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Citi Cards Now Provides Complimentary FICO Scores

Citi Cards Now Provides Complimentary FICO Scores

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This article was last updated Jan 26, 2015, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.

Citi has begun delivering free FICO Scores to Citi-branded consumer credit cardmembers, as previously announced last fall. Beginning immediately, millions of Citi cardholders can access their FICO Score online at www.citi.com/creditscore after logging in with their account credentials. Citi will provide monthly updates to the FICO Scores, based on Equifax data.

Citi is among the first of major U.S. banks to provide a credit score commonly used by lenders, following behind Discover and Barclaycard, which began offering free FICO scores last spring. Through Citi’s web site, cardholders will have access to their FICO Score as well as educational resources describing factors contributing to their score.

How Free FICO Scores Helps Consumers

Since FICO Scores are the most used credit scores in the industry, having access to the same scores often used to make lending decisions will provide consumers with the most accurate representation of their credit score. Receiving monthly updates to their score will also help consumers begin to understand what types of actions impact their credit score and provide insights into credit scoring factors.

Ralph Andretta, Head of Product Management for Citi Cards, weighed in on this topic, stating, “Our commitment is to deliver value to our cardmembers whenever they reach for their card – and this includes information and insight to help them plan for the future.”

FICO Scores will be refreshed monthly based on Equifax data to give cardmembers the most up-to-date information, which will include:

  • Their FICOScore with  two key factors impacting their score
  • A FICO Score Meter to show cardmembers where they fall within the credit score range
  • A visual of the score range to help them understand what each range means to lenders
  • A breakdown of the factors that contribute to FICO® scores

Last year, the Director of the CFPB, Richard Cordray, urged credit card companies to give customers free copies of their credit scores. He believes free access to your credit score will make it easier for consumers to spot problems with their credit report.

Above and Beyond Customer Service

Citi has committed to providing additional help to their consumers to answer any questions they may have. Citi will have trained customer service specialists, available via chat @AskCiti, email and phone, to provide general information or to guide cardmembers through the online experience.

In addition, Citi cardmembers can contact Equifax directly for credit-related questions. While the FICO Score information is now accessible online, beginning later this year, Citi cardmembers can request their FICO Score to be delivered via snail mail by contacting Citi Customer Service.

FICO is also committed to helping all consumers. Jim Wehmann, executive vice president of Scores at FICO said, “FICO is committed to consumer empowerment and increasing transparency to help people manage their credit health.

The program is part of FICO Score Open Access launched in late 2013, which allows financial institutions to offer their customers the same FICO Scores used to help manage their accounts. FICO scores provided by Citi are not considered a formal credit bureau inquiry, and therefore do not negatively impact the cardholder’s credit score.

Individuals who would like to learn more about FICO Scores may visit www.ScoreInfo.org.

To learn more about the consumer benefits of Citi branded credit cards visit www.citi.com/cardbenefits.

*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.

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