American Express has launched a new feature called ‘Score Goals‘ as part of their MyCredit Guide suite of credit scoring products. This product is available to both American Express cardholders and those without an American Express card. Score goals lets you do three main things:
- Receive personalized recommendations
- Set your credit score goals
- Track your credit score
Unfortunately as this is part of MyCredit Guide it uses VantageScore as the credit scoring model, whereas for actual lending decisions (e.g whether to approve or deny you for a new card) American Express generally uses a variation of the FICO score. Because of that there is very little value here for consumers.
