We have created this website because we believe that you have the right to access your credit score for free. Even though federal law entitles you to a free credit report every year, it does not entitle you to a free credit score.
We feel you have the right to a free credit score not only because the score is based on your personal information, but because lenders base most of their decision on your credit score. In addition, your credit score affects the interest rate you get on your mortgage or loan.
Your credit score has an enormous amount of influence on your financial future and you should have the right to see it for free at least once every year. In addition, sudden changes in your credit score could alert you to potential problems with your credit report.
Are we putting the credit score companies out of business?
No. Credit score companies, like Fair Isaac of FICO, make most of their money charging banks and other lenders for your credit score before giving you a loan or mortgage. Even if you tell a lender your credit score, they will still have to purchase a copy of your credit score to ensure what you told them is accurate.
Credit scores were developed to make the process of lending money easier, because it requires less training for the person giving you the loan and makes the process more consistent. Credit scores can help reduce the risk of lending money. The FICO score, for example, has had a long proven track record of working for lenders. If you are more risky borrower, they charge you more interest to compensate for that risk.
What are we doing?
We would like to petition congress to grant all consumers the right to see their credit score at least once every year. If lenders are basing their decisions of your credit worthiness, setting your interest rate based on that number, you have the right to know the credit score that determined these financial decisions. For the security of your financial credit and for the security of your identity, it should be something that is accessible all the time.
How you can help?
We would encourage you to write your senators and your representatives directly about your concerns and desire to access your credit score for free. Many personalized letters from their constituents will make them look at the subject more seriously.
You can find the contact information for your senators at senate.gov and your Representative at house.gov. You should be able to contact them via email (or a web submission) or regular ground mail.
We are also collecting signatures online for a formal petition. We want to show congress that there is a significant number of people who want to introduce free credit scores. Please sign the petition to show your support.