FAQ

Credit Score

1. What is Credit Score?

   Our Credit Score tool, powered by SavvyMoney, is available to our members through online and mobile banking. It is a free service to help our members understand their credit score by giving them access to their full credit report.

   Additionally, members will have access to financial tips and education, credit offers based on their score, a credit score simulator, credit monitoring alerts, and more. 

2. What is in the Credit Score's credit report?

   Credit Score's credit report provides you all the information you would find on your credit file including a list of open loans, accounts and credit inquiries.  You will also be able to see details on your payment history, credit utilization and public records that show up on your account. Like with your credit score, when you check your credit report, there will be no impact to your score.

3. Is there a fee?

   No. Our Credit Score tool is entirely free and no credit card information is required to register.

4. How often is my credit score updated?

   As long as you are a regular online banking user, your credit score will be updated every month and displayed in your online banking screen. You can click “refresh score” as frequently as every day by navigating to the detailed Credit Score Dashboard within online banking. 

5. How does the Credit Score tool's credit score differ from other credit scoring offerings?

   Our Credit Score tool pulls your credit profile from TransUnion, one of the three major credit reporting bureaus, and uses VantageScore 3.0, a credit scoring model developed collaboratively by the three major credit bureaus: Equifax, Experian, and TransUnion. This model seeks to make score information more uniform between the three bureaus to provide consumers a better picture of their credit health.

6. Why do credit scores differ?

   There are three major credit-reporting bureaus—Equifax, Experian and Transunion—and two scoring models—FICO or VantageScore—that determine credit scores. Financial institutions use different bureaus, as well as their own scoring models. Over 200 factors of a credit report may be taken into account when calculating a score and each model may weigh credit factors differently, so no scoring model is completely identical. No matter what credit bureau or credit scoring model is used, consumers do fall into specific credit ranges: Excellent 781–850, Good 661-780, Fair 601-660, Unfavorable 501-600, Bad Below 500.

7. Will HRCU use Credit Score's credit score to make loan decisions?

   No, HRCU uses its own lending criteria for making final loan decisions. 

8. Will the Credit Score tool share my credit score with HRCU?

   No, Credit Score is a free service to help you understand your credit health, how you make improvements in your score and ways you can save money on your loans with HRCU.

9. What if the information provided by Credit Score appears to be wrong or inaccurate?

   Our Credit Score tool 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 Credit Score credit report. 

10. Will accessing Credit Score's credit score ‘ping’ my credit and potentially lower my credit score?

    No. Checking your credit score is 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.

11. Does the Credit Score tool offer credit report monitoring as well?

    Yes. Credit Score will monitor and send email alerts when there’s been a change to your credit profile.

12. How do I change my email address or other personal information?

    If you access our Credit Score tool through your online banking, you don't have to do anything. Your email address will get updated automatically in Credit Score when you update it in online banking. 

     

13. How can I cancel my Credit Score account?

    There are three ways to cancel your account:

    • Through your online portal (see instructions below)
    • Notifying SavvyMoney at cancel at savvymoney dot com via email
    • Sending a letter in writing to SavvyMoney’s address: 4160 Dublin Blvd, Suite 250 Dublin, CA 94568
      • Please allow up to ten (10) business days after receipt of your notice for SavvyMoney to approve your request to cancel your account.

    To cancel your account online:

    • Login to online banking
    • Open the Credit Score tab
    • Click on Resources
    • Scroll to the bottom of the page and click “Deactivate Credit Score Account”