What is SavvyMoney and how do I view my credit score in online banking?
SavvyMoney is an online tool that lets you check your latest credit scores and reports for free, offers real-time credit monitoring, and finds savings on loans and credit cards—all through your online and mobile banking.
SavvyMoney Credit Report gives you all the details you’d find on a credit file, like current and past loans, accounts, and credit inquiries. You can see your payment history, credit utilization, and any public records on your account. Looking at your credit report won’t affect your score.
Can I request a free credit report from SavvyMoney?
No. However, we encourage all STCU members to get a free credit report each year at annualcreditreport.com or by calling (877) 322-8228.
How does SavvyMoney work?
How does SavvyMoney put together my report?
SavvyMoney gets your credit profile from TransUnion, one of the three big credit bureaus, and uses VantageScore 3.0 to make your score more consistent across the different bureaus. This gives you a clearer picture of your credit health, since the key factors driving the score are the same.
Why do credit scores differ?
The three major credit reporting bureaus — Equifax, Experian, and Transunion — use two scoring models to determine credit scores, using more than 200 factors. So, no two scoring models are identical, yet all provide a picture of your credit health.
How often is my credit score updated?
Weekly. When you log in to STCU online banking, you'll see the date that your credit score was last updated, along with any changes since the previous update.
What if the information provided by SavvyMoney Credit Score appears to be wrong or inaccurate?
SavvyMoney Credit Score isn’t a full picture of your accounts. For a complete view and to check for errors, get free credit reports from www.annualcreditreport.com. If you find any issues, you can dispute them directly through the “Dispute” link in your SavvyMoney Credit Report. For more help, the Consumer Financial Protection Bureau’s website has detailed instructions on how to contact the bureaus and fix errors.
How does SavvyMoney keep my financial information secure?
SavvyMoney uses bank-level encryption and security policies to keep your data safe. It also has a smart system that scans for and blocks online bots, intrusions, and attacks. Every year, a third-party auditor reviews SavvyMoney's policies and processes. Plus, multiple digital banking platforms' security and compliance teams have verified that SavvyMoney meets their strict security guidelines to protect both users' and financial partners' data.
Loan decisions.
Will STCU use SavvyMoney Credit Score to make loan decisions?
STCU uses our own lending criteria when making final loan decisions and has no access to SavvyMoney Credit Score.
If STCU doesn't use SavvyMoney Credit Score to make loan decisions, why is it being offered?
STCU is strongly committed to financial education, including a good understanding of credit health. We believe this tool helps members manage their credit, to qualify for the lowest possible rate when it's time to borrow for a home, car, or other needs.
Will accessing SavvyMoney hurt my credit score?
No. Checking SavvyMoney Credit Score is always a “soft inquiry,” which doesn’t affect credit scores. Typically, ‘hard inquiries’ are used by lenders to make decisions about creditworthiness when you apply for a loan. Multiple hard inquiries can lower a credit score.
Once I start using SavvyMoney, can I change my email address or other personal information?
SavvyMoney automatically updates your email or personal information if you make changes in online banking.
Can users access SavvyMoney on mobile devices?
Yes. You can use SavvyMoney Credit Score and all its features on mobile or tablet through our mobile banking app.
