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FICO® Scores Now Available for Checking Accountholders

FICO® Scores Now Available

We’ve expanded our FICO® Score services so that any member with an HVFCU checking account can now view their FICO® Score for free within Internet and Mobile Banking. In addition to the score itself, you’ll also be given the key factors that impact your score.

Viewing your FICO® Score is easy. Simply log in to Internet Banking or Mobile Banking and opt-in to receive your score:
  • Internet Banking – Log in and view your FICO® Score from the "My FICO® Score" tab
  • Mobile Banking -  Log in and view your FICO® Score from the "More" menu
Your FICO® Score will be updated quarterly. Various factors can impact your score on a daily basis, such as the timeliness of your loan payments. Your FICO® Score may also vary between different credit reporting agencies, and the FICO® Score you receive from us is provided by Experian. Viewing your FICO® Score will not impact or create an inquiry on your credit.

What is Your FICO® Score & How it's Calculated

Your FICO® Score summarizes your credit risk based on a snapshot of your credit. Lenders, like HVFCU, use your FICO® Score when reviewing your loan applications. Understanding how lenders view your credit risk allows you to better understand your financial health.

Your FICO® Score is calculated from many different pieces of credit data within your credit report. This data is grouped into five categories. The percentages in the chart below reflect how important each of the categories is in determining how a FICO® Score is calculated.
 
Chart Showing Ingredients of a FICO Score
  • 35% - Payment History
  • 30% - Outstanding Debt
  • 15% - Credit History Length
  • 10% - Pursuit of New Credit
  • 10% - Credit Mix
* Includes credit cards and home equities, but excludes mortgages.
FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries.

 

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