Ally Financial Joins Other Auto Lenders Offering Free Credit Scores
Ally Financial announced it would make free Fico scores available to auto loan customers later this month, as well as adding customer Annual Percentage Rates to online account profiles. Ally is also making available a secure email feature on the site so customers can send and receive account information and documents.
“In the digital world, having the tools to manage and monitor finances has become increasingly important for many consumers,” said Tim Russi, president of auto finance at Ally.
“By offering direct access to their Fico Scores and APR within their online accounts, Ally is adding a new level of transparency, and making it easier and faster for them to access their account details and credit information,” he said in a written statement.
The new features take effect July 19, the company said.
The lender announced the changes at the National Association of Minority Automotive Dealers annual convention in Miami on Wednesday. Ally had originally announced in January that it would make Fico scores available via its Ally Auto Online Services and Ally Auto Mobile Pay App, and tested the program in February with a limited number of customers.
Also in February, Hyundai Capital America, the captive finance company which serves the Hyundai and Kia brands in the United States, said it was the first captive to offer access to free Fico scores to all its customers.
Fico, which is short for Fair, Isaac Corp., originally launched its Fico Score Open Access program in 2013.
