What is My Credit Manager?
A full suite of credit tools to help you build up your credit goals. You can see credit score, credit score history for past 12-months, insight into debt tradelines, calculate debt-to-income ratio, utilize a score simulator, and receive alerts based on changes to your credit profile.
How do I sign up for My Credit Manager?
- You may need to add My Credit Manager to your dashboard. To do this, select Organize dashboard from the bottom of your dashboard and choose Add a card.
- Once it’s added, select See more and follow the on-screen instructions to complete the enrollment process.
How frequently is my overall credit score updated?
Your credit score is updated completely every 30 to 45 days.
Will my credit score history build over time in the app?
Yes, as time goes on, you will see a score history build in the credit overview.
If my spouse and I share lines of credit, mortgages, or loans, will I be able to access their information?
You and your spouse can see the information from all shared accounts, but having some shared accounts doesn’t allow you or them to access information about any non-shared financial accounts such as delinquencies on non-shared accounts or information from your spouse’s credit report such as their credit score or past non-shared home addresses.
Does using My Credit Manager affect my credit score at all?
Utilizing the features within My Credit Manager will not change your credit score.
Why is my score different from other scores I see on other banking apps?
The three main credit bureaus, Equifax, Experian, and TransUnion, each utilize their own scoring models and collect data independently. Because they source information from varied providers and at diverse times, inconsistencies between the credit reports furnished by these bureaus are common.
Why do the reported dates differ between accounts? Does that mean my score isn’t up to date?
Lenders generally update their data on a monthly basis. However, the lenders may report data at various times during the month. The differences in reporting dates shouldn’t vary by more than 30 days. If you’re waiting for a specific update, such as corrected information from a dispute, note that it can take up to 45 days for the updated information to appear on your credit report.
How are the simulated scores calculated?
Credit Score Simulator uses calculations that are similar to Experian, which uses the VantageScore model.
How accurate are the score simulations?
Credit Score Simulator is an educational tool that you can use for estimating the effect of certain financial actions on your credit score—but remember, they’re estimations only, not predictions. Actual results may be different.
Is it possible for a minor to register?
No, users under 18 will return an invalid response and are not able to enroll
Can I enroll if I have no or limited credit history?
- If you have no credit, you will not be able to complete enrollment as there's nothing to validate against with the credit bureau.
- If you have a few credit items, it might still be difficult or you might have limited information accessible when you register.
- If you are receiving an error while attempting to enroll, you can check annualcreditreport.com to see if you have a credit file.
How do I un-enroll from My Credit Manager?
To un-enroll, go to Credit Alerts scroll down, select “Unenroll My Credit Account”.
How is my credit score calculated?
In addition to calculating credit scores themselves, the three major credit bureaus, Equifax, Experian, and TransUnion, provide detailed information about a consumer’s credit activity to other companies that calculate a credit score.
VantageScore 3.0 considers the following when calculating your score
- Payment history (41%) Repayment behavior, such whether you pay on time or have delinquencies.
- Age of credit (20%) How long you’ve been using credit.
- Utilization (20%) The ratio between available credit and used credit.
- New credit (11%) The number or recent accounts opened plus credit inquiries (hard inquiries).
- Balance (6%) Total amount of reported debt.
- Available credit (2%) Amount of credit available.\
- VantageScore categories:
- 300 – 600: Subprime
- 601 – 660: Near prime
- 651 – 780: Prime
- 781 – 850: Superprime
How do I improve my credit score?
To improve your credit score, ensure timely payments, reduce account balances, apply for new credit cards sparingly, and dispute any inaccurate information on your report.
What do I do if some of the information on my report is incorrect?
If you see information in your credit report that you think is incorrect, you can dispute it with the creditor or the bureaus.