Improve your credit score with Amex’s tool – Forbes Advisor


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If you want to improve your credit score but don’t know where to start, American Express offers a free tool that acts as a blueprint to help you reach your goal. Called To score goalsthe program allows users to enter the score they aspire to and then generates a personalized recommendation on how to achieve it.

What is scoring goals?

The Score Goals site complements the issuer’s site My credit guide, a free credit score and report site available to cardholders of all stripes, not just those with an American Express card. Score Goals credit scores, reports and recommendations are based on data from Transunion’s VantageScore 3.0 scoring model.

“We continue to innovate our products to provide more personalized ways to help consumers manage their financial goals. With the launch of Score Goals, we’re really excited to be able to offer more consumers a new way to manage and achieve their credit goals,” said Kunal Madhok, vice president and head of product and acquisitions, US Consumer Lending Cards, American Express in a statement to Forbes Advisor.

The ability to see your credit report and score is nothing new. The FreeAnnualCreditReport site offers anyone the ability to see their full credit report — but not their score — on a weekly basis until the end of 2022, and then again once a year. Many card issuers offer a free FICO score if you log into your card account.

What makes scored goals different?

What makes the Score Goals concept unique is that it offers personalized recommendations based on an individual’s specific credit score aspirations. Users should choose a goal based on their unique financial situation and will be offered timeframe options of 6, 12, 18, or 24 months. The model offers different recommendations based on each period.

Depending on how far you are currently from your credit goal, it may take as little as a few months or as many as a few years to achieve the score you are looking for. Each time you log into the program, you’ll see updated recommendations and information about your progress.

Conclusion

Aiming to improve your credit score is always a worthy financial goal. The higher your score, the better the rates you will receive on all your loans, such as mortgages, car loans and student loans. While the Score Goals program can’t get you to pay your bills on time or keep you from racking up debt on your credit cards, it can help you build better habits at no extra cost to you.

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