SavvyMoney
Wymar offers you the SavvyMoney free credit score and credit monitoring tool – now available inside Mobile or Online Banking!
What Makes Up Your Credit Score?
Do you know what factors affect your credit score? First, your credit score is a number between 300 and 850, which determines how likely you are to pay back the money you might borrow for a loan.
Understanding your score may be a little daunting, but with SavvyMoney, you get total insight into the factors that affect your score and tips to help you improve it.
What Factors Effect Your Credit Score
40% is Payment History (Do you pay your bills on time?)
23% is Credit Utilization (How much debt do you have?)
21% is Account Age (The longer, the better.)
11% is Mix of Credit (You want to show you can handle a mix of loan types.)
5% is Recent Activity (Applying for credit recently.)
Why is Understanding and Improving Your Credit Score So Important?
A good indicator of financial responsibility
More likely to get approved for a loan
It saves you money over time
Lower interest on loans
Lower insurance premiums
Use these tools to your advantage and enroll in Credit Score in your online and mobile banking for FREE today!