Financial Help • Beacon Credit Union

SavvyMoney

Take this 15 minute questionnaire to organize your information on income, debt, and expenses, and SavvyMoney will give you an easy to understand financial analysis of your current financial situation including: debt to income ratios, debt payment ratios, and a budget analysis. Along with strategies and products Beacon offers that can help you where you need it most.

>>Start my review now

Credit Sense

Because your credit score impacts so many aspects of your financial life, Beacon Credit Union has made it easier to monitor. Credit Sense, powered by SavvyMoney, is available in our Online Banking and Mobile Banking apps. This free service is designed to help you stay on top of your credit. The benefits of checking your score today include various abilities.

Receive monitoring alerts
Identify credit bureau errors
View best rates available for you based on your score
Receive tips on how to improve your score
Using Credit Sense monthly, weekly or even daily will not hurt your credit score
Use the Credit Score Simulator to test how your score might be affected by actions like paying of credit cards

FAQs

What is Credit Sense?

Credit Sense is a comprehensive Credit Score program offered by Beacon Credit Union, 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 Beacon Credit Union can help save you money.

What is Credit Sense Credit Report?

Credit Sense 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.

Is there a fee?

No. Credit Sense is entirely free and no credit card information is required to register.

How often is my credit score updated?

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 select “refresh score” as frequently as every day by navigating to the detailed Credit Sense site from within online banking.

How does the Credit Sense Credit Score differ from other credit scoring offerings?

Credit Sense 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: Equaifax, 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.

Will accessing Credit Sense ping my credit and potentially lower my credit score?

No. Checking with Credit Sense 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.

How do you get started with Credit Sense?

Accessing your credit score is fast and easy. Once you’ve logged into online banking or the mobile app, locate Credit Sense in the menu. To enroll, you must first answer a few questions to verify your identity, and then agree to the terms and conditions. After agreeing, your credit score will display each time you log in.

Money IQ

Think of Money IQ as a monthly online magazine full of educational videos and articles – a personal financial literacy and identity theft educational publication, for you, our valued members.

>>Visit Money IQ