Military Physicians, Spouses, Now Get Free Credit Scores

March 2, 2011

All active duty U.S. servicemembers, including military physicians and other healthcare professionals, and their spouses now have access to free credit scores, along with educational information and tools to help monitor and manage their credit.

All active duty U.S. servicemembers, including military physicians and other healthcare professionals, and their spouses now have access to free credit scores, along with educational information and tools to help monitor and manage their credit from MyFICO.com.

The new service is provided by the FINRA Investor Education Foundation, working with the U.S. Department of Defense's network of military financial educators and counselors.

In addition to being allowed to obtain a free FICO Score -- the score most major banks and lenders use to determine a borrower’s creditworthiness -- the new service provides a “score simulator” that analyzes the effect of specific behaviors, such as the impact of paying off a credit card, opening a new account, reaching credit-card limits, obtaining a car loan or missing a payment.

"The FINRA Foundation is providing free access to this vital credit management tool to help active duty servicemembers take real steps to achieve a more secure financial future," said FINRA Foundation President John Gannon.

Physicians who are interested in obtaining their FICO credit scores, and other debt management tools, should contact the military financial educator at their installation, FINRA said.