In an effort that was announced March 2, 2011, all active duty service members and their spouses can now access their FICO scores for FREE. The Free FICO score, offered by the nonprofit FINRA Investor Education Foundation, is intended to help military members and families improve their financial-readiness, save money and steer clear of predatory lenders, such as auto-title and payday loans that have targeted many military bases.
In addition to the FICO credit scores being offered for free, all military members will also have access to educational information and tools such as a credit score simulator that analyzes the effect of specific behaviors, such as the impact of paying off a credit card, opening a new account, reaching credit card limits, obtaining a car loan or missing a payment.
This offer is open to all branches of active-duty military. To obtain their free credit score, military members and spouses can contact the personal financial manager on their base. For details: www.saveandinvest.org/military.