MyFico Credit Service Review

Author: Rob K. Blake | Date: November 12, 2008 | Filed In: Mortgage Credit

I have written extensively here on FICO scores and how to improve one’s credit rating to be competive when it comes to getting a mortgage or other types of loans. I have been meaning to get to a service which purports to issue all of a clients credit scores instantly online for a fee….the MyFico Credit Service.

So here goes…

MyFico Credit Service Review

The credit reporting service at MyFico.com is simply a paid service where you get a summary of your credit history complete with credit scores. If you want only one bureau the cost is $12.95 or if you want all three bureaus it is $47.85…a one time fee.

You’ll get all 3 credit scores, the ability to view the summary reports for 30 days, and an explanation for the risk factors used to calculate your scores.

The process can get a little cumbersome if during the sign-up phase you can’t verified immediately through the websites questions and answer phase it puts you through once you’ve paid. They provide a a customer service phone number to use if the online method fails.

The MyFico.com provides a real service for a reasonable price. You get to see and understand (the FICO Score explanations really do help) all three of your credit scores…not a bad thing. This can be especially useful if you are currently shopping for a big ticket item like a car or a mortgage. Car loans are approved on the FICO score alone, so just order that score and save a little money. Mortgage are approved using all three scores, so if you are thinking of using the system prior to apply for a mortgage, order .

With the good comes the bad…and the bad on MyFico.com is they try to sell you a recurring membership for fraud detection which provides quarterly credit reports, ID theft alerts, and ID theft insurance…all of which I think is a waste of money.

Nobody needs a quarterly credit report…not now…not ever.

There were some complaints about the recurring billing going on when ordering the reporting only service through the Suze Orman website which I found on the ripoffreport .com, you can read that here. You can read all the MyFico.com complaints I found in Google, just click the link.

So, to wrap up this review of the MyFico.com Credit reporting service:

Good for big ticket shoppers or those new to credit reports. Excellent for those mortgage shoppers needing all three credit scores reported in the .

So by all means, use the service if you are mortgage shopping so you can’t lied to by an unscrupulous mortgage provider.

Good Luck!

Author: Rob K. Blake