MIAMI — Ally announced yesterday at the National Association of Minority Automotive Dealers (NAMAD) annual convention that, starting July 19, it will add customers' annual percentage rate (APR) to their online account profiles. The finance source will provide customers with their FICO Score and has launched a secure email feature on its site to help customers send and receive account information and documents quickly and safely.
Ally's decision to provide FICO Scores for customers was announced earlier this year at President Obama's BuySecure event. The move is designed to help consumers monitor their credit health. Ally has also added tips and information to its financial literacy resources that explain the significance of a consumer's FICO Score and how it impacts the auto finance process.
"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."
Ally customers will be able to access their APR, FICO Score and secure email by logging into their existing auto online account or creating an online account at www.ally.com/auto/. Dealers can also point car buyers to Ally’s Wallet Wise website at www.allywalletwise.com. There they’ll find information on the impact a FICO score has on APR as well as additional tips and resources on the car-buying process. Educational course on budgeting, credit, banking and investing are also available through the site.