CVF is making is easier to monitor your credit for… FREE!
Check Your Credit Score… Daily
That’s right, as a member, you can check your credit score each time you log into your mobile or online banking! My Credit Score is a free service offered by CVF Credit Union and powered by SavvyMoney®.
With one click, you can check your credit score, view your credit report, and get up-to-date credit monitoring notifications. You can also find out what affects your score, how you can save money, and how to improve your score or rebuild your credit.
To activate and use this free service, simply click My Credit in mobile or online banking. Need to enroll in eBranch? Click the link below.
Not a member? Join today.
Perks of My Credit Score
Stay up-to-date without affecting your credit.
Many people worry that by checking their credit score too much they will see their score drop. Actually, using My Credit Score to check your score is what is known as 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.
Monitor your credit to prevent fraud and identity theft.
My Credit Score 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, if a delinquency has been reported or an inquiry has been made. Monitoring helps users keep an eye out for identity theft.
Common sense tools for managing your credit.
My Credit Score events help you visualize the relationship of your credit score with payment history, usage, or opening & closing of accounts. Use the credit score simulator to see the potential impact of opening new accounts or paying off balances. This interactive tool will simulate your credit scores before you actually take any actions.
Helpful information to empower you.
Based on your My Credit Score information, you may receive helpful articles and product offers from CVF Credit Union. These materials provide helpful tips on how you can manage credit and debt wisely. The product offerings may be of interest to you. In most cases, these offers may have lower interest rates than the products you already have. Our goal is to empower you with the information to make the most out of your money.
My Credit Score Allows You To:
- Check your credit score daily
- Monitor credit for unusual activity
- Get alerts for changes to your credit
- View your full credit report
- Visualize what affects your credit score
- Simulate how future actions may impact your score
- Dispute items on your credit report
- Get tips on rebuilding credit & saving money
- Get instant offers based on your credit
For more information email email@example.com or call us at 734-432-0212. Would you like us to help you customize your settings? Stop by our office and talk with a digital banking specialist.
What is "My Credit Score?"
My Credit Score, powered by SavvyMoney, is a comprehensive Credit Score program offered by CVF Credit Union helping 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 or lower your monthly payments. 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?
How often is my credit score updated?
As long as you regularly access digital banking, your credit score will be updated every 30-days and displayed within your online banking screen. You also have the ability to refresh your credit score and full credit report every 24-hours by clicking “Refresh Score” by navigating to the detailed Credit Score Dashboard from within digital banking.
Will accessing My Credit Score "ding" my credit and potentially lower my credit score?
No. Checking My Credit Score is always a “soft inquiry”, which does not affect your credit score. Lenders will use “hard inquiries” to make decisions about your credit worthiness when you apply for loans.
Does My Credit Score offer credit report monitoring as well?
Yes. After you have enrolled in My Credit Score for the first time, SavvyMoney will monitor and send email alerts when there’s been a change to your credit profile. When applicable, you can also find these monitoring alerts within your online or mobile banking account.
Why do credit scores differ?
There are three major credit-reporting bureaus (Equifax, Experian, and Transunion) and two scoring models (FICO and VantageScore) that determine credit scores. Financial institutions use different bureaus, as well as their own scoring models. More than 200 factors of a credit report may be considered when calculating a score and each model may weigh credit factors differently, so no scoring model is completely identical but should directionally be similar.
Will CVF Credit Union use My Credit Score to make loan decisions?
No, CVF Credit Union has its own lending criteria when making final loan decisions. However, the SavvyMoney tool can show you estimated savings opportunities on new and existing loans. Final rate, term, monthly payment, and other factors will be determined at the time of application.
If CVF Credit Union doesn’t use My Credit Score to make loan decisions, why do we offer it?
My Credit Score can help you manage your credit so when it comes time to borrow for a big-ticket purchase (such as buying a home, car, or paying for college) you have a clear picture of your credit health and can qualify for the lowest possible interest rate. You’ll also see offers on how you can save money on your new and existing loans with CVF Credit Union.
What if the information provided by My Credit Score appears to be wrong or inaccurate?
My Credit Score, powered by SavvyMoney 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 but every user can “File a Dispute” by clicking on the “Dispute” link within their SavvyMoney Credit Report. However, The Federal Trade Commission website offers step-by-step instructions on how to contact the bureaus and correct errors.
How does My Credit Score keep my financial information secure?
My Credit Score 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.