SavvyMoney
Get the Scoop on Your Credit Score!
what is savvymoney?
SavvyMoney is a program that helps you monitor your credit. It tells you not only your current credit score, but it also reveals what is on your report at any given time. Furthermore, it helps you learn what impacts your credit score and shows you how to take advantage of offers that lower your interest rates on loans you may have outstanding. Not only does SavvyMoney allow you to safely check your credit report at any time, but it also alerts you to events such as a change of address or employment, a new account being opened, a delinquency or an inquiry. If you haven’t made the changes, you can report the issue to the proper authorities immediately.
Are you ready to be money smart? With SavvyMoney you get:
Free Credit Score - With the SavvyMoney credit program, you can get your latest credit score, an understanding of key factors that impact the score, and see the most up-to-date offers that can help reduce your interest costs. You can track your credit score daily, and your score will never be negatively affected.
Full Credit Report - You will also get a full credit report once a month, including all the information you would find on your credit file such as 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.
Credit Monitoring - The SavvyMoney credit program 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 you keep an eye out for identity theft.
Score Simulator - Financial decisions cause your score to move up or down. Simulate your credit score by selecting actions you might take and see how your score reacts. Use the interactive tool to simulate credit or loan applications, balance transfers, credit inquiries, missed and on-time payments, credit pay-offs, and more.
Take a deep dive into your score
Whether you plan to make a big purchase in the near future or take out a loan, it's important to think about and understand your credit score. Taking the time to familiarize yourself with how credit scores are calculated is the first step in getting a strong score.
Consistently making payments on time can help boost your score.
Capacity. This is one of the areas where the less you use of your total available credit, the better. If you get close to maxing out all your credit cards or lines of credit, it tanks your score, even if you’re making your payments on time.
Length of credit. Establishing and following good credit habits over a long period of time can help raise your score.
Opening new credit cards (this includes retail credit cards) has a short-term negative effect on your score, so don’t open a whole bunch at once!
How to Enroll
When logged in to online banking:
Click on the “Credit Score & Report” box on right
Accept the terms & enjoy!
When logged in to our Mobile app:
Click on the 3 horizontal lines in the upper left
Click on “Credit Score”
Accept the terms & enjoy!
How to Check Your Credit Report:
The SavvyMoney program is built right into our easy-to-use platform, so you don’t need a new login. Follow these instructions:
Login to your home banking
Click on “Get My Credit Report” to get started
Your credit score and credit report are waiting for you
SavvyMoney FAQs
Is savvymoney free?
Yes! 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.
what credit bureau does savvymoney use?
SavvyMoney uses TransUnion and the VantageScore 3.0 credit score model to help determine your credit score. This model was developed 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.
is my information safe with savvymoney?
Yes. SavvyMoney uses industry-standard security practices to protect your data. Your personal information is never shared with or sold to a third party.
will accessing my savvymoney credit score ping my credit and potentially lower my credit score?
No. Checking your SavvyMoney credit score is a soft inquiry, which does not affect your credit score. Lenders use hard inquiries to make decisions about your creditworthiness when you apply for loans. SavvyMoney does provice tips and suggestions on how you can improve your score over time.
why do i see product offers and financial education articles in the savvymoney sction of online banking?
Based on your SavvyMoney credit score information, you may receive offers on Our 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 SavvyMoney team, are designed to provide helpful tips on how you can manage credit and debt wisely.
will the credit union honor my savvymoney credit score for loan applications?
No, Your SavvyMoney credit score may differ from the credit score model used by the credit union to make loan decisions. The Savvy Money Credit Score is an indicator of your overall credit but should not be relied upon to determine loan eligibility or pricing from Eastern Indiana Federal Credit Union.
Will the credit score show for all owners of the account?
No. The score displayed is the current score of the primary account owner with Eastern Indiana Federal Credit Union.
what if some information on my credit report appears to be wrong or inaccurate?
The SavvyMoney credit program 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 SavvyMoney Credit Report. The Federal Trade Commission website offers step-by-step instructions on how to contact the bureaus and correct errors.