Free Scores Help Cardmembers Manage their Finances to Achieve Goals
RIVERWOODS, Ill.--(BUSINESS WIRE)--Nov. 18, 2013--
Discover today announced it is providing free FICO® Scores on
the monthly statements of Discover it cardmembers to help them stay on
top of their credit and gain insight into key credit information that
may influence how lenders, auto dealers, retail stores and others
evaluate them. Discover is the first major credit card issuer to provide
free FICO® Scores directly to its cardmembers on their
monthly statements.
“By providing cardmembers with their free FICO® Score on their monthly
statements, we’re helping them manage their finances so they can achieve
their personal goals,” said Julie Loeger, senior vice president of brand
and acquisition at Discover. “A good credit history and FICO® Score can
be a deciding factor in a person’s ability to get a loan or receive a
good rate that will enable them to buy anything from everyday purchases
to a new home. We think Discover customers deserve to have ready access
to this information and should not have to go through hurdles to get it.”
Credit scores, which indicate the relative likelihood that a consumer
will repay a debt as agreed, are one of the most important factors that
lenders take into consideration when consumers apply for a loan to buy a
house, lease a car or open a credit card. In addition to their credit
scores, Discover it cardmembers will see the FICO® Score Meter,
indicating the relative strength of their scores, as well as educational
content to help them better understand them. While credit scores can
serve as a key indicator in understanding one’s financial health, a
recent independent survey commissioned by Discover found that nearly 40
percent of Americans didn’t check their credit score in the past year.
“The FICO® Score is one of the most commonly used credit evaluation
measures, providing consumers with critical information that many
lenders use to make credit decisions,” said James Wehmann, executive
vice president of Scores at FICO. “We applaud Discover for participating
in the FICO Score Open Access program and continuing to be a leader in
consumer financial education and empowerment.”
Qualifying Discover it cardmembers automatically will begin receiving
free FICO® Scores based on data from TransUnion, a world
leader in consumer credit information, on their monthly statements, made
available through the mail or on the secure Account Center on
Discover.com. Free FICO® Scores are currently available to Discover it
cardmembers, with plans to roll out to other Discover cardmembers in the
coming months.
Providing a free FICO® Score is one of the many ways Discover
helps consumers stay on top of their finances, avoid surprises and reach
their financial goals. The company offers cardmembers free email and
mobile alerts to help manage their accounts and get account activity
updates. It also offers the Spend Analyzer, a free financial management
tool that helps cardmembers track their spending, as well as Paydown and
Purchase Planners that empower them to make smart financial decisions.
To learn more about free FICO® Scores offered by Discover on
monthly statements, please visit www.discover.com/FICO.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and payment
services company with one of the most recognized brands in U.S.
financial services. Since its inception in 1986, the company has become
one of the largest card issuers in the United States. The company issues
the Discover card, America’s cash rewards pioneer, and offers home
loans, private student loans, personal loans, home equity loans,
checking and savings accounts, certificates of deposit and money market
accounts through its direct banking business. It operates the Discover
Network, with millions of merchant and cash access locations; PULSE, one
of the nation’s leading ATM/debit networks; and Diners Club
International, a global payments network with acceptance in more than
185 countries and territories. For more information, visit www.discoverfinancial.com.
Source: Discover Financial Services
Discover
Laura Gingiss
224-405-0185
lauragingiss@discover.com