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What are the pricing options for MyFico?

Matt Avatar By: Matt | Last updated February 13, 2019

man drinking coffee in front of the laptop checking credit scores credit monitoring

Having a good credit score is essential this day and age. Whether you want to get a loan, obtain lower interest rates and so on, roughly every financial aspect of your life depends on you having a high credit score.

But in order to make sure it stays up, you have to monitor your credit on a regular basis, to make sure no errors sneak in your reports, you haven’t fallen victim of a financial fraud and everything looks good on them.

The advantages of credit monitoring services

Credit monitoring services have several benefits. They monitor your credit reports on a regular basis, to make sure all the information on them is accurate, there are no suspicious changes or errors on them, which could affect your score. While you can apply a DIY approach as well when it comes to monitoring your credit, these services take the load off of you and save you a lot of time and headache.

Technology has its pros and cons: on one hand, it’s made it possible for you to be able to perform almost any type of financial transaction online, and keep track of your finances via the internet. You can pay bills, buy, sell almost anything online, which is indeed very convenient. On the other hand though, that also means you are more exposed to threats of all kind, from having your account hacked to ID theft and more.

Another great benefit of credit monitoring services is the fact that you can receive alerts in case someone uses your credit cards, for instance, opens a credit card in your name, gets a loan in your name or if there are any changes to your credit reports.

Read more about credit monitoring services and what to look for in one.

What does MYFICO do?

MyFICO is a credit monitoring service launched by FICO. You’ve all heard about FICO, they are the ones who came up with the most popular credit score model, the FICO score, which is used by all 3 major credit bureaus and is the reference for more than 90% of all creditors.

The credit monitoring service offered by MyFICO is provided on a daily basis and it can target all 3 credit bureaus, depending on the package you choose. You’ll receive alerts (via e-mail or text) in case of any changes to your credit reports. Some examples of changes are: new addresses, balance changes, new inquiries and more.

MyFICO pricing

MyFICO is a comprehensive service, but not the most affordable one.

There are 3 packages to choose from: FICO Basics 1B, FICO Ultimate 3B and FICO Ultimate 3B+.

Fico Basics 1B: it only monitors 1 bureau, sends you FICO score alerts and gives you a monthly credit report. Also, in case of ID theft, it offers 24/7 identity theft restoration. This package costs $19.95/month. Your subscription is renewed every month, unless you cancel it. However, if you do decide to cancel it, you should know that you won’t get any refunds.

Fico Ultimate 3B:with this product, you get 3-bureau monitoring and credit reports updates every 3 months. The Ultimate 3B also includes ID theft monitoring, alerts and dark web surveillance and up to $1 million ID theft insurance. The Fico Ultimate 3B is billed at $29.95/month.

Fico Ultimate 3B+: This is the most expensive product they have and it will cost you $39.95/month. In this price you get 3-bureay credit monitoring and updates on your credit reports, but this time the updates are monthly. Other than the frequency of updates, the 3B+ includes the same benefits as the Fico Ultimate 3B package.

MyFICO offers other types of services as well. You can also pay for one-time reports that are viewable for up to 30 days from the activation date.

MyFICO offers 2 products in that sense: the Fico Score 3B report, which is $59.85 and the Fico Score 1B report, which is $19.95.

The Fico Score 3B report includes a one-time 3-bureau credit report and access to their FICO Score Simulator, which simulates up to 24 scenarios, such as: taking out a mortgage, getting a credit limit increase and others.

The Fico Score 1B report includes a one-time 1-bureau credit report (also viewable for 30 days from activation).

Read our MyFico review.