FAQ - My Credit Plan (MCP)

My Credit Plan is a FICO® credit score improvement program designed to assist all consumers improve their credit standing and increase their FICO credit score. My Credit Plan has a proprietary analysis designed to identify steps to take in your credit report to improve your FICO scores.
My Credit Plan is hosted by Family Financial Education Foundation, a 501 (c) (3) non-profit, certified credit counselor licensed in all 50 states. Family Financial Education Foundation is based in Evanston, Wyoming and a member of the Financial Counseling Association of America.
From a recent review, My Credit Plan has helped consumers increase their FICO credit scores with over a 90% success rate with an average best score improvement over 50 points. (The success rate includes those who have had additional late payments or collections after they enrolled when their scores have declined, or who have not followed the Power Scores Planner).

For consumers who have followed their Power Scores Planner, the success rate is over 98%. This is an unprecedented level of improvement not found with any other program.
There are five distinct differences:

  1. Disclose your Classic FICO® Credit Scores - Used by all mortgage lenders and most credit card and auto lenders.
  2. Provides a 360° Analysis – Most analysis only looks at a handful of factors. The Analyzer reviews dozens of Credit Score factors for your review.
  3. Power Scores Planner – Reviews and provides a step-by-step action plan for each account in your credit report from a proprietary FICO score improvement program.
  4. Know Your Standing with Lenders – Since My Credit Plan has the same FICO® Credit Scores used by most lenders, My Credit Plan provides your loan qualifications. (For educational purposes only and does not guarantee loan approval).
  5. Update Your FICO Scores – Depending on your program, your scores will be updated monthly, bi-monthly or quarterly.

My Credit Plan is a solution-base program. It identifies issues in your credit report that are lowering your FICO credit scores, such as certain accounts or lenders. It then provides potential solutions to make a course correction and improve your scores.


Credit repair companies simply send disputes to the three major credit bureaus in an effort to try to remove late payments, collections, and judgments from your credit report. There is no real plan-of-action other than to send countless disputes, most times, in an unsuccessful effort.


Many lenders use a program called CreditXpert® (aka: Credit Assure®). It is very limited in scope. It only looks to reduce some debt in an effort to improve credit scores. Creditxpert has claimed to improve score 27 points. My Credit Plan provides a 360-degree analysis and solutions and has an improvement over 50 points.

Complete four easy steps:

  1. Create your Account ID and Password
  2. Input your Personal Information and Grant Authorization
  3. Select Program: Monthly, Bi-Monthly or Quarterly credit report / 3 score updates
  4. Make Payment

Takes just a few minutes to complete. Make sure your information is accurate.


Once completed, you log into your account and establish your identity by answering questions.

There are three options to choose from when you create an account. These three Enrollment Program options are based on how often you want to update your credit report, your plan-of-action and your three Classic FICO® credit scores.


Enrollment Programs

  1. Monthly - My Credit Plan will update your plan-of-action every 30 days along with your three Classic FICO credit scores. This is ideal for those who are making changes immediately in their credit report and want to know the changes to their three FICO credit scores.
  2. Bi-Monthly – My Credit Plan will update the analysis every 60 days along with the three Classic FICO Scores. This program is ideal for those who have a little time to make changes. (A single – the lowest of the three - Classic FICO score will still be updated during the months when the three FICO scores are not updated.
  3. Quarterly - My Credit Plan will update the analysis and three Classic FICO Scores every 90 days. This program is ideal for those who may have several issues and need more time to address them. The lowest of the three FICO scores will be updated every 30 days when the three FICO Scores are not updated.

After six months of enrollment, you can migrate to a different (and less-costly) program, one that updates 3 FICO Scores less frequently. It is called the Long-Term Growth Plan.

Enrollment Programs

  1. Semi-Annually – My Credit Plan will update your plan-of-action every 6 months along with your three Classic FICO credit scores. This is ideal for those who continue to make changes in their credit report and want to know the changes to their three FICO credit scores. A single score is updated monthly and will monitor your progress.
  2. Annually – My Credit Plan will update the analysis every year along with the three Classic FICO Scores. This program is ideal for those who have goals to achieve over many months or even years. A single – the lowest of the three – Classic FICO score be updated for the 11 months when the three FICO scores are not updated.

Generally 12 months.


However, consumers can change their selected program after six months in My Credit Plan to a longer-term score improvement program. Such programs are generally lower cost and updates are pushed out to longer time frames, such as quarterly, semi-annually, or even annually.


You can continue your enrollment after 12 months by simply continuing your program.


The host of My Credit Plan, Family Financial Education Foundation incurs costs to request your “Lender’s” credit report with your 3 FICO® Classic Credit Scores.


Many other sites will offer a “consumer” credit report with an unreliable “consumer” score. There is a reason these scores are offered for free. These scores are different and are not used by lenders. They are unreliable and do not reflect your actual credit scores used by your lenders.


No


Family Financial Education Foundation and My Credit Plan incur costs when your account is first set up and all subsequent updates. For this reason, there is no free introductory period.

My Credit Plan utilizes proven solutions to increase your Classic FICO Credit Scores.


Other programs utilize other less efficient means. Credit repair companies simple send multiple dispute letters to try and remove past derogatory marks like collections, tax liens and judgments. Such companies will easily charge you a lot of money for sending a few letters.


One of the major credit bureaus offers a “Boost®” program. This program simply adds a utility payment or two to your credit report. Again, there is no plan of action as offered with My Credit Plan.