Do You Know Your Credit Score?
Even if you’re not quite ready to make a big purchase, having a sense of your credit and working to build your score will better position you in the future. Or perhaps you’ve been told your score needs to improve before you’ll be able to take out a loan?
Consider Credit Score powered by SavvyMoney, available to you at no cost through Chelsea Groton Bank’s online and mobile banking platform.
You’ll have access to:
Credit Monitoring
Monitor your credit report daily. You’ll receive an email if any significant changes are detected, such as a new inquiry, a new account opened, a change in address or employment, or a delinquency has been reported. In addition to monitoring your own financial behaviors, the tool helps you to monitor for identity theft too.
Score Simulator
A score simulator is an interactive tool that allows you to select various actions you can take and see how your score could be affected. For instance, opting to pay off a credit card balance might make your score move up or down. Using the simulator will not affect your actual score.
Goals
Set a goal to increase your score by a set number of points over a specific time period. You can track your progress towards the goal and receive customized recommendations on how to improve your score based on successful credit habits.
Here are a few reasons to try Credit Score:
There is no cost to you, and no negative impact to your score when monitoring through this tool that was designed to help you understand your credit.
You benefit from the added level of credit protection by receiving daily credit monitoring alerts.
Receive financial tips and education to help you understand the factors that make up your score and ways you can improve it.
No. Credit Score is free and no credit card information is required to register.
Your score will be updated every seven days and will display within your online and mobile banking account. You can refresh your score and access a full report every 24 hours by clicking Refresh Score.
Each credit bureau has its process for correcting inaccurate information. If you feel something is inaccurate, you can “File a Dispute” by clicking on the “Dispute link” within the Credit Score credit report. It should be noted the credit score being pulled is from TransUnion. There are other credit reporting agencies whose scores could vary slightly based on the information they are pulling from. The results shown are intended to guide your credit habits. When applying for any loan, the institution reviewing your application may pull a number different from the TransUnion score.
No, using Credit Score is a “soft inquiry,” which does not affect your score.
No. There are several different credit scoring modules available. The module Chelsea Groton Bank utilizes during the loan application review process may differ from the score shown in the Credit Score tool.
Simply login to Online or Mobile Banking and click Credit Score to get started.
