Every other week, another company announces that they were hacked and that personal information was stolen. This is terrifying. And the most important thing you can do as a consumer is to keep track of your credit. This is where myFICO comes into play. There are numerous credit monitoring services available, some of which are free and others that require payment. However, the majority of these other businesses use “other” credit scores. Only myFICO employs the FICO score, the most widely used consumer credit rating.
California-based MyFICO was founded in 2001 to assist people in obtaining their credit scores without the use of a third party. To that end, each myFICO plan includes a FICO score simulator, which allows you to estimate the effects of 24 different financial decisions on your credit score, such as taking out a home or auto loan or increasing your credit limit. While some of the companies in the list of the Best Identity Theft Protection Services of 2021 provide credit score simulators, myFICO’s credit simulator and related tools are more comprehensive.
Subscriptions and one-time product purchases for credit reports, credit monitoring, identity theft, and other services are available from myFICO. For those looking to get a loan in the coming months, knowing your FICO Score and the factors influencing it can help you improve it, leading to a lower interest rate.
The primary goal of myFICO is to provide easy access to regularly updated credit reports and scores. MyFICO does, however, provide some basic identity theft protection services to its subscribers on the Advanced and Premier plans ($29.95 and $39.95 per month, respectively). The company searches the “dark web” for your information and sends alerts to your phone via its app, text, or email when it finds it. You can also set up alerts for different types of credit events.
myFICO is a credit monitoring service that also has identity monitoring capabilities. Professional reviewers point out that the majority of its features are credit-centric, which makes it unsuitable for those looking for comprehensive identity theft protection. Professional reviewers also point out that myFICO’s pricing isn’t particularly competitive. The Premier plan is more expensive than the majority of the other services that were rated. And because there is no free trial, you must pay for the service right away.
myFICO has three different plans: Basic, Advanced, and Premier. The Basic plan ($19.95 per month) includes $1 million in identity theft insurance as well as identity restoration services available 24 hours a day, seven days a week. It also offers daily Experian score monitoring and monthly access to credit reports from all three credit bureaus. All myFICO plans, unlike others, provide specialized credit scores used in mortgage, auto, and personal loans.
The Advanced plan ($29.95 per month) gives you access to your credit reports quarterly. You get FICO scores from three bureaus as well as the dark web, Social Security number, and address monitoring. The Premier plan, which costs $39.95 per month and includes the same features as the Advanced plan but allows monthly access to credit reports, is the most expensive.
MyFICO’s specialized credit scores are useful for those looking for auto or mortgage loans when it comes to credit monitoring. However, compared to the other companies with similar ratings, the company provides fewer identity theft protection features. Furthermore, most low-cost ID theft protection plans in other ratings include dark web and basic identity monitoring, which myFICO does not.
Unless credit monitoring is particularly appealing, shoppers looking for comprehensive monitoring should consider other companies in reviewers’ ratings. Professional reviews seem to agree that myFICO does this exceptionally well.
Basic ($19.95 per month), Advanced ($29.95 per month), and Premier ($39.95 per month) are myFICO’s three plans. The Advanced or Premier plan is required for those who want Social Security number monitoring and other identity theft protection services. All plans include a $1 million identity theft insurance policy and restoration services.
Other features included with your subscription include tools and analysis, such as score simulators, which allow you to see the impact of debt repayment on your credit score. You’ll also have access to “How Lenders See You” and “Interest Rates,” which show you the interest rates you’ll get based on your credit score.
Every strategy includes identity restoration. You’ll receive $1 million in identity theft insurance, a phone number to call for 24/7 identity restoration assistance, and lost wallet protection, which covers credit cards, debit cards, checkbooks, driver’s licenses, Social Security cards, passports, military identification cards, traveler’s checks, and other items.
You will be able to view your current FICO Score as well as your credit history with all three credit bureaus (except for on the Basic plan). You’ll receive updates as your score and account balances change. TransUnion updates are probably the most useful because they show your total debt balance by categories, such as Bankcard (credit cards), Mortgage, and Personal Finance (student loans and HELOC).
FICO does not issue a single score. There are several types of credit cards, mortgages, and automobile loans. Some scores are rarely used, which is why you may have never heard of them. Other FICO Scores include mortgage versions 2, 4, and 5, as well as auto lending versions 8 and 2.
When you log into your account, you’ll see a breakdown of what’s affecting your credit score for each credit bureau. The following are the components that make up your score, along with their weights: Payment history: 35%, debt: 30%, credit history length: 15%, new credit: 10%, and credit mix: 10%. Subscriptions include alerts when your information is found on suspected black market websites, in addition to credit monitoring alerts.
myFICO CANCEL GUIDES
Get together the following account information:
First Name
Last Name
Phone Number
Email Address
Username
Password
Billing Address
City
State/Province/Region
ZIP/Postal Code
Country
Reason for Cancellation
Last 4 Digits of Card
Date of Last Charge
Amount of Last Charge
Phone (Live Agent)
Follow these steps:
Call 1-800-319-4433
Request that the agent cancel your account
When asked, give the agent your account information
Request that the agent provide you with a confirmation number or email
Retain any confirmation numbers or emails you receive for your records
