Free Credit Report and Analysis for Active Duty Servicemembers and Spouses
The credit score could be standing in the way of lower interest rates or credit line approvals such as for home or auto loans. The FINRA Investor Education Foundation wants to help the active duty military community understand what factors have an impact on their credit and what they can do to improve it. Active duty servicemembers and their spouses are being offered the unprecedented opportunity to receive a free credit score analysis through BrightScore, an innovative tool that includes a detailed breakdown of how the score is calculated. All information provided by the registrants is secure and their personal information will not be released without their explicit written consent. For more information, view the BrightScore demonstration. Advantages include:
- instantaneous receipt of a complete, personal credit report that explains each element of the report in easy-to-understand language;
- a customized, downloadable credit action plan; and
- access to live counselors who can discuss their report and answer questions.
This is a free service for active duty servicemembers and their spouses courtesy of the Foundation's Military Financial Education Program and SaveAndInvest.org. This tool will help members of the military community improve their understanding of their credit reports and scores. Your clients will access this free service by registering at the following site: Register Now for the BrightScore Free Credit Score and Analysis Service FINRA Investor Education Foundation, SaveAndInvest.org, and you, as their PFM, are all interested in helping your clients improve their overall financial health. BrightScore is an exceptional tool and we are confident that with the information and education included in the product along with your dedicated assistance and guidance to your clients, their credit health can only get better. Registrants will continue to have access to their Brightscore report for 90 days. As an added benefit, participants whose BrightScore is 620 or below automatically will be afforded the opportunity to get one more BrightScore report. They will receive a notice advising them that their score fell within the 620 or below range. As a result, they will be receiving one additional email 90 days from the date of their first Brightscore report. That follow-up email will serve as notification that a new and updated BrightScore is ready for their review. The purpose of the additional report is to encourage this population to take the recommended actions provided in their initial report to improve their credit scores over time and to view the results of their efforts. Registrants are encouraged to share the information contained in their BrightScore report with the PFM and PFMs are encouraged to follow up on individual progress. Please note that the only way the PFM will ever know someone's BrightScore is if the owner shares it with them. Under no circumstances will BrightScore ever provide this information to the PFM, FINRA, or SaveAndInvest.org. A tutorial has been crafted to assist you, the PFM, to better understand BrightScore and its many elements so that you can better assist your clients; you can access that tutorial here (PowerPoint 7.98 MB): 
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