SavvyMoney – Access Your Credit Score & Report for Free
We are excited to offer our members a credit monitoring tool, SavvyMoney!
When you log into online banking or the app, you now have instant access to your credit score and credit report, along with personalized tips on how to improve or maintain your score.
This new tool breaks down and grades each section of your report on payment history, credit usage, total balances, credit age, and recent credit. SavvyMoney tells you why your grade is what it is and how to improve it to increase your score.
Free Credit Score & Report
Checking daily, weekly, or monthly won’t hurt your score! You can log in anytime to see your personalized tips for credit score improvement, find out what you’re doing well, and what needs to change.
How to improve a credit score
Our new credit score tool can help you learn more about improving your score. This beneficial tool also has a section of advice and information from financial expert, Jean Chatzky.
A few tips to get you started:
- Payment History: Pay your bills on time.
- Credit Usage: Don’t keep a high balance on credit cards. Also don’t open new cards just to increase your available limit.
- Total Balances: Keep a diverse mix of debt accounts. A mix of installment and revolving accounts is better than having only one type of debt.
- Credit Age: Don’t open too many accounts too quickly. Keep your oldest account open, if you can. Also, don’t close unused cards.
- Recent Credit: Do not open too many accounts in a short span.
Credit Score Simulator
While the simulator can’t guarantee the actual rise or drop in score, it is comforting to be able to get a sense of how decisions related to credit could impact your score. Here are some of the activities you can put into the simulator to see how they could impact your score:
Example of simulated credit score with one month of payments missed.
– Adding new loans by type, including Auto, Personal and Mortgage
– Adding new credit cards and balance transfers
– Increasing balances on cards
– Raising limits on cards
– Paying off credit cards
– Missing monthly payments
– Making on-time payments