MEMBERS CAN GET THEIR FICO® SCORE FOR FREE…NO STRINGS ATTACHED!
Have you ever wondered what your credit score was but didn’t want to pay for it on one of those suspicious-looking websites?
You’re in luck! All Ironworkers USA Credit Union members who are 18 years of age or older are eligible to receive their FICO® Credit Score anytime and anywhere free of charge through their online banking or mobile app. No strings attached – and checking your score will not affect your credit in any way.
“For quite some time, our members have asked us about their credit scores and how and why it changes over time. They’ve wanted to understand how it affects the rates they are eligible for,” explains Teri Robinson, CEO of Ironworkers USA Credit Union. “Because we believe knowledge is power, the Credit Union decided to offer this tool to our members who have a checking account or loan with us. This way, we can put more power into the hands of our members, which supports our goal to empower members through financial knowledge and education. Every day, we strive to help you gain financial stability and success.”
VIEWING YOUR FICO® SCORE IS AS EASY AS 1, 2, 3.
- Login to Online Banking or the Mobile App and find “My FICO® Score” under Services.
- Click the “FICO® Score Opt In” button.
- View your FICO® Score.
How easy is that? You will also have access to information about key factors affecting your score as well as credit education to help you stay on top of your score.
WHAT ARE FICO® SCORES?
They are the most widely used credit scores and are the financial industry standard. A FICO® Score ranges from 300-850 and is calculated from the data on credit reports at the three major consumer credit bureaus.
Nearly all lenders in the U.S., including Ironworkers USA Credit Union, use FICO® Scores to help them quickly, consistently and objectively evaluate a potential borrower’s creditworthiness.
WHAT GOES INTO A FICO® SCORE?
FICO® Scores are calculated from the credit data in your credit report. This data is grouped into five categories and holds varying weights of importance. These categories are:
- 35% – Payment history. Whether you’ve paid past credit accounts on time.
- 30% – Amounts owed. The amount of credit and loans you are currently using
- 15% – Length of credit history. How long you’ve had credit
- 10% – New credit. Frequency of credit inquiries and new account openings
- 10% – Credit mix. The mix of your credit – retail accounts, installment loans, finance company accounts, and mortgage loans
WHY IS KNOWING YOUR FICO® SCORE IMPORTANT?
Reviewing your FICO® Score can help you understand how lenders view your credit risk and help you better understand your financial health.
BENEFITS OF CREDIT SCORE AND MORE:
- Daily Access to your Credit Score
- Real-Time Credit Monitoring Alerts
- Credit Score Simulator
- Personalized Credit Report
- Special Credit Offers
- And More!
The benefits are endless, so there is no need to wait to start monitoring it today! If you have questions about how to access your FICO® Score or how to improve it before applying for a loan, give us a call at 877-769-4766 or stop by one of our branches today. We’re here to help you make the most of your financial life!