Discover announced on Thursday the complete rollout of free FICO scores on cardholders’ statements, following the pilot launch of the feature in November.
FICO scores provided by Discover are based on data from TransUnion. Discover is the first major credit card issuer to provide free FICO scores to cardmembers on their monthly statements.
“The response from Discover it cardmembers – who already receive free FICO Scores on their monthly statements – has been overwhelmingly positive, so we’re thrilled to extend this service to other Discover cardmembers,” Julie Loeger, the senior vice president of brand and acquisition at Discover, said. “Knowing their score can help our cardmembers achieve their personal goals and better prepare to reach life’s many major milestones.”
Discover will also provide cardmembers with two key factors detailing how information from a person’s credit report influenced their FICO score. Cardmembers are able to view the information by logging into their Discover accounts.
“Beyond sharing the FICO Score itself, we’re now taking it one step further by providing consumers with the specific reasons their score is what it is,” Loeger said. “A knowledgeable consumer is a powerful one, and we’re happy to partner with FICO and TransUnion to give consumers the information they need to make smart financial decisions.”