Now available on FSU Credit Union’s Mobile Banking App and Online Banking.
SavvyMoney is now available at Florida State University Credit Union!
SavvyMoney is a free service offered to help you understand your current credit score, give access to your full credit report, provide credit monitoring alerts, show you how you can improve it, and see ways you can save money on new and existing loans with us. Set up credit alerts, access your credit report, and learn new ways to improve your credit score!
Frequently Asked Questions
New Credit Score Simulator!
SavvyMoney is a comprehensive credit score program offered by your financial institution, 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.
SavvyMoney 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, a 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.
With the most recent update, members can now use SavvyMoney to:
- View their accounts breakdown
- View their primary credit card usage
- Easily access their credit score and report through a more user-friendly, mobile-first site
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. Like SavvyMoney, when you check your credit report, there will be no impact to your score.
No. SavvyMoney is entirely free and no credit card information is required to register.
Practice applying for new credit before you apply! Three choices are available to you to estimate your new credit score after changes to your credit: Applying for New Credit, Manage Your Balance, and Manage Payment Activity. Simply type in your expected new loan or credit card limit and see how it affects your score!*
*The simulations are hypothetical; they do not predict or guarantee that your actual score will rise or drop to the simulated score, nor do they guarantee that you will be approved or rejected for credit by any financial institution. Entering data into the Simulator does not affect your actual score.
SavvyMoney uses enhanced encryption and security measures to keep your data safe and secure. Your personal information is never shared with or sold to a third party.
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 SavvyMoney site from within online banking.
SavvyMoney 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.
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:
Bad Below 500
No, FSU Credit Union uses its own lending criteria for making loan decisions.
No, your SavvyMoney 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 FSU Credit Union.
SavvyMoney can help you manage your credit so when it comes time to borrow for a big-ticket purchase—like buying a home, a 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 FSU Credit Union.
The SavvyMoney 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. However, The Federal Trade Commission website offers step-by-step instructions on how to contact the bureaus and correct errors.
Based on your SavvyMoney information, you may receive FSU 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 SavvyMoney team, are designed to provide helpful tips on how you can manage credit and debt wisely.
No. Checking SavvyMoney 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.
Yes. SavvyMoney will monitor and send email alerts when there’s been a change to your credit profile.
If you access SavvyMoney program through your online banking, you have to do nothing! Your email address will get updated automatically in SavvyMoney when you update it in online banking. However we always encourage you to inform your financial institution of any contact information updates.
If you signed up with SavvyMoney from our website, please log into the website and click on your name displayed on top right of the screen. Select the Profile link from the drop down, and follow instructions to update your information.
Yes, SavvyMoney is available for both mobile and tablet devices and is integrated inside our mobile application.