Getting a Discover Card for the free FICO score each month

[jeffrey]

Has anyone here ended up getting a Discover credit card to take advantage of the free FICO score they give with the statement each month?

[ua_guy]

I could see how it might be useful for some, but FICO isn't something I track on a granular level. Carrying a Discover card is mostly lost on me when I have good services through Visa/MC.

[Like2Plan]

I thought about it for a second, but I don't want to get another CC.... I'm wondering if the other CC companies will follow suit?

[kyoko]

I have a Discover card for about a few months, and I noticed recently about FICO score but didn't really pay much attention. Because I didn't pay attention, I recently opened up Credit Karma. Looks like both use TransUnion.
But both scores are quite different (more than 20 points!). Could that be possible????

[disneysteve]

But both scores are quite different (more than 20 points!). Could that be possible????

Sure. You're credit score is a moving target. It changes regularly so it could depend on when each place pulled the report.

[humandraydel]

I may be wrong, but I think Credit Karma doesn't provide the "real" FICO score.

I am very tempted to open a Discover although not JUST because of the credit score. It'd be a nice bonus though.

[creditcardfree]

Before you open a Discover card, look for their current bonus offer of $150 in rewards for spending $750 on the card in 3 months. This offer does not include 0% interest however, so pay your bill in full!

[btctony]

I may be wrong, but I think Credit Karma doesn't provide the "real" FICO score.

I am very tempted to open a Discover although not JUST because of the credit score. It'd be a nice bonus though.

You are correct, Credit Karma doesn't provide a real TU FICO score. But even if they did, there are a total of 49 different FICO scoring models. Most creditors use FICO, but who knows which model is being used unless you specifically ask the individual creditor. Auto lenders use an auto enhanced scoring model, credit card companies use a credit card enhanced model. I believe most mortgage lenders are using the FICO 04 model. The only FICO 04 model that is currently available for purchase by the consumer is the Equifax score from MyFICO.

Basically, the only real FICO scores you can purchase are from MyFICO. Everything else is outside of those 49 different FICO scoring models.

My guess on what Discover is giving is a credit card enhanced model of a real FICO TU score.

[breathemusic]

Discover used to be my main card and I've had it since early college. I've since started using a visa more because I think the cash-back structure on my other card is a little better. I've seen a ton of those commercials about them providing FICO scores but I never really bothered to look before since I do all my bill reviewing online which didn't require me to look at the actual PDF statement (and I wasn't clicking the "LOOK AT YOUR FICO SCORE" button on their page).

I just looked now out of curiosity and mine's 807! WOO! haha. Of course I'm sure it's not exactly the same as whatever a lender would use, so I'm not all that worried about it.

Their site says that they're actually pulling the score from TransUnion, in case anyone wants to know for sure.

[kyoko]

Before you open a Discover card, look for their current bonus offer of $150 in rewards for spending $750 on the card in 3 months. This offer does not include 0% interest however, so pay your bill in full!

They do have a good point system. I also have a Citicard but their points are very hard to redeem... Not because it is complicated, but just because it is not a cash back, and I have to buy something to get a little discount as a redemption. They don't offer anything appealing so I have over 5000 points I had accumulated over many years of using this card. I wish it were a cash back!

Discover also has an alliance with amazon.com that we can redeem points by buying something through amazon. It looks like it doesn't work with Kindle, though... Just physical books. I think it is still a good deal.

[disneysteve]

I just checked. My FICO isn't showing because I haven't used the card recently. My wife did use hers this month and her FICO is 844. I'll have to let her know she isn't perfect.

[kork13]

I've had a Discover More card for years (since college), so when they came out with the Discover It cards (offering the free FICO score), I thought "cool!" and just called them to have them switch me over to the It card. I got my score on the last statement (820?!? wow... higher than I expected), so I must say I'm a fan...

Now, if I wasn't already a Discover cardholder & not interested in their credit cards, I wouldn't bother with signing up for a card just for a free FICO score... Not worth the hassle of using the card each month if you don't actually want to use it.

[figuringmoneyout]

I like the Discover It card but I didn't get it for the FICO score. I've used Discover for years and like their system and FICO isn't something I track or care much about since I have a great credit score. I'm sure it would be useful for some people. Now they are also giving a $150 bonus which is a nice bonus. I wrote a review of it here. I'll probably need to update since they are offering a bonus but I got mine before that option came around.

[SavingSteve]

I've had a Discover card for a while but I don't think I would open one just for the credit score. The two main benefits with Discover are the quarterly 5% cash back offers and no international currency conversion fee.

[snafu]

Unless you're a Discover card user, what's the point if you're a saver? I'd understand the value if you're about to make a major purchase like home or vehicle where your high FICO score gives you some bit of negotiating space for interest rate.