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Changes are coming to American Express MyCredit Guide

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Saleen099
Senior Contributor

Changes are coming to American Express MyCredit Guide

We're making some changes to American Express MyCredit Guide, which will be coming soon. Here's what you should know:
Same as today, American Express MyCredit Guide will remain a free service.
The Credit Score you will see is your FICO® Score 8 provided by Experian®, instead of your VantageScore® 3.0 provided by TransUnion. FICO® Scores are developed by Fair Isaac Corporation.
Your detailed Credit Report will be provided by Experian® instead of TransUnion.
MyCredit Guide will have a new design with updates to existing features, such as Score Goals, Score Simulator, and Credit & Identity Monitoring alerts.
If you previously set a Score Goal, you will need to reset it using the new FICO® Score Planner tool because we are moving to FICO® Score 8.
Your Credit Score history as well as any prior Credit or Identity Monitoring alerts will not be carried forward to the new experience.
If you had elected not to receive emails from American Express MyCredit Guide, your email preferences will be reset so you will receive all alerts. However, after the launch of the updated experience, you can reset your privacy choices around the types of communication you want to receive by logging in to MyCredit Guide and navigating to "Manage Email Preferences" under the "My Account" section.
To access the updated experience, you'll log in to MyCredit Guide the same way you do today - through your American Express online account or the mobile app. Your profile information will automatically be updated with your latest Card account information and securely migrated to the new experience. If your information is incorrect, please log in to your online account or mobile app to update it. In some rare cases, when you try to log in for the first time, you may be prompted to re-enroll into MyCredit Guide to access the updated experience.

 

 

 

Message 1 of 6
5 REPLIES 5
JoeRockhead
Senior Contributor

Re: Changes are coming to American Express MyCredit Guide

Nice to see they're going to FICO 8 and dropping the VS, appreciate you sharing the info.

Message 2 of 6
Saleen099
Senior Contributor

Re: Changes are coming to American Express MyCredit Guide


@JoeRockhead wrote:

Nice to see they're going to FICO 8 and dropping the VS, appreciate you sharing the info.


Yes, that's nice.
 Plus 👇 
Your detailed Credit Report will be provided by Experian instead of TransUnion.

Message 3 of 6
Beefy1212
Established Contributor

Re: Changes are coming to American Express MyCredit Guide


@JoeRockhead wrote:

Nice to see they're going to FICO 8 and dropping the VS, appreciate you sharing the info.


I disagree, not because a fico score isn't more helpful it is... but experian already gives us that score and the full credit report, in addition we already get our experian score for free from amex because we have an amex card, so now Amex is going to give us the same experian data twice?

VS scores are certainly of less value in general, but in this particular case a VS score is of more value than a duplicated score, and gaining another free source of a completely different CRA was of much more value. 

In the end this is Amex saving money by offering less and dressing it up as them doing us a favor, and yes both of these scores VS3 TU and EX F8 are easily gained for free. This just isn't an upgrade for amex card holders. 



Message 4 of 6
citymunky
Established Contributor

Re: Changes are coming to American Express MyCredit Guide

As @Beefy1212 mentioned, this looks like a cost saving measure by AMEX,  in addition to all the other changes they are making (ie Platinum card SUBs) . They already offer EX FICO 8 scores to card members, so big change for us. 

 

 

Screenshot_20231015_080903_Amex.jpg

 

Rebuilding since 2021


Closed CCs
USAA (Jul 2019| Settled CO), Jasper $1 CL (Jul21-Jul22), Sable $250CL{Secured} (Jan22-Jun23), CreditOne Platinum $750CL (Jul21-Aug23), Prosper $1.9K CL (Jan22-Apr24)

Starting FICO 8 Scores:
Current FICO 8 Scores:


Message 5 of 6
SouthJamaica
Mega Contributor

Re: Changes are coming to American Express MyCredit Guide

Not that it matters, but I doubt this saves Amex any money. I'm guessing it costs a little more.

What I think matters is that it will be more useful, especially to those folks who rely on free services.


Total revolving limits 657200 (536700 reporting) FICO 8: EQ 712 TU 710 EX 708

Message 6 of 6
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