Is SavvyMoney credit score accurate?

Asked by: Guido Connelly  |  Last update: February 9, 2022
Score: 4.9/5 (32 votes)

SavvyMoney uses VantageScore 3.0, which pulls data from the three major credit bureaus — TransUnion, Equifax and Experian, rather than just one. This provides a more accurate picture of your credit history.

What credit score does SavvyMoney use?

SavvyMoney pulls your credit profile from TransUnion and uses VantageScore 3.0, a credit scoring model developed collaboratively by the three major credit bureaus: Equifax, Experian, and TransUnion.

Is SavvyMoney Inc legit?

SavvyMoney Reviews FAQs

75% of SavvyMoney employees would recommend working there to a friend based on Glassdoor reviews. Employees also rated SavvyMoney 3.7 out of 5 for work life balance, 4.4 for culture and values and 3.7 for career opportunities.

Which credit score is most accurate?

The most accurate credit scores are the latest versions of the FICO Score and VantageScore credit-scoring models: FICO Score 8 and VantageScore 3.0. It is important to check a reputable, accurate credit score because there are more than 1,000 different types of credit scores floating around.

Is NerdWallet safe for credit score?

We use industry-standard security controls, such as cryptography, to protect your personally identifying information. ... You can sign in to NerdWallet anytime to see your free credit score, your free credit report info and more. NerdWallet only pulls your credit score with your permission.

Check Your Credit Score with SavvyMoney!

44 related questions found

Should I trust NerdWallet?

Yes, NerdWallet is safe. They are also a reliable site and app. ... When it comes to protecting consumers' information, NerdWallet does not store bank passwords or credentials. NerdWallet uses industry-standard controls to keep personal information safe and secure.

Are NerdWallet scores accurate?

To answer the question, they are accurate for the model they are based on but few creditors will actually use those scores.

How do I correct my FICO score?

However, there are steps you can take to fix your credit that we outline below.
  1. Check Your Credit Score & Report. ...
  2. Fix or Dispute Any Errors. ...
  3. Always Pay Your Bills On Time. ...
  4. Keep Your Credit Utilization Ratio Below 30% ...
  5. Pay Down Other Debts. ...
  6. Keep Old Credit Cards Open. ...
  7. Don't Take Out Credit Unless You Need It.

Is FICO score accurate?

FICO Scores are used by 90% of top lenders to make decisions about credit approvals, terms, and interest rates. ... FICO Scores are trusted to be a fair and reliable measure of whether a person will pay back their loan on time.

Is Experian usually the lowest score?

Credit scores help lenders evaluate whether they want to do business with you. The FICO® Score , which is the most widely used scoring model, falls in a range that goes up to 850. The lowest credit score in this range is 300. But the reality is that almost nobody has a score that low.

Is SavvyMoney free?

It's free! Already have an account? Sign In. By signing up with SavvyMoney, you agree to our Terms of Service and Privacy Policy.

Does SavvyMoney cost money?

Is there a fee? No. SavvyMoney is entirely free and no credit card information is required to register.

Who owns SavvyMoney?

“We are excited that so many financial institutions have trusted SavvyMoney to be their credit score, personalized loan offer, and analytics marketing solution,” said JB Orecchia, CEO and President of SavvyMoney.

What is a good FICO score to buy a house?

It's recommended you have a credit score of 620 or higher when you apply for a conventional loan. If your score is below 620, lenders either won't be able to approve your loan or may be required to offer you a higher interest rate, which can result in higher monthly payments.

Should I enroll in FICO score?

In short, it puts a number on the likelihood that you'll pay back your loan. Your credit score can help a lender decide whether to charge you higher interest rates on, say, a mortgage, than it would charge if you had a better score. ... You'll be eligible for credit at lower interest rates, a potentially big money-saver.

Do lenders use FICO score or credit score?

The two main companies that produce and maintain credit scoring models are FICO® and VantageScore. Lenders most commonly use the FICO® Score to make lending decisions, and in particular, the FICO® Score 8 is the most popular version for general use.

What if my credit score is wrong?

If you identify an error on your credit report, you should start by disputing that information with the credit reporting company (Experian, Equifax, and/or Transunion). You should explain in writing what you think is wrong, why, and include copies of documents that support your dispute.

How can I raise my FICO score in 30 days?

  1. 8 things you can do now to improve your credit score in 30 days. ...
  2. Get a copy of your credit report. ...
  3. Identify the negative accounts. ...
  4. Dispute the negative items with the credit bureaus. ...
  5. Dispute Credit Inquiries. ...
  6. Pay down your credit card balances. ...
  7. Do not pay your accounts in collections.

Does NerdWallet use FICO?

When you or a lender "check your credit," a scoring model from either FICO® or VantageScore® is applied to the current data in one of your credit reports. ... NerdWallet uses VantageScore® 3.0 and your TransUnion® credit report data. Most lending decisions are made using the FICO® model.

Is NerdWallet better than Credit Karma?

In terms of providing information about your credit score and how you might improve it, the two sites are fairly comparable, though Credit Karma offers a superior user experience. It also contains scores and reports from two reporting agencies, NerdWallet is restricted to one: TransUnion.

What is better than NerdWallet?

10 Best NerdWallet Alternatives in 2021
  • The 10 Best NerdWallet Alternatives and Competitors.
  • Bankrate.
  • The Balance.
  • SmartAsset.
  • The Points Guy.
  • ValuePenguin.
  • The Penny Hoarder.
  • WalletHub.

Who runs NerdWallet?

In 2009, Tim and co-founder Jake Gibson started NerdWallet with a goal to bring clarity to all of life's financial decisions. Since then, he's been busy as CEO of NerdWallet, helping inspire our Nerds to bring clarity to personal finance.

How popular is NerdWallet?

Today, Tim Chen is CEO and co-founder of personal finance website NerdWallet, which sees 10 million monthly visitors and is valued at more than $500 million.