Hyundai and Kia Become the First Captive Auto-Finance Companies to Offer Free FICO Scores to All of Their Customers

IRVINE, CA -- Feb. 23, 2015: Hyundai Capital America (HCA), a top-10 U.S. captive auto-finance company, that does business as "Hyundai Motor Finance" and "Kia Motors Finance," is pleased to announce it has expanded its partnership with FICO , a leading predictive analytics and decision management software company.

Today, HCA became the first captive auto-finance company to provide free FICOŽ Scores to all of its customers as part of the FICOŽ Score Open Access program.

All Hyundai Motor Finance (HMF) and Kia Motors Finance (KMF) customers can easily opt-in via the HMF and KMF web and mobile sites. Participating customers are able to view their free FICOŽ Score from HMF and KMF when they log into their account (in keeping with the company's "Go Paperless" efforts, the scores will only be available online). The FICOŽ Score will be updated on a quarterly basis and customers will continue to have access to their free FICOŽ Score for one year after their retail finance or lease contract is paid off.

Last year, HCA became the first captive auto-finance company to offer free FICOŽ Scores to customers, focusing exclusively on participants in the company's College Grad program. Today's step represents a major expansion of the program, and an increased commitment to helping customers stay informed and empowered when it comes to their financial health.

"We're proud to be a leader amongst the captive auto-finance companies in providing free FICOŽ Scores to all of our customers," said Larry Frankel, senior vice president of sales and marketing for Hyundai Capital America. "From applying for a loan to returning a lease, we're committed to making the financing process an easy and positive experience for our customers. This program enables us to add transparency on top of convenience. It's a great tool that helps us further demonstrate to our customers that we are focused on building long-term relationships and serving their auto-financing needs for years to come."

In addition to providing customers with online access to their FICOŽ Scores, HMF and KMF will also provide the top two factors currently affecting the customer's individual FICOŽ Scores as well as online access to educational content designed to help customers understand their credit score.

"We applaud Hyundai Capital America for being an early adopter of the FICOŽ Score Open Access program," said Jim Wehmann, executive vice president of Scores at FICO. "This step will provide more borrowers across the country with the tools and information they need to more fully understand how to manage their financial health and build a strong financial foundation for the future."