SavvyMoney Credit Score | Resources | DMCU (2024)

FAQs

Is SavvyMoney credit score accurate? ›

A: The SavvyMoney Credit Score is not intended to be comprehensive and may not provide all information about user accounts. That's why we encourage them to take advantage of obtaining free credit reports from www.annualcreditreport.com to look for any incorrect information or discrepancies across all three bureaus.

Plus, checking your credit score with Credit Savvy won't impact your score.

Payment history is weighed the most heavily in determining your credit score, along with your total outstanding debt. Generally, the required credit score for a personal loan is at least 580. To qualify for a lender's lowest interest rate, borrowers typically need a score of at least 800 and a high income.

No. SavvyMoney is entirely free and no credit card information is required to register. This answer has been viewed 2721 times.

SavvyMoney 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.

A: SavvyMoney 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.

While some personal loan lenders allow you to apply with a very low credit score, many require a minimum credit score of 660 or 700 to be considered for a $3,000 personal loan. Generally, the higher your credit score, the less interest you will pay.

The main factor in determining if you qualify for a $10,000 personal loan is your credit history. You'll need a credit score of at least 670 before you apply. Lenders look at your debt-to-income ratio when deciding approval. A DTI ratio of 36% or lower is ideal.

Upstart Overview

Upstart may offer you a loan even if you have poor credit, generally a score below 580. Of course, if you have a low credit score, you won't get the best interest rates Upstart has to offer. Upstart works with many different banks behind the scenes to fund its loans.

SavvyMoney is a comprehensive Credit Score program offered by your financial institution, that helps 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.

Is SavvyMoney free? ›

SavvyMoney is entirely free, and no credit card information is required to register. You can pull your updated credit score up to every 24 hours by clicking “Refresh Score” in the SavvyMoney section of Online Banking. An updated full credit report is available monthly.

SavvyMoney's top competitors include Wadaie, Array, and QCash Financial.

The primary credit scoring models are FICO® and VantageScore®, and both are equally accurate. Although both are accurate, most lenders are looking at your FICO score when you apply for a loan.

They will accurately reflect your credit history as it appears on the credit report upon which the score is based. To reiterate, however, the credit score your bank provides for free may not be the same one a lender will use when considering your application for credit.