and if they’re doing this they can be sued. As always, “buyer beware”, but only in the essence to educate yourselves and write down all confirmation numbers, date and times, who you talked with etc. The more important thing I think is stop giving people business that deal in such hypocrisies.

    PS. Those were just in response to what I’ve read here and I have not had such issues personally. From my research, myfico still looks to be the better of the bunch. Be warned that most credit report sites (90+ %) are merely based on potential scores and not real. Look in the fine print and search for the key word “Educational” since they state their service is for educational purposes.

  7. Val October 9, 2013 at 10:48AM

    DO NOT USE MYFICO. They do NOT give you your information without roping you into an alert trial that you must pay for an cancel within a week or you are stuck with the minimum three month trial period (and pay for that, too). I called within the designated time period to cancel; they did not log my call. Today, there’s a debit to my account and upon calling to inquire, I was told that it’s too bad for me, I am stuck with the three month membership and there’s no way out of it. Horrible customer service. Don’t allow them the opportunity to take advantage of you. If you do decide to go ahead and subscribe to the alert trial in order to get your information, insist upon a cancellation email confirmation when you cancel. They did not tell me that I should expect that when I called to cancel; had I known, I would have looked for it and called back within the trial period deadline to protect myself. Lesson learned.

  8. no longer will use August 13, 2013 at 4:49PM

    I will no longer use them. Had been using them for 5 years to check 2x a year to see my equifax score. In the past I’d simply pay the 14.95 one time fee and then be done. HOWEVER, this last time, it appears as if they sneakily attached the score-watch process to seeing your score for what was normally a one time fee. I guess the money they were getting from me 2x a year wasn’t enough.

  9. qem August 12, 2013 at 9:05AM

    This is a scam. I only wanted this while I was in negotiations with for a house. I signed up known I was going to go passed the 10 day free trial but I didn’t read the EXTRA fine print stating you have to stay with them for a min of 90 days. If you call they will discount to $9.99 for the next 2 months for a $35 total. Is it worth 3 months of only FICO score monitoring?….I don’t believe so.

    • Not an idiot August 16, 2013 at 10:10AM

      How is that a scam? It’s in pretty big print. Maybe you should know what you are agreeing to before you agree to it. This is %100 your fault.

  10. skikayaker August 2, 2013 at 7:40AM

    SCAM! I had a horrible experience with MyFICO.COM. When I signed-up to enroll in the “ScoreWatch” 10-day trial I was asked to call the center where the representative proceeded to ask me all kinds of personal information about where I lived back in the 90s, who my past creditors were, what my limits were, and what month and date my accounts were established. I felt like I was being interrogated. It’s a real shame that we are asked to provide our SSN for everything so that are credit score can be manipulated under a cloak of secrecy and barricaded from knowing what is going on with our credit score.

    MyFICO.com clearly baited and switched with me. I gave them my information and they gave me nothing! I still don’t know what my score is.

    • Liz August 5, 2013 at 9:29AM

      I agree with you 100%. That we’re required to pay for information about ourselves is absolutely shameful. The FICO score should be ours to view at any time, as many times as we need to, and for no cost. They are building dossiers on us, basically, and refusing to let us see those records (and, as you said, in what ways they’re being manipulated and by whom) without giving them access to our SSN and giving them money. Extortion. I say no way.

  11. MrD July 18, 2013 at 4:56PM

    For others who have stumbled onto this page wondering about MyFICO.com let me tell you that all those complaining above simply did not read what they were signing. These people need to learn to read… maybe then your credit will improve guys… MyFICO.com is NOT a scam. Stop complaining and be smart. Sharing information online or over the phone is always somewhat a calculated risk and a personal decision. If someone steals your identity, be ready. Otherwise, shutup and get out of the way. Go buy ScoreWatch for a quarter or two it isn’t like you don’t waste that kind of money on other things that are probably much much less useful.

    • Not an idiot August 16, 2013 at 10:14AM

      I was thinking the same thing as you. Some people just don’t get it. For one thing how do they expect somebody to give them a credit score with out your SSN. Your SSN is what proves who you are. I for one love the score alert ability to text to my phone. It’s a great service for those who actually know what they are getting before they get it.

    • james October 29, 2013 at 12:15PM

      It took me 4 times for them to even log my call. Should I be on the phone for an hour to get an email confirming my cancellation. IF you put a big sticky note on your screen, so you would see it every time you picked up your laptop, reminding you the date to cancel by, don’t you think you would cancel? Why would I cancel the other 2 I checked my scores on in time and not the other.
      scam. scam. scam.

  12. JR July 15, 2013 at 12:21PM

    Big-time bait-and-switch scam. They intentionally make it difficult to cancel. I cancelled online and then was charged 2 months in a row with the company rep citing that the online version is unreliable and you have to call to verify (interpretation: website cancellation is intentionally non-functional and they want to make it a pain to cancel by spending an hour on the phone with them).

    I cancelled online during the 10 day trial, but they still charged me 2 months, so I spend an hour on the phone and asked to be escalated twice where I finally got someone to cancel it before the 90 day minimum and refund half of the $29.90 they charged for 2 months.

  13. Mike July 6, 2013 at 10:32AM

    Update: Apparently you can use other browsers, but the customer support people think you can only use IE. The trick is that you can’t see your score until you click “fulfill” to the right of the purchase that you’ve made after you log in for the first time.

  14. Mike July 6, 2013 at 10:15AM

    Accurate review. Especially useful info about cancelation. One crucial bit of info is missing: MYFICO ONLY WORKS WITH INTERNET EXPLORER. Cannot use Chrome, Firefox, or Safari. This is a major inconvenience for Mac users.

  15. John July 1, 2013 at 9:49AM

    Myfico is a SCAM. I’m reporting them to the Better Business Bureau right now and you should, too.

    • John July 26, 2013 at 7:43AM

      Some detail would make your comment non-useless.

  16. Katherine March 2, 2013 at 7:52PM

    For those living overseas without a reasonable way of dialing a toll-free number, I’d seriously discourage this. The customer service ‘form’ doesn’t even have an option for cancellation; so, having sent my request to cancel as a ‘billing question,’ with comments, I am now simply HOPING the cancellation is successful — because I don’t have the option of calling them. The website says, too, “For cancellations, call 1-800-…” Well, military folks overseas, tough for you, I s’pose! Not pleased.

    • Juan Garza May 16, 2013 at 8:28AM

      If you are military overseas you can call 800 #s from a DSN by dialing 809-4-OFF-DSN…

  17. Nautius February 6, 2013 at 8:53AM

    I would recommend NOT using them for the simply for the cancellation process. I ran into the exact same issue where they asked me SSN, DoB, THEN name and full address. Really, that’s all you need to grab someone’s identity. In this day and age, why would you ask that kind of sensitive information “to protect the customer’s identity” (as the supervisor told me)?

    • Karen April 1, 2013 at 12:26PM

      Yep, she acted surprised when I really did not want to furnish that info over the phone. Still nervous about it….

  18. hmandaddyo January 11, 2013 at 5:18PM

    He missed one vital part about myFICO in the article, the forum. Great for rebuilding your credit if you’ve had some dings. It’s worth $15/month easily….

  19. Tonny December 27, 2012 at 3:20PM

    Followed everything on this post to the T and it was a smooth experience. Even down to the phone call and pressing #4. That was a nice touch.

    Thanks a BILLION!

  20. mai December 13, 2012 at 10:35AM

    I should have read this article. Myfico offer is a scam-10 day trial then lock people in a hefty contract that you cannot get out it unless u cancel before. STAY AWAY from it. You don’t need it, just apply and the credit company will provide you a true score and detail of your report.

  21. Jones November 13, 2012 at 9:23PM

    myFICO is a complete scam. forced me to pay for 3 months after i tried to cancel after 1 month. just go directly to the credit bureaus and get your free score (which is genuinely free), stay away from myfico.

    • Alexandria February 5, 2013 at 1:54PM

      Just throwing it out there, that the MYFICO is not a scam, the real scam is the people out there that do not read things, before they purchase…I went to the site, before even signing up, it does state the minimum monthly thing. Then I set up my profile, continued. Read through the Terms Agreement, it states it there 3 times and after entering my credit card information…. That is alot of times, for someone to say it’s a scam….

      • scamgame March 29, 2013 at 8:27AM

        Oh well… then why they don’t have any online cancel system? and why that call takes at least 10 minutes to speak to a rep? and why the heck 3 months mandatory?
        And more over, when you call for cancel.. the call drops automatically before cancelling. you have to call multiple times. For me, its a bad business practice.

      • james October 29, 2013 at 12:19PM

        may be true if they didn’t make it so hard to cancel. and even when you do cancel they don’t log the calls. be very thorough when you cancel. wait on the phone until you actually see the email confirmation in front of you. then save it FOREVER.

  22. cheated-at-myFICO May 21, 2012 at 5:35PM

    Chose the “FICO Standard” product. The visual product description on the webpage had a checkmark against Transunion AND Equifax credit report. But I did not know that myFico uses this visual system like NO ONE else does! Apparently the checkmarks does not mean that an option is included in the product, but that it just MAYBE part of the product! Apparently one has to look at the details to find out what is really included – the equifax report is not included even though it is CHECKED on the front page!! This is a trick and broder-line cheating!! never trust the company! pathetic!!!

  23. TS April 10, 2012 at 10:32AM

    MyFICO feels like a total scam! Dont use them!!

    I sent out my cancellation notice, they said they did not process it until after the 10 days and are now charging me $45!! STAY AWAY FROM THESE GUYS!!

  24. Engr. Oyewole Opeolu April 4, 2012 at 8:25AM

    Is it possible to check if someone is using my child’s social security number (identity theft). How would I find out?

    Thank you

  25. Dale Rodriguez March 17, 2012 at 6:37AM

    CreditGuru,

    Thank you for this article, at first I thought this was just an ad, but as I read further, your analysis on using just one report and one score for the baseline of all three makes a lot of sense.

    I just signed up for the trial, and you are right it packs a nice little punch.

    I will be reading more information your website, as I work on cleaning up my credit report to purchase a home within the next year.

    Thank you again for this valuable information.

  26. Lisa January 27, 2012 at 6:41AM

    I called in about 4 days after I started my trial and had them cancel. They didn’t give me a cancellation number, but said I would receive an email. The next day I hadn’t received anything yet, and had received a welcome letter to Equifax Complete Premier instead. I called back and spoke to another representative and gave me a cancellation number and said I should have received a cancellation confirmation within 24 hours.

    Think they’ve really cancelled? Who is to say that “cancellation” number isn’t really a “confirmation” number of a previous order?

  27. john o November 14, 2011 at 6:34PM

    no no no, myFico does NOT give your a real credit score. First of all, 90% of banks use the credit score from Experian, not Equifax or Trans Union, and myFico will not give you Experian’s Fico… but neither will Experian. There is nowhere you can see your REAL fico from Experian unless you apply for credit.

    Example…I paid for all 3 credit scores, 583, 587, 579 were the results. Then I separately paid for Myfico, result 579, I paid for Equifax, result 579.
    But when denied credit from Chase, they reported my Fico score was 608 according to Experian. Thank God Chase sent me that letter, I walked into Wells Fargo the next day and got a mortgage.

    So do not pay for a credit score, go apply for a mortgage even if you don’t need one, and they will tell you your REAL score

    • CreditCardGuru November 15, 2011 at 9:34AM

      Hi John, the reason for differences in scores between the bureaus is because they are each working off of different data. Rest assured, you do get a real FICO from MyFICO.

      As far as applying for a mortgage to find out your score… unfortunately the issue with that is it would result in a hard credit inquiry, which may negatively affect your score by a few points. When you check your credit report/score directly, it’s only a soft pull.

      • Mger March 11, 2012 at 8:49PM

        CreditCardGuru, I am sorry, I am not good in English, what you mean “When you check your credit report/score directly, it’s only a soft pull.” I don’t understand the meaning of “soft pull”. Does it mean that it will also hurt my score?

        Also what is the starting score and what will be approx score, after 1 year, if I payed everything correctly?

        Thanks.

      • CreditCardGuru March 12, 2012 at 11:14AM

        Hi Mger, a “soft pull” will not hurt you credit score. A “hard pull” can hurt your score under some circumstances.

        As far as starting score and where you will be after 1 year, to find that out I would recommend using the simulation tools (which are included with most credit score monitoring services, such as MyFICO).

        Good luck!

    • Alexandria February 5, 2013 at 2:01PM

      Ewww, bad advice…. Applying for a loan when you don’t need it does ding your score, it is a hard inquiry…

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