Get your FICO® Score for free, updated
quarterly, using the UFirst mobile app.
Enjoy another great feature to make it easier for our members to understand their credit standing. Just
another reason why, it's better here.
Steps to accessing your FICO® Score
Download the mobile UFirst Credit Union mobile app*
Go to the menu portion of the app located on the upper-left hand portion of the
Click the "Your FICO® Score" icon
What are FICO® Scores?
FICO® Scores are the most widely used credit
scores. Each FICO® Score is a three-digit number between 300 and 850, calculated based on the data on
your credit reports at the three major consumer reporting agencies— Experian, TransUnion and Equifax. Your
FICO® Scores predict how likely you are to pay back a credit obligation as agreed. Credit scores
matter when you seek a loan, as it will affect variables such as your interest rate and loan terms, helping
lenders quickly, consistently, and objectively evaluate potential borrowers’ credit risk.
Why does UFirst offer FICO® Scores?
Nearly all U.S. lenders, including UFirst Credit Union, use FICO® Scores, as the industry standard
for determining credit worthiness. Reviewing your FICO® Scores can help you learn how lenders view
your credit risk and allow you to better understand your financial health.
What goes into FICO® Scores?
FICO® Scores are calculated from the credit data in your credit report. This data is grouped into
five categories; the chart below shows the relative importance of each category.
- Payment history (35%)
Have you paid past credit accounts on time? These
accounts include credit cards, loans, and retail accounts.
- Amounts owned (30%)
How much debt do you have? This is based on the balance you
carry on your accounts as a whole.
- Length of credit history (15%)
How long have your accounts been open? An
extensive credit history will typically increase your score.
- New credit (10%)
How many accounts have you recently opened? This is the
frequency of credit inquiries and new account openings. When you open several accounts in a short period, this
generally translates to greater risk.
- Credit mix (10%)
What type of credit accounts do you have? This relates to your
mix of retail accounts, credit cards, finance accounts, mortgages, and installment loans. It is not necessary
to have one of each.
What is considered a good FICO® score?
A "good" score will depend on who the lender and institution are. Scores between 670 and 739 are
typically considered good. However, one auto lender may offer low-interest rates to those with FICO® Scores
above 680, whereas another may require a score of 730.
Why is my FICO® Score important?
Benefits of accessing your FICO® Score include:
- Ability to gain credit faster, as this score can speed up approvals
- When assessing your borrowing risk, this score tells the facts, removing lenders' personal opinions
- Older credit issues do not count as much as newer credit concerns
- When you have a higher score, you can save on loan terms
UFirst Credit Union strives to help you develop and maintain your financial
well-being, which is why we showcase your FICO® Score. When you are aware of your FICO® Score, you can
actively achieve your personal goals. Understanding where you fall on the credit score range will help you
plan in terms of your creditworthiness.
What’s required to obtain my FICO® Score?
For a score to be calculated, your credit file must contain:
- A minimum of one account that has been open for six months or more
- A minimum of one account that has been reported to the credit agency within the last six months
- No indications of someone being deceased on your credit file (this relates to incidences when you are
sharing an account with someone)
You may not have a FICO® Score available if:
- Are a new account holder
- Your credit history is too new
- You are not the primary account holder
What are score factors?
Score factors are delivered with a consumer’s FICO® Score, these are the top areas that affected
that consumer’s FICO® Scores. The order in which the score factors are listed is important. The first
factor indicates the area that most affected the score and the second factor is the next most significant
influence. Addressing these factors can benefit the score.
Why do lenders want to know my FICO® Score?
When a lender asks for your FICO® Score, they are gauging your credit risk. This score provides a quick and
consistent overview that assists their assessment. This score provides insight into how likely it is you'll
stick to your financial obligations based on what you have borrowed and paid back.
Do inquiries impact my FICO® Score?
Yes, but only hard inquiries, which are voluntary during the application for credit. These typically have less
of an impact on your score than amounts owed, late payments, and your overall credit history.
Will receiving my FICO® Score impact my credit?
No. UFirst Credit Union union offers your FICO® Score as
a free benefit, it will not impact your credit.
Why is my FICO® Score different than other scores I’ve seen?
There are many different credit scores available to consumers and lenders. FICO® Scores are the
credit scores used by most lenders, and different lenders may use different versions of
FICO® Scores. In addition, FICO® Scores are based on credit file data from a consumer
reporting agency, so differences in your credit files may create differences in your
Are there other variables that determine whether I get credit?
Your FICO® Score alone will not determine whether you get credit or not. Lenders will also consider your
employment history, credit history, and amount of debt you can likely handle based on your current income.
Why do FICO® Scores fluctuate/change?
There are many reasons why a score may change. FICO® Scores are calculated each time they are
requested, taking into consideration the information that is in your credit file from a consumer reporting
agency at that time. So, as the information in your credit file at that CRA changes, FICO® Scores can
also change. Review your key score factors, which explain what
factors from your credit report most affected a score. Comparing key
score factors from the two different time periods can help identify causes for a change in a
FICO® Score. Keep in mind that certain events such as
late payments or bankruptcy can lower FICO® Scores quickly.
Does negative information go away after a certain period of time?
Although there are differences based on the type of information recorded, here is how long you can expect
negative information to remain on your credit file:
Late payments – 7 years
Bankruptcies – 7 years for a
completed Chapter 13, 10 years for Chapters 7 and 11
Foreclosures – 7
Collections – Typically 7 years, depending on the age of the
Public records – 7 years in most cases, although unpaid tax liens can remain
on your file indefinitely
How do I check my credit report for free?
You may get a free copy of your credit report annually from each of the three major consumer reporting
agencies. Because your FICO® Score is based on the
information in your credit report, it is important to make sure that the credit report information is
accurate. Please note that your free credit report will not
include your FICO® Score.
To request a copy of your credit report, please visit: www.annualcreditreport.com
How often will I receive my FICO® Score?
Program participants will receive their FICO Score updated on a quarterly basis, when available.
Why is my FICO® Score not available?
• You are a new account holder and your FICO® Score is not yet available
Your credit history is too new
• You are not the primary account holder
To Maintain a Healthy Score, Keep the Following in Mind
- Start as soon as possible — developing your credit history and financial health takes time.
- If you have a moderate number of open accounts, you will be perceived as lower risk.
- Pay your bills on time — this is attractive to lenders.
- Delinquent payments and collections can have a significant impact on your scores, even if only late by a few
- When your credit issues occurred, matters. Older problems weigh less heavily than newer credit issues.
- Try to pay down your debt instead of moving it from one account to another.
- People who do not have any credit cards are actually viewed as riskier than those who have credit accounts
and manage them responsibly.
- If you are in need of financial assistance, partnering with UFirst Credit Union will not harm your credit.
Have more questions? Need financial advice?
Below are additional resources to better understand your FICO® Score.
What is a FICO® Score?
Asked Questions About FICO® Scores
Asked Questions About FICO® Scores (Spanish)
Managing Your FICO®
Understanding Your Credit
into FICO® Scores?
How lenders use FICO®
Additional FICO® Score Information
For general questions or to get started today, contact UFirst Credit Union!
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