Keep track of your credit score with SavvyMoney
As a member of DMCU, you have access to FREE online banking credit score monitoring. Educate yourself on what your credit score is made up of and get to know how you can improve your score. Watch a short video here.
You can get all of this and more when you sign up. Log in to your online banking or mobile.
SavvyMoney is a comprehensive credit score program offered by your financial institution that 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.
SavvyMoney also monitors your credit report daily and informs you by email if there are any big changes detected such as: a new account being opened, change in address or employment, a delinquency has been reported or an inquiry has been made. Monitoring helps users keep an eye out for identity theft.
SavvyMoney Credit Report provides you all the information you would find on your credit file including a list of open loans, accounts and credit inquiries. You will also be able to see details on your payment history, credit utilization, and public records that show up on your account. When you check your credit report, there will be no impact to your score.
No. SavvyMoney is entirely free and no credit card information is required to register.
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. You can click “refresh score” as frequently as every day by navigating to the detailed SavvyMoney site from within online banking.
SavvyMoney 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 with a better picture of their credit health.
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.
No, DMCU uses its own lending criteria for making loans.
No, your SavvyMoney 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 DMCU.
SavvyMoney uses bank level encryption and security measures to keep your data safe and secure. Your personal information is never shared with or sold to a third party.
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