Credit Score & Credit Reports Service

24/7 On-demand access to your Credit Score & Credit Report
This is a free service offered to WCTFCU Members, to help you:
+ manage your current credit score
get unlimited access to your full credit report
get credit monitoring alerts
+ understand how you can improve your score
+ identify possible errors in your report, and get them fixed
+ see ways you can save money on new & existing loans with us

Q. What is this resource? 
A.  A Credit Score, Report & Monitoring resource. A comprehensive Credit Score program offered by WCTFCU, that helps you stay on top of your credit. You can get your latest credit score and credit report, gain an understanding of key factors that impact the score, with suggestions for  the most up to date WCTFCU product offers - customized to your credit score, to help reduce your interest costs. A new score is available daily - just click on Refresh Score to check it as often as you'd like! There is no impact to your credit score! With this program, you always know where you stand with your credit and how WCTFCU can help save you money. Visit your online banking at least every 120 days to maintain your access to this service.

Q. What are Credit Alerts?
A. Monitoring helps you keep an eye out for identity theft. This service monitors your credit report daily. Alerts inform you by email if there are any big changes detected such as a new account being opened, a change in your address or employment, a reported  delinquency, or if an inquiry has been made on your credit. 

Q. What is in this Credit Report?
A. This 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 can see details on your payment history, credit utilization and any public records that show up on your account. As with your Credit Score, when you check your Credit Report through this service, there will be no impact to your credit score. 

Q. Is there a fee?
A. No. This is entirely free to WCTFCU online banking Members.

Q. How often is my credit score updated?
A. As long as you are a regular online banking user (visit your online banking at least 1x/120 days), your credit score will be updated every month, and automatically displayed in your online banking screen. Plus, for on-demand access to your latest score click Refresh Score as frequently as every day. 

Q. How does this Credit Score differ from other credit scoring offerings?
A: This score service (SavvyMoney) pulls your credit profile from TransUnion, one of the 3 major credit reporting bureaus. It uses VantageScore 3.0, a credit scoring model developed collaboratively by the 3 major credit bureaus: Equifax, Experian, and TransUnion. This model seeks to make score information more uniform between the 3 bureaus to provide consumers a better picture of their credit health.

Q: Why do credit scores differ?
A: There are 3 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

Q: Will WCTFCU use this Credit Score to make loan decisions?
A: No, WCTFCU uses its own lending criteria for making loan.

Q: Will this system share my credit score with WCTFCU?
A: No, this is just a free service to help you, our Member, to better understand your credit health, proactively make improvements in your score, and identify ways you can save money on your loans, credit cards, etc.

Q: How is my Credit Score information kept secure?
A: This system 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. 

Q: Why does WCTFCU offer this Credit Score & Report service?
A: For educational and financial security reasons! This service can help you protect and manage your credit so that when you want to borrow from WCTFCU for a big-ticket purchase — like a home, home-repairs, a car or paying for school. You will have a clear picture of your credit health and you will know when you can qualify for the lowest possible interest rate. You’ll also see offers that can save you money on your new and existing loans.

Q: What if the Credit Score or Credit Report information appears to be wrong or inaccurate?
A: This offering makes its best effort to show you the most current, relevant information from your credit report. If you think that some of the information is wrong or inaccurate, within this system simply click on File A Dispute to contact TransUnion and request a correction. If you are proven to be correct, TransUnion will make the correction and contact the other 2 bureaus with the correction so that they may make the same adjustment. Each bureau has its own process for correcting inaccurate information.

The Federal Trade Commission website offers step-by-step instructions on how to contact the bureaus and correct errors.

Q. How do I get all of my Credit Reports?
A: We encourage you to take advantage of obtaining free credit reports, annually, from, and to pursue each bureau individually. 

Q. I want a quick & easy lesson in Credit? 
A. Visit our Money-Wise! section for a quick-learn video, or to review simple, easy to follow materials.

Q: There is a section on the Credit Score & Reports page that features WCTFCU product offers, and financial education articles. Why am I seeing this?
A: Based on your Credit Score information, you may receive suggested WCTFCU 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 are designed to provide helpful tips on how you can manage credit and debt wisely.

Q: Will accessing my Credit Score ‘ping’ my credit and potentially lower my credit score?
A: No. Checking your Credit Score through this system 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. 

Q: Is there Credit Report Monitoring & Alerts as well?
A: Yes. This offering will monitor your credit report, and send you a secure email alert if/when there has been a change to your credit profile.

Q. How do Members change their email address or other personal information?
 A: You can update your email address and other personal information in your online banking profile. If you need assistance, please call us during business hours.

Q: Can I access my Credit Score & Credit Report from my smartphone & tablet, as well as from my computer?
Yes, as with your online banking, all of this is available via mobile phone, tablet & desktop devices. It is integrated inside the WCTFCU App as well.

How is a Credit Score Calculated?

These are the factors considered by the Credit Score agencies, in the calculation of your credit score. Also noted is the level of importance of each factor.

Factor                                                                                            % Importance     

Payment History (how often you pay your creditors on time)               35%
Amounts Owed (total amount you owe all your creditors)                    30%
Length of Credit History (how long your credit has been established) 15%
Credit Mix (how many different types of credit you have)                     10%
New Credit (any credit lines you opened within the last two years)      10%

To improve your score:
1) Make on-time payments every month. Payment history is the biggest determining factor of your credit score.

2) Try to carry little to know balance on credit cards, but be sure to use them in, as this too affects one's credit as a card may be cancelled for lack of use which could affect the overall amount of credit availed to you.

3) Keep amounts owed low. Credit utilization (or amounts owed) is the percentage of credit you’re using of all the credit you have available. For example, if you own one credit card with a credit line of $5,000 and you have a balance of $1,000, your credit utilization rate is 20%. It is best to keep your overall credit utilization below 30% max. Also, if you have a number of credit cards, it is better to keep a low balance on a couple or a few of them, than to max out one of them.

Requesting a higher credit line to lower the denominator in the formula can help.

Credit Pro-tip: Only accept credit cards that have a low, fixed interest rate (APR, annual percentage rate) and no annual fee, and do not charge fees for balance transfers & cash advances. For Visa Credit Cards like this, visit the Compare our Credit Cards page on this website & watch our Video.

Content includes material sourced from