In the recent podcast on How to Track All 3 of Your Credit Scores, I mentioned that I would have a follow up article that tracked all the cards that offer free credit scores – whether it’s an official FICO score or not – and the credit bureau the data are drawn from.
Here is the promised article, and I’m including the list of credit cards offering credit scores and additional information about each offer.
American Express gives you free access to your FICO score based on the FICO 8 formula. I’ve carried an Amex card for decades and recently pulled my FICO score for the Amex website. Here are some of the details:
Here are two of my favorite cards from American Express:
The Amex EveryDay® Credit Card from American Express offers up to 2x rewards. You’ll earn 2x points at U.S. supermarkets (on up to $6,000 per year in purchases (then 1x)) and 1x points on other purchases. As a bonus, you’ll also earn 10,000 points after you use the card to make $1,000 in purchases in your first 3 months. And if you use your card 20 or more times on purchases in a billing period you’ll earn 20% more points on those purchases. There is no annual fee.
For a limited time – American Express also offers a 0% APR rate for 15 months on purchases and balance transfers with no fee on the balance transfer! This offer is available to all new customers that make their balance transfer inside of 60 days.
The Blue Cash Preferred® Card from American Express is another top-rated credit card. The list of benefits is rather long, so here goes–
- Get a $200 statement credit after you spend $1,000 in purchases on your new card within the first 3 months.
- Earn 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%).
- Earn 3% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
- Get a 0% APR for 12 months on purchases and balance transfers.
There is a $95 annual fee.
You can check out other American Express cards here.
Capital One provides a non-FICO score, called CreditWise. The score is calculated based on the TransUnion VantageScore 3.0 model. Customers can, of course, access their scores through this system. But now, so can non-Capital One customers.
CreditWise is available online and through a mobile phone app. You can sign up for the app even if you aren’t a customer, and the score will remain free.
The service offers the following features:
- Credit Simulator – This tool estimates how future credit behavior could impact your Credit Tracker score. For example, you can determine how a 30-day late payment on a mortgage might affect your score – or going 12 months without one. It can also help you find the best way to improve your credit score by estimating the impact of positive behaviors like making payments on time or paying off credit card debt. Unlike some other credit simulators, this tool will actually let you account for multiple behaviors at once, including taking out a mortgage, paying down debt, letting an account go delinquent, or even paying child support.
- Credit Alerts – You can receive alerts for factors that affect your score, including a new inquiry, recently opened account, delinquent account, improved account, or bankrupt account. The alerts go out when your Trans Union credit report changes.
- Grade Overview – This feature enables you to see the major factors that are affecting your credit score.
Capital One offers several great card options. Here’s three of the best, in my opinion (I carry the first one).
The Capital One® Venture® Rewards Credit Card pays out 2 miles for every dollar in purchases. Use these miles for travel, and the card is a 2% rewards card. I’ve found it very easy to redeem miles for travel purchases charged to the card. And there are no blackout dates or other restrictions.
In addition, you can earn a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening. This bonus is equal to $500 in travel. There are no foreign transaction fees, and the annual fee of $95 is waived the first year.
The Capital One® Quicksilver® Cash Rewards Credit Card is an excellent cash back rewards option. You earn 1.5% cash back on every purchase, every day. You can also receive a $150 cash bonus after you spend $500 on purchases within 3 months from account opening. There’s also a 0% APR on purchases and balance transfers for 15 months.
The card has no annual fee and charges no foreign transaction fees.
Finally, the Capital One® Platinum Credit Card is ideal for those trying to build their credit. While there are no rewards with this card, it’s easier to qualify if you have limited credit. And it gives you access to your credit score and tools to help you improve that score.
Discover provides free FICO scores from your TransUnion credit report. It’s available on your monthly statement and online. You get the score and the two main factors that affect it.
Here’s what my score report from Discover looks like:
Discover offers some of the best cash back and 0% cards available today. Here are my two favorite, both of which offer free access to your FICO score.
Discover it®- Cashback Match™–You earn up to 5% cash back on every purchase. Discover doubles your cash back at the end of the first year (effectivley giving you up to 10% cash back). You also get a 0% APR on purchases and balance transfers for 14 months. And there is no annual fee.
I’ve carries this card for years. Back in the day, it was called the Discover More card. In my opinion, it is one of the best all-purpose credit cards available today.
Discover it® Miles–This is the travel version of the Discover it lineup. You’ll earn 1.5x miles per dollar on every purchase. Discover will double your miles at the end of the first year. This effectively turns the card into a 3% rewards card the first year. There are no blackout dates on travel rewards. In fact, you just redeem your miles for a statement credit. There is no annual fee.
With both of the above cards, you also get free social security number alerts. Discover monitors thousands of risky websites and alerts you if it detects your social security number being used.
Recently, Discover made its credit scorecard available to non-customers, as well. As when you pull your own credit report, this one doesn’t impact your credit score at all. It’s not as comprehensive as the FICO score for customers, as it doesn’t provide historical scores. But it does provide information on factors that are helping or harming your credit score. Unlike its score for customers, this FICO score is provided through Experian. And it doesn’t come with social security alerts.
Barclaycard provides FICO scores to its cardholder customers on its website. The score is based on your TransUnion file.
It also provides email alerts, letting you know when your score changes. The alerts list the two main factors that have caused the score change. The service also provides a historical chart that tracks the movements in your score, once you have a three month history in the program. There is no charge for this service, and no attempts at up-selling you into other programs.
The email alerts, historical tracking, and the fact that Barclaycard provides you with your actual FICO score are major advantages with this program. Many other free credit score sources, whether they are provided by credit card issuers or other sources, give you a parallel score rather than the actual FICO that is used by most banks for lending and mortgage purposes.
Commerce Bank customers can now access their FICO scores on their monthly credit card statements. The score is automatically reported on each statement, and includes a list of score factors and options for improving your score. Plus, you can see how your current score might impact interest rates and other credit terms.
First Bankcard through First National Bank offers FICO scores to its cardholders and you can view it online. They use the FICO 8 Bankcard Score, which is the score the bank purchases monthly to keep track of customers’ creditworthiness. Like other credit card credit score providers on this list, First Bankcard also provides you with the main factors that determine you score.
As of late 2015, USAA started offering members, not just credit card holders, access to their free credit score. The CreditCheck & ID Monitor solution from USAA comes in several different levels.
The basic level, CreditCheck 1, offers daily credit monitoring through Experian, updates and alerts about changes in your credit score, and access to your credit score and historical scores. The credit score provided at this level is the Experian VantageScore 3.
At the paid levels (either $7.95 per month or $12.95 per month, depending on the level), customers can access additional benefits like twice monthly credit score checks, reports from the other credit reporting bureaus, and identity protection alerts.
US Bank provides its cardholders with their credit score as provided by Experian directly from the Experian website. Its service is called CreditManager Plus. The scores are available for free to US Bank cardholders, and you simply need to log into your US Bank account and click on a link on the right side of your statement that says, “Know your credit score? Check it free.”
Walmart Credit Card
Walmart Credit Card offers a monthly FICO score for cardholders who enroll in electronic statements. Walmart Credit Cards also provide the top two reason codes affecting the score. The service is also available at no cost, and will not impact your credit score (pulling your own credit is considered to be a “soft inquiry” in the industry, and will have no affect on your scores).
Credit Cards That Offer Free Credit Scores
|Credit Card||Score Type||Details|
|Barclaycard||FICO||1. Email Alerts.
2. Two main credit score factors
3. Historical Tracking Charts
|Capital One||Credit Tracker (based on Transunion New Account Model)||1. Online and Mobile App
2. Credit Simulator Tool (measure future behavior)
3. Credit Alerts, including specific reasons for the alert.
4. Grade Overview, telling you the top reasons for your score.
|Discover||TransUnion FICO||Available on monthly statement and online. Score, plus top two factors.|
|First Bankcard||FICO 8 Bankcard Score||Available online. Reports top two factors in determining your scores.|
|US Bank||Experian, presumably FICO||Service is provided direct by Experian, which is one of the three major credit repositories.|
|Walmart Credit Card||FICO||Available with online enrollment. Provides top two reason codes for your scores.|
Bonus: Ally Bank
Ally Bank offers free FICO scores to its auto loan customers.
These are the 12 major credit card issuers (plus an auto lender!) currently offering free credit scores to their customers. I wouldn’t be surprised if more credit card companies jump on board, as this is now becoming a “standard issue” benefit in the credit card world.
At any rate, many of these companies offer great credit cards that are worth having, anyway. So if you need to keep better track of your FICO score, consider doing it for free using a card from one of these companies.
Know of another credit card company or lender offering access to free credit cards? Let us know in the comments.Topics: Credit Cards