Credit Monitoring

What is SavvyMoney^TM Credit Score and Credit Report?
SavvyMoney^TM is a comprehensive Credit Score program offered by Peoples Security Bank & Trust, that helps you stay on top of your credit. You get your latest credit score and credit 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 or lower your monthly payments. With this program, you always know where you stand with your credit and how we can help save you money.

Credit Score also monitors your credit report daily and informs you through digital banking and by email if there are any big changes detected such as: a new account being opened, change in address or employment, a delinquency has been reported or an inquiry has been made. Monitoring helps users keep an eye out for identity theft.

Credit Report provides you all the information you would find on your credit file including a list of current or previous 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. Like Credit Score, when you check your credit report, there will be no impact to your score.

What is the Score Simulator tool?
The Score Simulator is an interactive tool that allows you to select various actions you may take and see how your score could be affected. Different actions, like paying off a credit card balance might make your score move up or down. Just like checking your credit score through SavvyMoney^TM, using the simulator does not affect your actual credit score.

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

How does SavvyMoney^TM Credit Score keep my financial information secure?
SavvyMoney^TM uses bank-level encryption and security measures to keep your data safe and secure. Your personal information is never shared with or sold to a third party.

What if the information provided by SavvyMoney^TM Credit Score appears to be wrong or inaccurate?
The SavvyMoney^TM Credit Score makes its best effort to show you the most relevant information from your credit report. If you think that some of the information is wrong or inaccurate, we encourage you to take advantage of obtaining free credit reports from www.annualcreditreport.com, and then pursuing with each bureau individually. Each bureau has its own process for correcting inaccurate information but every user can “File a Dispute” by clicking on the “Dispute” link within their SavvyMoney^TM Credit Report. However, The Federal Trade Commission website offers step-by-step instructions on how to contact the bureaus and correct errors.

Will accessing SavvyMoney^TM Credit Score ‘ping’ my credit and potentially lower my credit score?
No. Checking SavvyMoney^TM Credit Score is always a “soft inquiry”, which does not affect your credit score. Typically, lenders use ‘hard inquiries’ to make decisions about your credit worthiness when you apply for loans.