FICO® is an acronym for the Fair Isaac Corporation, the pioneer in developing the method used to calculate credit scores based on information collected by credit agencies.
Your FICO® score is used to evaluate consumers credit risk based on their credit portfolio scores. FICO® scores are used in over 90% of all lending decisions.
The Bank of America provides a free FICO® score from TransUnion to all customers on a monthly basis. Bank of America requires customers use their consumer credit card to qualify for the free monthly FICO® score report.
If you meet the eligibility requirements, your credit score can be viewed by using either:
Using Bank of America to regularly view your credit score status allows consumers to implement actions aimed at improving their credit scores. The benefits of using Bank of America include:
FICO® is used in over 90% of all lending decisions and Bank of America provides a monthly update thereof to all customers in possession of their consumer credit card. FICO® scores can be viewed at any time on their mobile app, or online banking platform.
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