Credit Score Feature
Check your credit score for free!
Your credit score is one of your most important numbers and now within Consumers' Online Banking, you can check it every day for free! Checking monthly, weekly or even daily won't hurt your score through our feature. Simply log in for instant access to your credit score and report, along with personalized tips on how to improve your score or maintain an already great one.Frequently Asked Questions
- Receive daily credit monitoring with alerts for major changes,
- Identify credit bureau errors,
- Understand the factors that impact your score, and
- Work toward your financial goals!
- Log in to Online Banking.
- First time users should click on the “Get My Credit Score” Dashboard widget.
- When prompted, accept the disclosures and press “Continue”.
- The widget will continue to appear every time after you log in to Online Banking.
Frequently Asked Questions
What is the credit score feature?
Your credit score feature is a comprehensive program offered by Consumers 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. With this program, you always know where you stand with your credit and how your financial institution can help save you money.
Your 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, a delinquency has been reported or an inquiry has been made. Monitoring helps users keep an eye out for identity theft.
What is the credit report section?
Your 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. When you check your credit report, there will be no impact to your score.
Is there a fee?
No. This service is entirely free and no credit card information is required to register.
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 site from within Online Banking.
How does the credit score feature differ from other credit scoring offerings?
Our service 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.
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.
Will Consumers use this credit score feature to make loan decisions?
No, Consumers Credit Union uses its own lending criteria for making loans.
Will this service share my credit score with Consumers?
No, the credit score feature 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 Consumers Credit Union.
How does the credit score feature keep my financial information secure?
The service 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.
If the credit union doesn’t use this feature to make loan decisions, why do we offer it?
The credit score feature can help you manage your credit so when it comes time to borrow for a big-ticket purchase—like 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 Consumers.
What if the information provided by the credit score feature appears to be wrong or inaccurate?
The service 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 report feature. However, The Federal Trade Commission website offers step-by-step instructions on how to contact the bureaus and correct errors.
Why do I see a section that features both Consumers' product offers and financial education articles?
Based on your information, you may receive Consumers Credit Union offers on products that may be of interest to you. In most cases, these offers may have lower interest rates than the products you already have. The educational articles, written by Jean Chatzky and the credit score team, are designed to provide helpful tips on how you can manage credit and debt wisely
Will accessing the credit score feature ‘ping’ my credit and potentially lower my credit score?
No. Checking your credit score through this feature 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.
Does this service offer credit report monitoring as well?
Yes. The credit score feature will monitor and send email alerts when there’s been a change to your credit profile.
How do I change my email address or other personal information?
Your contact information (i.e, email address) will get updated automatically when you update it in Online Banking.
Can people use this feature on mobile devices?
Yes, the credit score feature is available for both mobile and tablet devices and is integrated inside our mobile application.