SavvyMoney | Rize Credit Union

What’s SavvyMoney?

SavvyMoney is a free credit score tool available through digital banking that helps you stay on top of your credit and spot opportunities to save. You’ll see your latest credit score, get insight into what’s impacting it, and view personalized offers that could lower your interest rates or monthly payments.

SavvyMoney also provides daily credit report monitoring and sends alerts when changes are detected – like new accounts, address updates, reported delinquencies, or credit inquiries. It’s a simple, secure way to watch your credit and protect against identity theft – all at no cost to you.

Does SavvyMoney offer credit report monitoring?

Yes! Once you’re enrolled, SavvyMoney monitors your credit report daily and sends email alerts whenever there’s a change – such as a new account, credit inquiry, or update to your profile. You’ll also see real-time updates on your digital banking dashboard, making it easy to stay informed and watch for signs of fraud.

Tip: You can manage your alert preferences by logging into digital banking, opening SavvyMoney, and adjusting your notification settings to fit your needs.

Is there a fee to use SavvyMoney?

No – SavvyMoney is completely free for Credit Union members. There’s no cost to enroll, and you won’t need to provide any credit card information to get started. Just log in to digital banking to access your credit score, report insights, and personalized offers – anytime!

How does SavvyMoney differ from other credit score offerings?

SavvyMoney pulls your credit profile from TransUnion, one of the three major credit bureaus, and uses the VantageScore model – a scoring system developed by TransUnion, Equifax, and Experian.

Unlike some tools that use varying models or limited data, VantageScore provides a more consistent view of your credit across all three bureaus – giving you a clearer picture of your credit health.

Bonus: Your score is updated weekly, so you’ll always have access to the most current information available – without it affecting your credit.

Will accessing SavvyMoney affect my credit score?

No – SavvyMoney only uses soft inquiries, which means checking your credit through the service won’t impact your credit score.

Soft inquiries are for your personal use and won’t be seen by lenders. In contrast, hard inquiries – like those made when you apply for a loan or credit card – can affect your score. With SavvyMoney, you can check your score as often as you’d like, worry-free.

What if the information provided by SavvyMoney appears to be incorrect?

SavvyMoney pulls data directly from your TransUnion credit report and does its best to present accurate, up-to-date information. If something looks off, we recommend:

Visiting AnnualCreditReport.com to request a free copy of your credit reports from all three major bureaus (TransUnion, Equifax, and Experian)
Reviewing your reports for discrepancies
Using the dispute link within SavvyMoney to start the dispute process with TransUnion
Visiting the Federal Trade Commission (FTC) website for step-by-step guidance on how to contact each bureau and correct errors

Each bureau has its own process, but every consumer has the right to challenge and correct inaccurate information. Staying informed is the first step to protecting your credit!

Will the Credit Union use SavvyMoney to make loan decisions?

No – we use our own lending criteria when making final loan decisions. While SavvyMoney can show you estimated savings opportunities based on your credit profile, any actual rates, terms, and payments will be determined when you apply.

Think of SavvyMoney as a helpful tool to explore your credit health – not a final decision-maker. It’s a great way to see where you stand and how you might save, but the real numbers come at application time.

Why offer SavvyMoney if it’s not used for loan decisions?

SavvyMoney is a tool to help you understand and manage your credit so you’re better prepared when it’s time to borrow – for a car, home, college, or anything big. By tracking your credit health, you’ll be in a stronger position to qualify for the best possible rates. You’ll also see personalized savings offers on new and existing loans based on your credit profile.

Why do credit scores differ?

Credit scores can vary because there are three major credit bureaus – Equifax, Experian, and TransUnion – and multiple scoring models, such as FICO and VantageScore.

Lenders may use different bureaus and models, and each model weighs over 200 credit factors differently – like payment history, credit use, or account age. So while scores may not match exactly, they should still be directionally similar.

Tip: To get a well-rounded view of your credit health, it’s a good idea to check all three credit reports regularly. You can request a free copy from each bureau once a year at AnnualCreditReport.com.

What’s the Score Simulator tool?

The Score Simulator is an interactive feature in SavvyMoney that lets you explore how different financial actions might impact your credit score. For example, you can see how your score could change if you pay off a credit card, take out a loan, or miss a payment.

It’s a safe way to plan ahead – using the simulator won’t affect your actual credit score, so you can try different scenarios without any risk.

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