Staying On Top Of Your Credit Has Never Been Easier
Are you curious about your credit score? Want to know what appears on your credit report? Do you know the areas in which you could improve to raise your score? You can find the answers to these questions and more at MemberSource Credit Union's Credit Score by SavvyMoney. Access your credit score, full credit report, credit monitoring, financial tips and education - for FREE! And, all of this is available to you to review and it won't impact your credit score. When you enroll, you'll get:
- Daily access to your credit score
- Real time credit monitoring alerts
- Personalized credit report
- Credit score simulator
- Credit offers
It's easy to get started. Enroll any time by logging into your online banking or mobile banking profile.
FREQUENTLY ASKED QUESTIONS
What is Credit Score by SavvyMoney? It's an online tool that helps you stay on top of your credit by providing your latest credit score and report and understanding key factors that impact the score. It also monitors your credit daily and informs you by email if any significant changes are detected, such as a new account being opened, a change in address, employment, delinquency, or inquiry has been reported.
Does Credit Score offer Credit Monitoring as well? Yes. It will monitor and send email alerts when there has been a change to your credit profile.
Is there a fee? No. It is entirely free for MemberSource CU members.
Will accessing it "ding" my credit and potentially lower my credit score? No. It is a "soft inquiry" which does not affect a credit score. Lenders use "hard inquiries" to make decisions about creditworthiness when you apply for loans.
How often is the credit score updated? It is updated every seven days and displayed in mobile and online banking. You can click "refresh score" as often as every day for an updated credit score.
What if the information provided appears to be wrong or inaccurate? This tool shows the most relevant information from a credit report. If you think some information is wrong or inaccurate, you can obtain a free credit report from www.annualcreditreport.com and then dispute inaccuracies with each bureau individually. Each bureau has its process for correcting inaccurate information, but MemberSource CU users can "file a dispute" with Transunion by clicking on the "Dispute" link within the tool. Transunion will share this with the other bureaus if the inaccuracy is verified.
Why do credit scores differ? Three major credit reporting bureaus (Equifax, Experian, and Transunion) and two scoring models (FICO and VantageScore) determine credit scores. Financial institutions use different bureaus, as well as their own scoring models. Over 200 credit report factors may be considered when calculating a score, and each model may weigh credit factors differently, so no scoring model is identical.
Will MemberSource CU use this to make loan decisions? MemberSource CU uses its own lending criteria for making loan decisions.
