FICO® Standard – Review

March 13, 2009 by  
Filed under Product Reviews

FICO® Standard – Review

FICO® Standard is the entry-level product from myFICO. For $15.95, it allows you to pull your FICO® score from Experian or Trans Union and then dive into all the details of your credit report.

The structure of this product is nice. They have 9 clearly labeled tabs divided into 3 areas:

  • Credit Score
    • FICO Score Summary
    • Understanding Your Score
    • How Lenders See You
  • Credit Report
    • Credit At-a-glance
    • Credit Accounts
    • Inquiries
    • Collections
    • Public Records
  • Next Steps

The Score Summary gives a quick overview of my score, but switching to the Understanding your score tab shows exactly what’s hurting and helping your score.  They’ve taken the “reason code” which can be a daunting industry term and translated it to things that hurt and things that help.

Next, the how lenders see you tab puts your FICO® score to work to show you your interest rate and payments tab.

The credit reports sections do a great job of being concise showing an overview of account status and then all your accounts on a single page.  Collection, inquiry and public record data can be viewed as well.

Finally, once you are through your reports, you can look for errors and dipute them with a tool that generates the letters for you.  You can also do “what-if” scenarios on your FICO credit score using the Score Simulator.

All and all.  This product has a lot of features for $15.95.

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