The content is accurate at the time of publication and is subject to change.

SoFi free Credit Score Monitoring

  • 100% free credit score
  • No credit card required
  • Won’t impact your credit score
  • Transunion Vantage 3.0 credit score is updated weekly
  • Receive alerts when your score changes
  • Receive $10 in cash reward points when you sign up336

In today's world of fraud, it is extremely vital to monitor your credit reports and credit scores as one of the safeguard measures against identity theft. Credit monitoring services help you stay alerted: you can use them to get notified of any changes to your credit reports so you could act fast to prevent potential misuse of your personal information.

Whether you were a victim of fraud or simply want to be proactive, you can consider signing up for a credit monitoring service like Credit Score Monitoring from SoFi. It is a free service that comes with many features. Below, we review SoFi's Free Credit Score Monitoring service to help you understand how it works.

What Is SoFi Free Credit Score Monitoring

SoFi's Free Credit Score Monitoring is a service that allows you to view your credit score for free and simulate different credit scenarios to see how they might impact your score. SoFi uses TransUnion Vantage Score 3.0 model for the service. The score is updated every week, so you can notice a slight change fast and take action if needed.

If you are not sure or don't know what to do to improve your credit score, the service will offer you credit insights that will help you understand what factors have a positive impact on your credit score and what you can do to influence them. If credit insights are not enough and you need a piece of financial advice from a specialist, you can get personalized advice from a Certified Financial Planner™ at no cost.

Additionally, SoFi has recently added a new feature - debt summary. This feature will allow you to track your all debt balances in one place. For your convenience, you can see your debts organized by balance, interest rate, time remaining, and monthly payment. Plus, it will offer tips on how to manage and pay down your debt.

All these benefits are offered at no cost and absolutely no impact to your credit score. Additionally, new members can get $10 in rewards points for signing up for Free Credit Score Monitoring.

Features at a Glance

Credit Score Monitoring from SoFi offers free credit score and help you understand what impacts your credit scores. Once you sign up for the service, you'll get access to various benefits, the top of which you can see below:

  • Access to TransUnion Vantage Score 3.0 credit score
  • Weekly score updates
  • Credit insights and advice from a SoFi specialist
  • Up-to-date overview of your debt balances
  • "Soft" pulls only and no impact to your credit score
  • No fees.

How Free Credit Score Monitoring Works

Sign up online or on the SoFi app. Once activated, you can link your checking or savings account, retirement accounts, credit cards, student loans, mortgages, and other loans. If you cannot link your accounts, you can manually add any account or asset (like an owned car or home) so that you are able to see your entire financial picture.

Once you are in the SoFi app, tap "Credit score" to see more details about your current credit score, recent changes, credit utilization, payment history, age of credit, total accounts you have, inquiries, and derogatory marks. You can also simulate your credit score by tapping "Credit utilization" and then "Simulate a different balance". This simulator is also powered by TransUnion, so the simulation will be pretty close to real numbers (but it'll still be an estimation).

Pros and Cons of SoFi Free Credit Score Monitoring

Pros

  • Helps you view and track your credit score
  • Gives financial advice and useful tips
  • Updates scores weekly
  • Gives free access to a Certified Financial Planner™
  • Allows to earn rewards points
  • Completely free

Cons

  • Some may have problems with connecting their accounts
  • Shows Vantage score from one credit bureau only.

Bottom Line

Access to SoFi's Credit Score Monitoring is free, so you can sign up just to see how it works for you. In fact, you can even earn bonus points, which will be a plus if you already use other SoFi products. The Credit Score Monitoring service does not impact your credit scores as it uses soft pulls to show you your current credit score. So no worries here that your scores might drop. In fact, the service can get you useful insights on how to increase your credit score. If you were looking for a credit score monitoring service, SoFi's Free Credit Score Monitoring is worth a try.

SoFi free Credit Score Monitoring

    Key Feature

  • 100% free credit score
  • Monthly Fee

  • No