Is Discover Credit Score Accurate?

Discover Credit Score

Discover Bank offers a credit scoreboard where you can check FICO Credit Score and other credit information for free. Discover credit scoreboard provides credit information based on data from Experian therefore the credit score from Discover might vary from credit scores of other credit bureaus.

The discover credit score is accurate for FICO credit score because Discover uses FICO 8 and TransUnion to calculate the FICO credit score. Therefore, Discover credit score is 100% accurate for FICO 8 score which is generated by the same TransUnion report.

What Is Discover Credit Scorecard?

Discover is a very popular and one of the major credit card issuers that allow people to check their FICO credit score for free. You can check the credit score from the company’s website and you don’t have to be a Discover cardholder to check the score. With Discover, you can check your total accounts, credit history length, number of hard inquiries, your credit limit, number of missed payments, and many more. Discover also alerts a user for three different activities that might affect their credit score. They are: 

1. Social Security Number Alerts

2. New Account Alerts

3. New Credit Inquiry Alerts      

How To Use Discover Credit Scoreboard

The best part of Discover’s credit score is you don’t require a credit card to access it. To sign up is Discover you will need below information:

1. Your name

2. Mailing address

3. Email address

4. Social Security number  

You will need to create a free account at CreditScorecard.com to access your free FICO score from Discover. You will have to provide a username and password to open the account. Moreover, you have to answer 4 questions to confirm your identity and then select a security question to complete the process.

Why Discover Credit Scorecard

Discover credit scoreboard provides free FICO credit score from Experian. Experian is one of the three major consumer credit bureaus. FICO credit score is very important because most of the financial institutes and lenders use FICO credit score. There are many free credit score providers available like Credit Karma, Credit Sesame, etc. and they only provide a VantageScore credit score. VantageScore and FICO credit scores are not the same and FICO is the most important credit score therefore Discover credit scorecard is more significant. In the Discover credit scoreboard, your free credit score will update monthly. The Discover credit scorecard will be a good option if you –

1. Want to check your FICO score more frequently

2. Want to check the FICO score than the VantageScore

3. Want free credit monitoring and free SSN monitoring

FAQs About Discover Credit Score

1. Will Checking The FICO Credit Score With Discover Affect The Score?

No, checking the FICO credit score with Discover won’t affect your FICO score. In fact, you can check your FICO score as often you want. Though, the credit score usually updates once per month.

2. What Measures Does Discover Take To Protect The Privacy Of Users?

Discover is very strict about its privacy policy and security. Discover never shares the information of its users with any third-party apps or organizations. Discover takes every possible measure to protect the privacy of the users.

3. Will A Credit Freeze Prevent Updates To The Discover Credit Scorecard?

Yes, if there is a credit freeze on your credit file then it will prevent Discover to update your credit score. You can only see the credit score from the last update before the freeze. Once the freeze from your account is removed Discover will be able to update your credit score again.

3. How Is My FICO Score Calculated?

Your FICO credit score is calculated based on the below information:

1. Payment history: 35%
2. The amount you owe: 30%
3. Length of credit history: 15%
4. New credit opened: 10%
5. Types of credit you have: 10%

4. Why Did The Discover Score Change?

Discover credit scoreboard shows the FICO credit score based on the information in your TransUnion credit report. So if there are any changes on your credit report then your Discover score will also change.

5. Why Is My FICO Credit Score Different Than Other Credit Scores I’ve Seen?   

There are many reasons your FICO credit score might be different from other credit scores. Some common reasons are – 

1. Discover provides an FICO score of 8 while many lenders use several different kinds of FICO scoring models
2. Discover provides the FICO score based on the data from your TransUnion credit report so the score may vary if you are using data from Experian or Equifax credit report
3. The discover FICO score may vary from month to month so check the date carefully when you are viewing your score.

Last Updated on May 29, 2021 by Musa D

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