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MyFico Review – Credit Monitoring Service – I Love Making Money

How to Check Your myFICO Score and Get Monthly Credit Monitoring.

I Love Making Money Staff & writers

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What is myFICO?

myFICO is the consumer division of FICO ®, launched in 2001 to help consumers get their FICO ® Score directly from the people that make the FICO ® Score. … If you’re actively seeking credit, consider monthly updates to your credit report and full set of FICO ® Scores to make sure they are accurate and up-to-date.

As we all know FICO is the most reputed credit score model in the country used by lenders to determine your creditworthiness. MyFico is the consumer division of the Fair Isaac Corporation (FICO). 

Does myFICO give real FICO scores?

FICO Scores are used in over 90% of lending decisions. myFICO gives you instant online access to your FICO Scores most widely used in mortgage, auto and credit card lending.

  • View the right FICO score (not just your credit score)
  • Learn what’s affecting your credit in real time.
  • See the interest rated you qualify for right now.
  • Know where your credit stands with three agencies.
  • Compare how your FICO scores with others.
  • See how to increase your FICO scores immediately.

If you’re looking for a detailed report on your credit score, then click here to check your FICO score and get a myFICO free trialUpdate: It’s $4.95 which is 75% off the price.

What are myFICO prices for 2020?

myFICO offers the service of credit report monitoring. Their reporting is categorized into 3 levels:

  • Basic
  • Advanced
  • Premier

Let’s explore each myFICO plan. 

Basic – $19.95 per month

  • Experian credit reporting
  • Monthly updates for accountability.
  • This plan add scores for mortgages, auto loans and more
  • Credit reports can be accessed anytime.
  • Score and credit monitoring service.
  • 24/7 identity restoration services. Through their site, you can restore the identity any time.
  • FICO Scores can be accessed anytime.
  • $1 million identity theft insurance. This is huge. 

Advanced – $29.95 per month

  • With this plan, all the three credit bureaus are covered. This increases the possibility of getting loans and credit cards
  • Quarterly updates
  • FICO scores are available 24/7
  • Scores for mortgages, credit cards, auto loans and more
  • Credit reports can be accessed 24/7
  • Score and credit monitoring
  • In case of identity theft, you will be covered with $1 million identity theft insurance
  • 24/7 identity restoration services. Through their site, you can restore the identity any time.
  • Identity monitoring

Premier – $39.95

  • Complete 3-bureau coverage. All the credit bureaus are covered.
  • Monthly updates will be sent to the customers.
  • FICO scores
  • Scores for mortgages, auto loans and more
  • Credit reports
  • Score and credit monitoring
  • $1 million identity theft insurance
  • 24/7 identity restoration services
  • Identity monitoring
MyFico Review and MyFico Pro's and Con's

Does MyFico Work?

Want a more complete look at your credit? Get your FICO® Scores and credit reports from all three credit bureaus. All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions.

Overall
9.7/10
9.7/10
  • Comprehensive Credit Picture - 10/10
    10/10
  • Value for Price - 8.5/10
    8.5/10
  • Identity Theft Monitoring - 10/10
    10/10
  • Instant Alerts - 10/10
    10/10
  • Credit Monitoring - 10/10
    10/10

Pros

  • 24/7 Fraud Protection
  • Mobile Alerts
  • Updated FICO Score with Each Alert
  • 1 Million Identity Theft Insurance
  • All 3 Credit Bureaus
  • Convenient
  • All in One Place
  • Resolve Issues Fast
  • Will Not Hurt Your Score
  • 128-Bit Encryption

Cons

  • Higher Cost

In addition to all the features mentioned above, you get an unique analysis of your FICO score with each plan. This analysis helps you see where you stand when compared to people with scores above 785 range. 

This will make you understand how your score impacts things like monthly repayments, loan interest rates, and more. And you can preview the impact of certain activities do for your score with simulations. 

MyFico provides an useful option. If you don’t want to pay for a subscription, you can also pay for a one-time report from one or all three of the major credit bureaus.

What is a My FICO Score?

A FICO Score is a three-digit number based on the information in your credit reports. It measures how long you’ve had credit, how much credit you have, how much of your available credit is being used and if you’ve paid on time.

When you apply for credit, lenders need a fast and consistent way to decide whether or not to loan you money. In most cases, they’ll look at your FICO Scores.

You can think of a FICO Score as a summary of your credit report. It measures how long you’ve had credit, how much credit you have, how much of your available credit is being used and if you’ve paid on time.

Not only does a FICO Score help lenders make smarter, quicker decisions about who they loan money to, it also helps people like you get fair and fast access to credit when you need it. Because FICO Scores are calculated based on your credit information, you have the ability to influence your score by paying bills on time, not carrying too much debt and making smart credit choices.

What’s a Good FICO Score?

In general, anything about 670 indicates good creditworthiness by lenders. The higher your score, the lower the risk. Here’s a credit score scale to see where you stand.

  • Less than 580 = Poor
  • 580 to 669 = Fair
  • 670 to 739 = Good
  • 740 to 799 = Very Good
  • 800+ = Exceptional

Which MyFICO Plan Is The Best?

If you like to have complete control over your personal finance and want to see what lenders see in your report, then MyFICO’s 3B Ultimate is a great option for you. The investment is worth it. “I Love Making Money” recommends this product to those who need a powerful report system.

One of the key benefits to myFICO is that you get your score, and you get information on how to improve your score and let you know which factor helps or hurts your score.

Pro’s of Using myFICO

  • Unlike free credit score tools provided by your credit card companies, MyFico’s credit report is an extensive, in-depth, and full picture of your credit health. 
  • Allows you to see what lenders see. You can preview the report exactly as to how lenders will see it.
  • Provides access to ID theft recovery (Identity Ultimate plan)

Cons Of MyFico

  • When compared to other services that offer credit reports, MyFico costs more. Price is always subjective to how much money you have.

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How to Signup for myFICO Credit Monitoring

If you pay for everything in cash, then I don’t recommend the monthly service (unless you’re at risk for identity theft). If you’re saving for a down payment on a house, concerned with identity theft or want to set credit score goals to improve your credit, then here’s how to signup for myFICO.

Step 1: Click Here to Signup for the $4.95 Trial

Step 2: Get a Complete Credit Overview Immediately

Step 3: View Score Versions for Mortgages, Auto Loans, Credit Cards and Others.

Step 4: Setup Monitoring for Instant Alerts

Step 5: Sit back and relax. You get lost wallet protection, 24/7 identity restoration and $1 million ID theft insurance.

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