Free Experian PLUS Score for American Express Cardholders
If you are an American Express cardholder, you can view your Experian credit score and credit report for free.
This isn’t the FICO credit score that’s widely used by lenders which you can purchase from myFICO.com. It’s in fact the PLUS Score developed by Experian. In February, Experian decided to end its 6-year relationship with FICO. As a result, you can no longer purchase FICO score through Experian and Experian credit report is not offered at myFICO.com either. Experian PLUS Score ranges from 330 to 830, different from FICO score and no many lenders use PLUS Score to evaluate borrowers’ creditworthiness.
Anyway, as long as it’s free, I am not going to complain too much whether the score itself actually means anything or not. So I went ahead and ordered my PLUS Score, which is at 802 on a scale of 330 to 830. I have used a few FAKO scores before, like the Credit Karma score and the VantageScore from TransUnion, this is the first time that my score went over the 800 mark after converting the scores to the 330 to 830 range. As you can imagine, I am pretty happy with the score, even thought isn’t not a FICO (my latest FICO is at 792 in January). The Experian credit report listed following as positive factors to my credit score:
- You have paid your bills on time and currently do not have any overdue accounts or derogatory information, such as a collection, charge-off, or bankruptcy, on your report.
- You have a good cushion of available credit between your current balance and your credit limits on all open trades. This has a positive affect on your credit score. This cushion shows lenders that you are unlikely to overextend yourself financially.
- The total balance on all your credit cards is relatively low compared to your total available credit limit. This has a positive impact on your credit score.
- Your average credit limit for your major credit cards, such as Discover, American Express, VISA, or MasterCard, is high. This tells lenders that you have enough financial experience, and they will be more likely to see you as a good credit risk.
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The credit score and report is available for 30 days with no charge. After 30 days, they will both expire with no action needed from you, as indicated in the FAQ:
How much does My Credit Score & Report cost?
My Credit Score & Report is a complimentary benefit offered exclusively to American Express Cardmembers. You pay absolutely nothing. Simply sign up to gain access to your Credit Score and Report.
How long will I be enrolled in My Credit Score & Report?
Your enrollment in My Credit Score & Report will last 30 days. After 30 days, you will no longer have access to your complimentary Credit Score and Report. If you wish to continue enjoying access to your Credit Score and Report, you may enroll in CreditSecure.
If you have an AMEX card and access you account online, you can use this link to get your free Experian PLUS Score.
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