Consumer Finance

Discover Launches FICO Credit Scorecard

Discover has launched a new online functionality called Credit Scorecard to keep its users up to date on their latest FICO credit score.

The launch of the service, in partnership with Experian, makes the credit card issuer the first company to offer free credit score reporting to its users. The new offering will also extend a host of details to provide insights into factors influencing the credit score, Discover announced in a statement.

“Credit scores play an important role in many of life’s big moments, like buying a home or a car, taking out a student loan, even renting an apartment,” said Roger Hochschild, Discover’s president and chief operating officer.

“At Discover, we think it’s important that consumers have the information they need to manage their credit. With Credit Scorecard, this information is readily available to everyone, Discover customers and non-customers alike, in a way that’s both easy to use and to understand,” he added.

The Credit Scorecard is an extension of Discover’s previous offering, which, in 2013, made it the first major credit card issuer to provide free FICO scores to its cardholders on their monthly statements and online.

“Now, we’re extending this benefit to everyone. With Credit Scorecard, all consumers can check their FICO Score for free and use the information to help them stay on top of their credit,” said Julie Loeger, Discover’s executive vice president and chief marketing officer.

The service is now being offered in a neat dashboard, which is accessible through an online account, that extends information on numerous factors affecting the credit score, including number of missed payments, number of accounts, recent inquiries, revolving credit usage and length of credit history, among others.


New PYMNTS Study: Subscription Commerce Conversion Index – July 2020 

Staying home 24/7 has consumers turning to subscription services for both entertainment and their day-to-day needs. While that’s a great opportunity for providers, it also presents a challenge — 27.4 million consumers are looking to cancel their subscriptions because of friction and cost concerns. In the latest Subscription Commerce Conversion Index, PYMNTS reveals the five key features that can help companies keep subscribers loyal despite today’s challenging economic times.

Click to comment