Does a Free Online FICO Score Really Exist?

Reader Question: "I am trying to request my credit score online, and I have seen dozens of websites that offer free FICO scores if I sign up for something. But then I have to pay for some kind of monitoring service. Is there a such thing as a free online FICO score, and if so where can I find it?"

You are not alone in your confusion. We receive an email like yours about once a week. I have yet to see a website online that offers FICO credit scores for free, with no purchase required. Still, it's something you need to know before purchasing a home, so it's usually worth the price.

Like you, I've seen plenty of sites that will give you free scores if you sign up for a monthly service of some kind (such as identity theft protection). This is the most common offer you will find online. And while you do actually get your FICO score for free, you'll end up paying for something.

Here's what it all boils down to:

• Credit reports and scores are two different things, though many people think they are the same. You should review both of them before applying for a mortgage loan.
  
• By law, you can get your reports for free, once every year. And you can do this online by visiting AnnualCreditReport.com. This is the only site recommended by the FTC.
• In addition to your reports, it's also important to check your FICO credit score before shopping for a mortgage loan. This is a key item in the approval process, so you'll want to know how you measure up.
• Regardless of where you get your FICO score online, you'll have to pay for it in some way. You can get it for free by signing up for a credit-monitoring service, or you can buy your scores individually through any of the reporting bureaus (Experian, Equifax or TransUnion).
• So in reality, you cannot get your FICO credit score online for free -- you will have to pay for something along the way. With that being said, you definitely need to know where you stand in this department, so it's a worthwhile investment to make.

What if Your FICO Score is Low?

So let's say you take advantage of one of the free online FICO score offers, and you find out that your score is lower than needed to buy a house. What can you do about it? Well, you'll find dozens of lessons on this blog to help you improve your situation. Here's one in particular I recommend reading:

How to Raise Your Credit Score Fast in 2009?

Now you know the truth about the free online offers you've encountered. Remember, you can get your reports at no cost by using the website mentioned in the bullet points above. But you will have to pay for your FICO score in some way, shape or form. It's an important piece of the mortgage-approval process though, so you should definitely make the investment at least once before applying for a home loan.

I hope this answers your question, and I wish you well in your financial endeavors. If you have other questions about this topic, try typing the keywords into the Google search box at the top of the blog. There are more 150 credit score lessons on this site, so you're bound to find the answers you seek.

This question pertains to free online credit scores and the products that are often associated with them. This article was written for educational purposes only. We make no claims or assertions about FICO scores or the companies that produce them. Nor do we work for any of these companies. In other words, this is an objective lesson on the subject at hand -- and not a sales pitch.