FICO FAQs

Do you provide free access to FICO® Scores?
Yes! Stanford FCU provides this as a free benefit to our members.
What do I do if my FICO banner is not appearing on my Stanford FCU Online Banking account?
Call us at 888.723.7328 or send us a secure message in Online Banking for assistance.
What are FICO® Scores?
A FICO® Score is a three digit number that summarize the positive and negative information on your credit report. FICO® Scores are based on a snapshot of your credit file at particular consumer reporting agencies at a particular point in time, and help lenders evaluate your credit risk. FICO® Scores influence the credit that’s available to you and the terms, such as interest rate, that lenders offer you.
How are FICO® Scores calculated?
FICO® Scores are calculated from many different pieces of credit data in your credit report. This data is grouped into five categories as outlined below. The percentages in the chart reflect how important each of the categories is in determining how FICO® Scores are calculated.

How FICO scores are calculated
Where did Stanford FCU get my FICO® Score from?
Stanford FCU partners with FICO and Experian, one of the major credit reporting agencies, to be able to provide you with your FICO® Score.
How often will I receive my FICO® Score?
Stanford FCU members will receive their updated FICO® Score 2 based on Experian data on a quarterly basis, when available.
Will receiving my FICO® Score impact my credit?
No. The FICO® Score 2 based on Experian data we provide to you will not impact your credit.
Why is my FICO® Score not available?
Reasons why you may not see your credit score include:

  • You opted out
  • You are not the primary account holder on the account
  • You have key information that is mismatched or missing, as one example, an address change that has not been updated with Stanford FCU or Experian
  • Your credit history is too new
  • Your account status is abandoned, bankrupt, fraud, lost or stolen, closed, revoked, or charged off
  • You have a foreign address
  • You have no account activity such as no purchase transactions, fees, interest, or payments for approximately 30 – 45 days. This may occur, for example, if your account is new.
Where does the information used to calculate my FICO® Score come from?
A FICO® Score is based on the credit information in a credit file with a particular consumer reporting agency (CRA) at the time the score is calculated. The information in your credit files is supplied by lenders, collection agencies and court records. Not all lenders report to all three major CRAs. The FICO® Score 2 that we provide to you is based on data from your Experian report as of the ‘pulled on date’ shown with your score.
What are Key Score Factors?
When a lender receives a FICO® Score, “key score factors” are also delivered, which explain the top factors from the information in the credit report that affected the score. The order in which FICO® Score factors are listed is important. The first indicates the area that most affected that particular FICO® Score and the second is the next significant area. Knowing these score factors can help you better understand your financial health over time. However, if you already have a high FICO® Score (usually in the mid-700s or higher), score factors are informative but, not as significant since they represent very marginal areas where your score was affected.
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 particular consumer reporting agency, so differences in your credit files may create differences in your FICO® Scores. The FICO® Score 2 based on Experian data that is being made available to you through this program is the specific score that we use to manage your account. When reviewing a score, take note of the score date, consumer reporting agency credit file source, score type, and range for that particular score.
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 particular consumer reporting agency (CRA) 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.
Why are you providing FICO® Scores?
Reviewing your FICO® Scores can help you learn how lenders view your credit risk and allow you to better understand your financial health. Stanford FCU provides your scores based on information from your Experian credit report so you can stay on top of your credit and avoid surprises.
Who uses FICO® Scores?
Anyone making a credit decision about you could look at your FICO® Scores. Whether it’s for a home loan, car loan or credit card decision, FICO® Scores are among the most commonly used pieces of information that lenders consider.
Are you sharing this information?
No. Stanford FCU is not sharing your FICO® Score with anyone but you.
How do I check my credit report?
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. It is a good practice to review your credit report from the three national credit bureaus; TransUnion, Equifax and Experian at least once a year and especially before making a large purchase, such as a house or car.
Federal law allows you to get a free credit report annually from these three national credit bureaus and has set up a central website, a toll-free telephone number, and a mailing address through which you can order your free annual credit report(s):

www.annualcreditreport.com

1-877-322-8228

Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281

Please note that your free credit report will not include your FICO® Score.

How do I opt in?
Click on the FICO® Score banner that appears on your Stanford FCU Online Banking Home page (in the right hand column) If you do not see the widget call us at 888.723.7328.
Can I opt out?
Yes. If you’d like us to stop providing your FICO® Score, contact us at 650.723.2509.
I don't agree with my FICO® Score or Key Factors.
Your FICO® Score is based on information in your Experian credit report so it’s important to make sure that report is accurate. Remember, your FICO® Score reflects a general snapshot of your credit history at a specific point in time and can be influenced by Payment History, Amount Owed, Length of Credit History, New Credit Opened and Types of Credit. It can fluctuate month over month; however, if you believe there is an error, you can:

  1. Request your free annual Experian credit report at www.annualcreditreport.com
  2. After reviewing your report, if you find inaccurate information that may have affected your score, you can dispute your Experian credit report at www.experian.com.
My FICO Score is incorrect, what should I do?
Stanford FCU uses Experian’s FICO Risk Model V2 for our members’ credit scores. Keep in mind that there are many different credit scores available to consumers and lenders. Different lenders (such as auto lenders and credit card lenders) may use different versions of FICO® Scores. Also, credit scores are calculated every time the scores are requested, so it can fluctuate/change easily.
How do I improve my understanding of FICO® Scores?
Your FICO® Score considers both positive and negative information in your credit report. Good credit habits like always paying bills on time, managing your credit by keeping balances low and only opening new credit cards when you need them can all have a positive effect on your financial health, and in turn, your FICO® Score.
Why is my FICO® Score important to me?
Nearly all lenders in the U.S, including Stanford FCU, use a FICO® Score among other information when they make their credit decisions. And they have for over 20 years. Stanford FCU provides your FICO® Score based on Experian data so you can stay on top of your credit and avoid surprises.
Who or what is FICO?
Founded in 1956, Fair Isaac Corporation (FICO) uses advanced math and analytics to help businesses make smarter decisions. One of FICO’s inventions is FICO® Scores, which are the most widely used credit scores in lending decisions. It is important to note that while FICO works with the consumer reporting agencies (CRAs) to provide your FICO® Scores, it does not have access to or store any of your personal data or determine the accuracy of the information in your credit file.

FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries.
Stanford FCU and Fair Isaac are not credit repair organizations as defined under federal or state law, including the Credit Repair Organizations Act. Stanford FCU and Fair Isaac do not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history or credit rating