SavvyMoney® Credit Score
Your Credit Score and More. Anytime. Anywhere.
Staying on top of your Credit has never been easier!
With one powerful tool, access your credit score, full credit report, credit monitoring, financial tips, and education.
You can do this ANYTIME and ANYWHERE and for FREE.
With SavvyMoney® You Have Access To:
- Daily Access to your Credit Score
- Real-Time Credit Monitoring Alerts
- Credit Score Simulator
- Personalized Credit Report
- Special Credit Offers
- And More!
Keep your credit score front and center.
Tracking your credit score is easier than ever—it can now be displayed right on your Digital Banking dashboard. By staying in touch with your score, report and monitoring updates, you put yourself in the best position to truly discover financial freedom.
What Can You Do With SavvyMoney®
Get Started With SavvyMoney®
Take control of your financial health and access all the necessary resources to stay on top of your credit. You can do this anytime and anywhere for free.
Log In
Log into Digital Banking through your web browser or through the WyHy App on your phone.
Locate
Located on your accounts dashboard, click on “Credit Score"
Enroll
Enroll in SavvyMoney® to view your credit report and to get started.
Frequently Asked Questions
What is a Credit Score?
A credit score is a three-digit number calculated to indicate your creditworthiness. The higher the score, the more creditworthy you are to a lender. A credit score is calculated from the information in your credit report and considers your on-time payments, the length of your payment history, your mix of different types of credit accounts, and other such factors. It is important to know that your score does not take your age, income, employment, marital status, or your bank account balances into account.
You can learn more about credit scores and scoring models from the Consumer FinancialConsumer Financial Protection Bureau website: https://www.consumerfinance.gov/ask-cfpb/what-is-a-credit-score-en-315/
What Factors Influence My Credit Score?
Five major categories make up a credit score:
40% Payment History
Essentially, lenders want to know whether you’re good about paying your loans on time.
23% Credit Usage
Credit usage, also known as credit utilization, is the ratio between the total credit used and your total credit limit on your revolving accounts. It is best to keep your credit usage below 30%.
Credit usage, also known as credit utilization, is the ratio between the total credit used and your total credit limit on your revolving accounts. It is best to keep your credit usage below 30%.
21% Credit Age
The average of your oldest open credit accounts to your newest open credit accounts determines your credit age. In general, the longer your credit history the better, particularly accounts with a good payment history and no late payments.
11% Credit Mix
It’s important to have a mix of different types of credit like revolving credit and installment loans.
Your score will likely be higher if you have a good payment history with both, installment loans, like student loans and mortgages, and revolving credit, like credit cards.
5% Inquiries
Any time you apply for a credit card, or a lender checks your credit for a loan, it’s known as an inquiry. Hard inquiries show on your credit report when your credit is pulled by a lender for a car loan, mortgage, or credit card. However, soft inquiries don’t show on your credit report and occur when you check your credit, or a lender pre-approves you for an offer.
Applying for several credit cards or opening multiple credit accounts in a short period creates hard inquiries and could signal an increased credit risk to a lender.
How can SavvyMoney help me?
Tools offered by SavvyMoney include:
- A free credit score
- Personalized analysis of each component of your score
- Clear, simple explanations of factors impacting your score
Is it really free?
There is no cost to you whatsoever for the SavvyMoney credit score services or products provided by the Credit Union.
Is my information safe?
SavvyMoney uses industry-standard security practices to protect your data.
Does using this affect my credit score?
Utilizing the services or products offered by SavvyMoney will never directly impact your credit score. When SavvyMoney accesses your credit file information, it results in a “soft inquiry” that doesn’t alter your score in any way.
Will WyHy Honor my SavvyMoney credit score for loan applications?
While your SavvyMoney credit score may differ from the scores we get from the credit bureaus, our goal is to provide you with the best offer we can. If your SavvyMoney score is different than the score we have, simply print out your score and let us know. We will review your information and determine if there is a better offer we can provide you.
As it relates to all first mortgage loans (with the exception of a Home Equity Loan or Home Equity Line of Credit), we cannot use your SavvyMoney credit score for pricing or underwriting consideration.
These services are provided by SavvyMoney, Inc. and do not represent any agreement by WyHy to provide any product, service, or other benefit. Information provided by SavvyMoney, Inc. is for educational purposes only and is intended to assist you in better understanding the factors that influence your credit score. It is not used for Loan approval purposes, or for determining loan rates. Loan rates and approvals are based on information provided to the credit union when you apply for a loan. The credit score you may see from SavvyMoney may be different from the credit report WyHy may run and will not be used at a specific time when making a request with WyHy for products requiring a credit score. Terms and conditions are subject to change at any time. Enrollment in online banking and SavvyMoney required. Must be a WyHy member to enroll.