Why banks don't give away free FICO score?

[w20031424]

We've seen very few cases that banks/CU giving away complimentery or paid FICO score, Walmart card/ DCU are among the few exceptions. What's the reason behind this? I seriously doubt it's purely a matter of fee of acquiring FICO score, because plenty of lenders should be able to offer these complimentary service to their AF card customers. 

Anyone got ideas on this? Thanks. 

[john398]

I think they have to pay Fair Issac to get the scores so its a reason of costs unless they are already using the FICO scores for Auto CLI  decissions such as GE maybe doing already

[09Lexie]

I assume the main reason is the costs. AFs would not come close to cover a monthly CS fee.

[Walt_K]

In addition to cost, it's not a benefit that too many people care about.  You can get a distorted perspective hanging around these forums. 

[w20031424]

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@09Lexie wrote:
I assume the main reason is the costs. AFs would not come close to cover a monthly CS fee.

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I assume the fee of acquiring a single FICO score is under $5 for banks, or I cannot immgaine Walmart  or DCU pays $60 per year for the CC or checking account customer.

[09Lexie]

A fee which offset by Walmart's high APR ( we are not the norm by PIF) and which there are dwindling CUs offering the free CS. Comparing the number of DCUs account holders to the 100,000's say a CapOne may have is an unfair comparison.

Bottom line for cc's companies and banks is their bottom line. Why offer anything for free?

[llecs]

Ditto to most (most all) people not caring. If customers don't care, then creditors don't either. It's easier to be on an affiliate program with a FAKO-based service. But you can get a FICO from Merrick Bank and Wal-Mart if you have their CC, from DCU, PSECU, M&T Bank, Unitus Community CU if you have their checking, and a host of other CUs out there who will provide it to you if you ask them.