American Express, the largest U.S. credit card issuer by purchase volume is showing its cardholders their FICO score.
American Express began showing all its consumer charge card and credit card users their FICO score for free this week. It follows on the footsteps of Citi, Discover and Chase, which had already begun showing the scores to their cardholders.
The moves are tied to a program that Fair Isaac Corp., the creator of FICO scores, launched in late 2013, that has helped FICO achieve more name recognition with consumers. There are currently 45 lenders in this program, according to FICO. For years, there has been a lot of confusion among consumers over which credit scores matter. While there are many types of credit scores, FICO scores matter the most because the majority of lenders use these scores to decide whether to approve loan applicants and at what interest rates.
Some 65 million consumers had free access to their FICO scores as of June, according to FICO. That’s up from 32 million late last year.
Consumers have many FICO scores and they generally see just one score with each lender participating in this program. American Express says it’s showing consumers the score that’s based on their credit report information with Experian. That is also great news since TransUnion is the easiest to access and Citi provides a Equifax based score.
American Express had started the pilot program last year, offering the free FICO score on a few credit cards. It has now been rolled out to all card holders. You can find it in your account on the right sidebar under the last log in information.
If you do not see your FICO site in your Amex account then most likely you need to remove all authorized users cards. Leave just the primary card and the score should show up.