Hyundai and Kia have taken a revolutionary step in the auto finance industry by becoming the first to offer credit score monitoring free of charge to certain borrowers. The program is called the FICO Score Open Access Program, and it includes a free copy of your FICO credit score four times a year (quarterly), delivered via regular mail. Currently, this program is only offering to buyers in the two companies’ college grad programs, but Hyundai has plans to take the program online to a much wider range of consumers in the future.
This program follows in the wake of Discover offering a similar program to credit card holders. It’s conceivable that many creditors and lenders will incorporate free credit score updates into their offerings, as consumers become more and more “credit-conscious” in these times of not-so-easy credit.
Auto Finance News has the full scoop here: http://www.autofinancenews.net/hyundai-offers-free-fico-updates/