Your credit score and credit report are waiting for you.
What’s Your Credit Score?
Simply put, lenders determine your creditworthiness by your credit score – making it more than a number.
The higher the credit score. The lower the rates. The lower the rates, the more you save in interest.
Credit scores have become an integral part of our everyday lives. That’s why it’s important for you to keep track of your score. Resource One offers Credit Score by SavvyMoney for our members to monitor their credit score for free.
Free Credit Report
Daily Score Updates
What is Credit Score by SavvyMoney?
Credit Score by SavvyMoney is a comprehensive credit score program offered by Resouce One Credit Union, which helps you stay on top of your credit. You get your latest credit score and report, an understanding of key factors that impact the score, and can see the most up to date offers that can help reduce your interest costs. With this program, you always know where you stand with your credit and how your financial institution can help save you money.
Is there a fee?
No. Credit Score is entirely free and no credit card information is required to register.
How often is my credit score updated?
As long as you are a regular online banking user, your credit score will be updated every month and displayed in your online banking screen.
How does the Credit Score differ from other credit scoring offerings?
Credit Score pulls your credit profile from TransUnion, one of the three major credit reporting bureaus, and uses VantageScore 3.0, a credit scoring model developed collaboratively by the three major credit bureaus: Equifax, Experian, and TransUnion. This model seeks to make score information more uniform between the three bureaus to provide consumers a better picture of their credit health.
Why do credit scores differ?
There are three major credit-reporting bureaus—Equifax, Experian and Transunion—and two scoring models—FICO or VantageScore—that determine credit scores. Financial institutions use different bureaus, as well as their own scoring models. Over 200 factors of a credit report may be taken into account when calculating a score and each model may weigh credit factors differently, so no scoring model is completely identical. No matter what credit bureau or credit scoring model is used, consumers do fall into specific credit ranges: Excellent 781–850, Good 661-780, Fair 601-660, Unfavorable 501-600, Bad Below 500.
Will Resource One Credit Union use Credit Score by SavvyMoney to make loan decisions?
No, Resource One Credit Union uses its own lending criteria for making loan.
Will Credit Score share my credit score with Resource One Credit Union?
No, Credit Score is a free service to help you understand your credit health, how you make improvements in your score, and ways you can save money on your loans with Resource One Credit Union.
What if the information provided by Credit Score appears to be wrong or inaccurate?
Credit Score makes its best effort to show you the most relevant information from your credit report. If you think that some of the information is wrong or inaccurate, we encourage you to take advantage of obtaining free credit reports from www.annualcreditreport.com and then pursuing with each bureau individually. Each bureau has its own process for correcting inaccurate information.
Will accessing Credit Score “ping” my credit and potentially lower my credit score?
No. Checking Credit Score is a “soft inquiry”, which does not affect your credit score. Lenders use “hard inquiries” to make decisions about your credit worthiness when you apply for loans.