BofA Offers Free Credit Score Online

BOFAFicoBank of America is now offering its customers free access to their credit scores within the bank’s website, according to an email sent to customers today. The functionality is provided by the credit bureau TransUnion.

Customers can now enroll to receive monthly updated Fico scores through email, by logging in their online banking accounts and clicking the “View Your Fico Score” tab. Once enrolled, customers can also see how their scores measure against the national averages.

Within the same tab, BofA also features educational material, including “Do’s and Don’ts” of credit habits, as well as tips on keeping financial information safe. The educational material is a part of the bank’s Better Money Habits initiative — a collaboration between Bank of America and Khan Academy launched in April 2013, to provide free resources to bank customers and non-customers for developing better money habits.

The credit score feature is only available through BofA’s website, but that will soon change. “This summer, you’ll be able to view your Fico score almost anywhere, anytime for free from the Bank of America mobile banking app,” the bank said today.

Capital One has been featuring free credit scores on its mobile app since March 2014. The features there include a selection of alerting functionality to receive notification of credit events, a credit simulator to look at how one’s credit score could change based on a change in behavior, and a selection of educational features to teach customers about credit.

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