Our team of experts have conducted a thorough myFICO review, detailing all features, pricing plans, pros and cons, to aid in your choice. So, if you are looking for an intuitive and smart way to monitor your credit score and keep your identity safe while you’re online, you might want to try myFICO.
This tool helps you understand your credit score and make better financial decisions for your future. Check out what experts say to find out everything you need to know about this product, from how it works to what features it offers, and most importantly, how much it costs.
What Makes myFICO Stand Out?
FICO scores are a popular credit score standard. Approximately 90% of major lenders use this score while analyzing credit applications, and myFICO helps you monitor, understand, and perform various simulations with your scores.
myFICO gives you all the credit score info you need in a single, intuitive interface. Along with reliable identity theft monitoring and identity restoration features, educational resources, and comprehensive insurance, this myFICO review explores all the ways this company helps you monitor your credit.
Pros
- User-friendly interface
- Efficient and reliable credit simulator
- Multitude of features
- $1 million identity theft insurance
Cons
- More expensive than competitors
- There is no free trial period
About myFICO
myFICO has been around since 2001. It is part of the FICO company, and more precisely, it represents the consumer division in San Jose, California. FICO is responsible for all FICO credit scores, which are the most commonly used credit ratings available today.
myFICO is a credit monitoring and identity protection service that has received countless myFICO reviews full of praise and positive experiences. The service aims to help people understand their credit scores without having to resort to a third party by providing reports from 3 credit bureaus in an easy-to-use interface.
myFICO is available as an app or web version, and it also provides a helpful credit simulator.
Pricing Plans
There are three pricing plans you can opt for if you want to purchase myFICO, but keep in mind that there is no myFICO free trial period. There are plenty of valuable resources on the company’s forum to help you decide which pricing plan is the most suitable for you.
- The Basic Plan: $19.95 per month. This plan allows you to access FICO scores, mortgage, auto loans, credit reports, credit monitoring, identity restoration, and $1 million identity theft insurance.
- The Advanced Plan: $29.95 per month. With this subscription, you access complete 3-bureau coverage, updates every three months, identity monitoring features, $1 million identity theft insurance, credit scores, credit monitoring, 24×7 identity restoration, credit reports, mortgage, auto loans, and several other scores.
- The Premier Plan: The myFICO cost is $39.95 per month. This plan grants you complete 3-bureau coverage, monthly updates, credit reports, score, and credit monitoring, $1 million identity theft insurance, round-the-clock identity restoration services, and identity monitoring, FICO scores, as well as mortgage, auto loans, and much more.
All these subscriptions get automatically renewed each month if you don’t cancel your plan. They all contain FICO® Score 8 and may also provide additional score versions.
myFICO also offers the following one-time reports:
- A 1-Bureau Credit Report from Experian, TransUnion, or Equifax for $19.95
- 3-Bureau Credit Reports from Experian, TransUnion, and Equifax for $59.85
myFICO Review of Features
FICO Scores
Approximately 90% of lenders use FICO scores. If your future loan depends on them, you might want to opt for a tool that can show you in detail how well your score is doing. Knowing your FICO can increase your chances of obtaining loans, renting apartments, or even buying a house.
For this reason, myFICO can be the best credit monitoring service with FICO scores for all of your financial needs. It’s worth keeping in mind that other credit scores might differ by up to 100 points, which could have a significant impact on the outcome of your loan application.
myFICO provides 28 FICO score versions. Among them, you can access those most commonly used for car loans, credit cards, or mortgages, such as FICO Auto Scores, FICO Score 9, or FICO Bankcard. These scores are easy to find directly in the dashboard, in the Scores Tab.
Score Simulator
The myFICO score simulator is available with all three pricing plans. This tool allows you to make different simulations to understand how your investments could affect your credit score. For example, you can test and see how getting a house or a car loan would change your credit score. You can navigate through 24 credit scenarios, allowing you to make the best financial decisions.
Due to the highly intuitive interface, you can easily leverage this tool. To use this simulator, access myFICO.com login and go to the simulator link at the top of the page. After you pick a simulation, you can start experimenting with your FICO Score 8 by selecting different actions. myFICO also helps you see how your score affects the interest rates of your monthly payments.
Triple-Bureau Reports
myFICO is one of the few service providers in the credit monitoring niche that helps users reach bureau credit monitoring reports. You can get these reports by using the 3B subscription service that also offers you additional monitoring features for each one of your reports.
The typical myFICO credit report contains all the credit info you might require about your accounts, inquiries, and different public records or collections data. All this info is displayed, side by side, so that you can make a fast comparison between what you get from Experian, Equifax, and TransUnion. This way, you can notice the existing differences and any potential errors.
Credit Monitoring Features
If you are looking for a myFICO credit monitoring review or customer testimonials supporting this feature, look no further. Most clients praise these monitoring features as they allow them to stay ahead of changes and feel confident when they apply for a loan. myFICO monitors your credit files continuously, and if anything changes with your Experian, Equifax, or TransUnion credit files, myFICO’s system will immediately send you a notification.
Some of the most common changes may include new accounts, late payments, new addresses, or inquiries. This monitoring feature is also useful in preventing data theft and fraud acts. myFICO offers quarterly monitoring, as well as monthly updates. Once a new monthly or quarterly report is ready, you will receive a notification via email. myFICO also provides a score history graph to help you understand and monitor your credit score progress over time.
Identity Theft Protection
With so much sensitive data available online, the internet has become a dangerous place. This FICO service not only helps you sort out your credit score and make better financial decisions but also provides a set of data protection tools that will safeguard you against malicious attacks.
myFICO reviews report that the program constantly scans a variety of websites and databases that trade personal information. If your name or other essential personal details appear on black market websites, for example, myFICO will immediately send you alerts via email or SMS.
Alerts
myFICO uses more than 30 different types of alerts to keep its customers updated on their credit and identity status. Either by using the app or web version, you can receive myFICO contact notifications in the following instances:
- Brand new credit accounts
- New credit applications
- New public records, for example, those related to bankruptcy
- Address changes
- New collection accounts, once they are listed
- Changes in your balance, credit limits, or credit account status
- Name changes
- New employment
- Fraud alerts
Identity Theft Insurance
The identity theft insurance service also offers comprehensive insurance coverage of up to $1 million, which alone might be worth the myFICO cost. The insurance is part of myFICO’s identity theft protection package, and it covers the cost of recovery should your identity be stolen or used for fraudulent purposes.
Identity Restoration Capabilities
myFICO helps you get your identity back if you have been a victim of identity theft. There is a team of specialists handling the restoration services, and based on a limited power of attorney, they can manage the entire restoration procedure to help customers get their identity back. According to our myFICO review, the company communicates with creditors, credit bureaus, and other institutions to complete the necessary paperwork.
Lost wallet protection is another related feature you can use to protect your bank accounts and recover your documents if you lose your wallet. myFICO’s agents can offer you support in replacing identification and canceling credit cards.
Mobile App
myFICO’s mobile app works very well on iOS or Android, as many myFICO reviews mentioned. If you want to install the app instead of using the service on your PC, you will have access to the same features. The app is easy to install and use, and it allows you to keep a close eye on your credit scores even when you’re on the move.
The app version allows you to easily manage the type of alerts you’d like to receive so that you don’t feel overwhelmed or bothered by notifications.
Intuitive Interface
One of the highlights many myFICO reviews focus on is the user-friendly interface. While other identity theft and credit monitoring apps look like old tax programs, myFICO provides you with all the info you need in a simple and intuitive platform. Its modern design and bright credit score indicators help you immediately find the information you need.
The alerts are also easy to find, review, and resolve. All the features you get with myFICO are easy to understand and access with a few clicks without wasting time. The credit simulator is particularly efficient as it allows you to experiment with different straightforward scenarios. The myFICO sign-up process is also fast and intuitive.
Educational Resources
If you need more information about what FICO credit scores imply, myFICO can help you out with plenty of beneficial resources. You can find valuable information about its monitoring tools and scores on the official myFICO website.
Learn more about how credit scores are calculated, how you can improve your scores, credit bureaus, credit report errors, identity theft protection, and more. Visit the myFICO forum with approximately 300,000 members, and gain insight from other users on a variety of topics.
myFICO Customer Service
myFICO doesn’t let its users down when it comes to customer support, with several different ways to ask for assistance. myFICO has a customer support department from Monday through Friday from 6 AM to 6 PM Pacific Time, and it’s also available on Saturdays from 7 AM to 4 PM.
You can also reach out to myFICO’s customer support team by email, and if you have a generic issue, you can also find answers to many questions in the search support center at myFICO for free.
Summary
myFICO is one of the most popular credit and identity monitoring tools available today. It boasts a comprehensive package and offers credit reports from three separate credit bureaus. This service is accredited by the Better Business Bureau, and it holds an A+ rating.
myFICO is a very intuitive tool, which can help users better understand their credit score and perform easy credit simulations while also protecting their identity. This service offers complex security and reporting features and an easy-to-use interface. If you need any help using the service, there are different contact options, along with a rich database of educational resources.
People Also Ask
Is myFICO worth it?
If you are the type of customer willing to pay a bit more for quality services, then myFICO is worth a try. This tool will offer you a wide range of different features that can help you monitor your credit score. One of the major highlights of this tool is its simulator. You can use it to experiment with different scenarios to understand how certain financial decisions will affect your credit score.
Is myFICO legit?
myFICO is a legit service as it provides just what it promises. This product has been developed by FICO’s consumer division and is the company responsible for FICO credit scores. For the past 25 years, it has been synonymous with trust and reliability.
myFICO is available both as an app and a web version, and either option offers the same features and ease of use. This service has built an excellent reputation over the years due to its accurate and trustworthy credit monitoring and simulation features.
How accurate is myFICO?
In terms of credit monitoring and credit simulation, myFICO is one of the most reliable apps you can use. Based on customer testimonials, the credit simulations you can perform in this software are very close to the results you get from the bank while applying for a loan. This app not only helps you understand your credit score and how you can improve it, but it also allows you to monitor and make sure you’re not exceeding assigned limits.
Is myFICO safe?
myFICO is a safe and reliable credit monitoring service provider. With this tool, you can access multiple helpful features, and it is among the best choices for people who need to understand or improve their FICO credit score. Numerous positive reviews highlight this service’s efficiency.
myFICO also boasts various security features that will help you steer clear from malicious attacks and keep your personal and financial data safe. myFICO provides a trustworthy and reliable identity theft protection package that also includes $1 million insurance coverage.
How often does myFICO update?
It’s essential to have up-to-date credit score reports if you’re preparing to apply for a new loan. Outdated and inaccurate data can lead to unpleasant surprises when you go to the bank for a new credit card or mortgage. For this reason, myFICO constantly updates its system with the latest credit data available for its users.
The frequency of these updates depends on the plan you purchase. With the most inclusive one, you get updates every three months. Monthly updates are also available, so you can rest assured that you will get an accurate overview of your credit scores. If any changes regarding your reports appear, you will be notified by the regular updates you get from myFICO by email.
Does myFICO hurt your credit?
myFICO or any other credit monitoring tool can’t affect your credit. These services aim to help people track their credit score changes and know what to expect when applying for a loan, credit card, or mortgage. By accessing myFICO, you allow this tool to monitor your credit.
myFICO will not perform any action that could affect your credit, nor will it change any of your financial or personal data. Besides helping you keep track of your credit score, myFICO also provides you with additional features such as identity protection or a useful credit simulator. To learn more about this service, you can start by reading the latest myFICO reviews, like this one.
