Discover Financial Services said Nov. 18 holders of its cards will begin seeing FICO scores on their card statements. A company executive described the move as a way of helping customers better manage their finances.
Providing card members with their credit scores on their monthly Discover card statements will help them manage their finances so they can achieve their personal goals, explained Julie Loeger, senior vice president of brand and acquisition.
A good credit history and credit score can be a deciding factor in a person’s ability to get a loan or receive a good rate that will enable them to buy anything from everyday purchases to a new home, she added.
In addition to their credit scores, Discover card holders will see the FICO Score Meter, indicating the relative strength of their scores, as well as educational content to help them better understand them, the brand said.
“While credit scores can serve as a key indicator in understanding one’s financial health, a recent independent survey commissioned by Discover found that nearly 40% of Americans didn’t check their credit score in the past year,” Discover said in its announcement.