How to Find Your True FICO Score | Chase (2024)

There may be many reasons why you're looking to get your FICO Score—from pure curiosity to needing to know your score so you can improve it to taking out a loan or making a large purchase. Whatever the reason is, you want to be sure that you're getting your true FICO Score. Keep in mind that a FICO Score is different from the VantageScore 3.0® model, which is used to generate your free credit score when you enroll in Chase Credit Journey®. With this free online tool,your score is updated every 7 days (should you check it frequently) with no impact to your score.

In this article, we'll explain:

  • What is a true FICO Score?
  • 3 steps to take to find you true FICO Score
  • How to get your FICO Score for free

What is a true FICO Score?

FICO stands for the Fair Isaac Corporation, which began in 1956 and brought analytic solutions and technologies to the U.S. and around the world. These solutions help to make predictions on consumers' behaviors, provide accurate credit scores and assist businesses with complex management and decisions.

FICO Score is calculated with software from the Fair Isaac Corporation and is used in the majority of lending decisions. Lenders consider this score to help them make quick, accurate and reliable decisions regarding credit risk.

A true FICO score ranges between 300–850 and gets calculated using only information in a consumer's credit report maintained by the three main credit bureaus— Experian™, Equifax® and TransUnion®. To receive a FICO Score, you must have a credit account at least 6 months old and activity during the past 6 months.

FICO breaks its scoring criteria down into 5 categories:

  • Payment history: 35%
  • Amounts owed: 30%
  • Length of credit history: 15%
  • Credit mix: 10%
  • New credit: 10%

Keep in mind that while there are many different models used to generate a credit score, they are all true/accurate. According to Experian, these models include:

  • Experian/Fair Isaac Risk Model v2 (FICO® Score 2)
  • Equifax Beacon 5.0 (FICO® Score 5)
  • TransUnion FICO® Risk Score 04 (FICO® Score 4)

Some of these scores are used specifically for mortgages, and others (like the FICO Auto Score®) are used to take out a loan for a car. They all are similar in how they are calculated, but each varies depending on what the score is being used for.

3 steps to take to find your true FICO Score

There's a few different ways you can get your FICO Score. Let's explore the process of getting your FICO Score below.

Step 1 – Check with your bank or credit union

The first step you can take towards finding your FICO Score is by checking with your bank or credit union. Hundreds of banks and credit unions partner with FICO through its Open Access Program. If your bank or credit union partners with FICO, log in to your account online. You will likely be provided with a free FICO Score.

Step 2 – Contact your credit card issuer

If your bank doesn't partner with FICO, you'll want to take this next step—check to see if your credit card issuer provides you with a FICO Score. Many issuers partner with FICO, but depending on the issuer, you might be given either a FICO Score or VantageScore 3.0® (or perhaps both). Make sure to check with your issuer's terms and conditions to see if you're given either score for free.

Step 3 – Take out loans

If you're already considering taking out an auto loan or mortgage, it's possible that you'll be able to get your true FICO score through this process. Many dealerships or mortgage companies use the FICO Score to help determine the kind of loan you may be able to receive.

Keep in mind that you can potentially hurt your credit score when the issuer runs a credit inquiry. A credit inquiry can be either hard or soft—a hard inquiry is generally requested by a third party, such as a lending institution or credit card issuer. It pulls your credit report from one of the three credit bureaus. You should expect a hard inquiry if you apply for a home loan or credit card. This kind of inquiry could impact your score by up to 5 points.

A soft inquiry, on the other hand, happens when you request your own credit report, or if a credit card company wants to review your credit for eligibility for a new line of credit. This type of inquiry won't affect your credit score.

If you're worried that taking out a loan could hurt your credit score, use Chase Credit Journey's Credit Insider to help educate and guide you through the process.

How to get a free FICO Score

While the above steps can be helpful for finding your FICO score, it's possible that there's could be a cost associated with receiving it—whether that's a financial cost/fee or a cost to your credit score due to a credit inquiry. You may be able to get a free credit score through one of the financial bureaus or some third-party mobile apps. However, scores may differ depending on the model used to calculate your score, so don't be surprised to find different scores.

Your FICO Score is important, but it's not the only score that's used widely by banks, lenders and credit card issuers. When you enroll in Chase Credit Journey®, you can get access to your free VantageScore 3.0 and credit report. This is an easy, fast and accurate way of checking your credit score without hurting it.

Checking your credit score is important

Whether it's your VantageScore or FICO score, monitoring your credit score is extremely important to your financial health. It can help improve your credit by seeing which factors are hurting or boosting it, and you can find and correct errors by monitoring your score.

If you want to get a free VantageScore 3.0 and be able to check this score regularly without impacting your score, enroll in Credit Journey®. This free online tool provides you with information that helps you understand credit, what your score means and allows you to access helpful tools continue on your financial journey.

How to Find Your True FICO Score | Chase (2024)

FAQs

How to Find Your True FICO Score | Chase? ›

When you enroll in Chase Credit Journey®, you can get access to your free VantageScore 3.0 and credit report. This is an easy, fast and accurate way of checking your credit score without hurting it.

How do I find my accurate FICO score? ›

Check your credit card, financial institution or loan statement. Many credit card companies, banks and loan companies have started providing credit scores for their customers. It may be on your statement, or you can access it online by logging into your account.

Can I check my FICO score for free? ›

The first place you should check for your free FICO Score is with your credit card issuer. Many card issuers provide their cardholders with free access to their credit score. While there's a good chance you'll have access to your credit score, the key is whether it's your FICO Score or VantageScore.

Is FICO score the real score? ›

Your FICO® scores are just one type of credit score that lenders or creditors may use when determining whether they'll provide you a loan or credit card. While FICO® scores are commonly used by lenders to assess your credit risk, other credit scores can also give you a good idea of where you stand.

Is Experian Fico score accurate? ›

Credit scores from the three main bureaus (Experian, Equifax, and TransUnion) are considered accurate. The accuracy of the scores depends on the accuracy of the information provided to them by lenders and creditors.

Which FICO Score is most accurate? ›

The primary credit scoring models are FICO® and VantageScore®, and both are equally accurate. Although both are accurate, most lenders are looking at your FICO score when you apply for a loan.

What number is a perfect FICO Score? ›

Those with exceptional credit, FICO® Scores of 800 and above, will likely receive the same terms as someone with a perfect score of 850—all else remaining equal. Even those with FICO® Scores slightly below 800 may receive the same terms as those who have reached the top of the credit score scale.

Why is my FICO score higher than my credit score? ›

Why is my FICO score higher than my other credit scores? Every credit-scoring model is different. And credit scores can change based on what credit report is used to inform the model. Those variances can make some scores higher or lower than others.

Does Credit Karma show FICO Score? ›

Credit Karma provides VantageScore® 3.0 credit scores from TransUnion and Equifax, while some credit card issuers or banks may offer access to your FICO® scores from specific bureaus. So be sure to check which scoring model is being used and which credit reports your scores are based on.

Is TransUnion a FICO Score? ›

There are many different credit scoring models. Two popular credit scoring models you may have come across are from the companies FICO and VantageScore. The score you see provided by TransUnion is based on the VantageScore® 3.0 model. FICO and VantageScore credit scores range from 300 – 850.

What is the riskiest FICO score? ›

Borrower risk profiles
  • Deep subprime (credit scores below 580)
  • Subprime (credit scores of 580-619)
  • Near-prime (credit scores of 620-659)
  • Prime (credit scores of 660-719)
  • Super-prime (credit scores of 720 or above)

Can you trust FICO credit score? ›

You can be confident you're seeing a score many lenders actually use. Because FICO Scores are the most widely used scores, it is very likely the lender will check your FICO Scores when you apply for credit.

Why is myFICO score 100 points lower than Credit Karma? ›

Credit Karma vs.

The answer is easy. Credit Karma uses a different scoring system than the one mortgage lenders use. There are two main scoring systems: FICO – it was created in the 1950s and is used by mortgage lenders.

Which FICO Score do lenders use? ›

While the FICO® 8 model is the most widely used scoring model for general lending decisions, banks use the following FICO scores when you apply for a mortgage: FICO® Score 2 (Experian) FICO® Score 5 (Equifax) FICO® Score 4 (TransUnion)

How do I find myFICO score? ›

How to check your FICO Score in 5 different ways
  1. Utilize your bank or credit union. ...
  2. Seek guidance from credit and financial counselors. ...
  3. Review your credit card statements. ...
  4. Obtain a FICO Score from credit bureaus. ...
  5. Access your FICO Score from loan information.
May 8, 2024

Do banks use FICO or Vantage? ›

There are several versions of VantageScore and FICO, and each uses a different scoring model. For example, a lender will likely use an older version of FICO for a mortgage application, while a consumer site might rely on the latest version of VantageScore.

How accurate is Credit Karma to your FICO Score? ›

Credit Karma compiles its own accurate VantageScore based on that information. Your Credit Karma score should be the same or close to your FICO Score, which is what any prospective lender will probably check.

Is my bank FICO Score accurate? ›

Yes, you can trust credit scores reported by your financial institution. They will accurately reflect your credit history as it appears on the credit report upon which the score is based.

Which is your real credit score, TransUnion or Equifax? ›

Neither your TransUnion or Equifax score is more or less accurate than the other. They're just calculated from slightly differing sources. Your Equifax credit score is likely lower due to reporting differences. Nonetheless, a “fair” score from TransUnion is typically “fair” across the board.

What if myFICO score is wrong? ›

To correct errors on your credit report, you need to contact the credit bureau that is showing erroneous information. Your FICO® Score uses the information on your credit reports to calculate your FICO Score, so inaccurate or incorrect information on your credit report can hurt your score.

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