CreditWise, found online at CreditWise.CapitalOne.com, is a new service from credit provider CapitalOne 360 which helps people to monitor their credit, whether or not they are a CapitalOne customer.
How Does It Work?
According to their website, understanding your credit score is one of the most important factors toward improving your financial health and achieving good financial stability.
Unfortunately, most people don’t understand their credit score and don’t really want to pay for a service that gives them their credit score and explains why it is what it is.
CapitalOne wanted to change this by providing people with a service that everyone could use to improve their credit score and financial understanding.
As a member of CreditWise, you will receive your TransUnion credit score, as well an explanation of the key factors that impact your credit score.
As a CreditWise member you will be able to review your existing credit report for signs of error, theft, or fraud, and if you something looks wrong to you, they will help you understand what to do next.
In addition, you will receive email alerts whenever your TransUnion credit report changes, including recent inquiries, delinquent accounts, and more.
But one of the most unique features of this company and service is that they provide their members with a credit Simulator. This Simulator allows you to understand the impact of your financial decisions before you make them.
What will opening or closing a credit card do to your score? What about making a new big charge, or paying off a large amount? CreditWise aims to tell you what to expect.
Currently this mobile application is available as a free download for both iOS and Android devices and smart phones, as well as is available through website through any internet connected device.
Cost & Price Plans
Their website is very proud to offer all of their features and services to all customers – including those that are not CapitalOne credit card holders – completely for free.
This company does offer many other services that might be paid services, but these are separate from CreditWise.
Because this company does not charge their members any fees for the information they provide, they also do not provide their members with any information regarding a Refund Policy at this time.
If you make the independent decision to purchase any services from CapitalOne after you have worked with CreditWise, you will need to speak to their Customer Service team regarding any questions or concerns you have.
Customer Service Contact Info
Customers who would like to contact Customer Service with any questions, concerns, or complaints can do so by phone at 877-383-4802 to speak to the general CapitalOne Customer Service team.
In general this service appears to be both applauded and well-respected within the financial community as being a wonderful way for people to keep track of their credit score and how their future financial decisions will affect it.
It is important that people understand that this service is powered by TransUnion, one of the three major credit agencies, and that people should be taking time throughout the year to also track their Experian and Equifax.
In addition, because this service only provides information about a single agency’s report, customers need to understand that this is not their FICO score, which is a different type of credit score that customers will need to check when they are ready to make a large purchase, such as buying a house.
Competitors and Alternatives?
There are many different services that attempt to help people understand their credit score and how to improve it, as well as many different services that want to help people find and track their current credit score.
That being said, most of these services work in very limited time frames, and CreditWise stands out from the pack because they allow their members to check their score whenever they choose.
If you have any experience with CreditWise or their services, please leave your reviews below.
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CreditWise Customer Reviews
Sort Reviews By:
Bogus and Inaccurate Scoring
Not accurate information.
Significant drop in credit score
All payments on time. No new business or credit checks and my score drops 75 points. EXPLAIN THAT!!!!!!
Equifax has my score at 150 points higher. EXPLAIN THAT!!!!!
All payments on time, no new business and my score dropped 75 points. EXPLAIN THAT!!!!
FYI...Equifax has me at 150 points higher. EXPLAIN THAT!!!!!