Keep a Close Eye on Your Credit Score — Safely — with SavvyMoney
Did you know that checking your credit score more than once a year can actually damage your credit? That’s because each inquiry can lower your score. But when you belong to DMCU, you can check your score anytime without worrying about affecting the number. This is important because you need to stay informed about what’s on your credit report in order to protect yourself against fraud. Find out more about what a credit score is and how you can improve yours by watching this short video.
SavvyMoney is a program that helps you monitor your credit. It tells you not only your current credit score, but it also reveals what is on your report at any given time. Furthermore, it helps you learn what impacts your credit score and shows you how to take advantage of offers that lower your interest rates on loans you may have outstanding. Not only does SavvyMoney allow you to safely check your credit report at any time, but it also alerts you to events such as a change of address or employment, a new account being opened, a delinquency or an inquiry. If you haven’t made the changes, you can report the issue to the proper authorities immediately.
SavvyMoney Credit Report shows you everything in your credit file — outstanding loans, open accounts, credit inquiries, etc. Your credit report also shows payments you have made, how much credit you have and what your utilization rate is, and any public records listed there.
No. The use of SavvyMoney is free to all DMCU members.
Your credit score is automatically updated monthly and you can see the change displayed on your online banking screen. However, you can refresh the page to see any changes to your score as often as every day if you like, without penalty.
SavvyMoney uses VantageScore 3.0, which pulls data from the three major credit bureaus — TransUnion, Equifax and Experian, rather than just one. This provides a more accurate picture of your credit history.
Financial institutions use different bureaus and different models to calculate your credit score. While your score may not be exactly the same at each bureau, it is likely to be similar.
No. SavvyMoney is a free service offered to members to help them understand and improve their credit rating, as well as a way to inform them about how they can save money with loans from DMCU.
No. We use our own criteria for lending.
SavvyMoney uses encryption and other top-level technical firewalls to keep your data safe from hackers. SavvyMoney never sells your information to a third party.
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