Keeping an eye on your credit score is an essential part of financial health. But let’s face it, checking your score constantly can feel like a chore. That’s why Richwood Bank is proud to offer Savvy Money, a free tool within our online banking platform that provides real-time credit score monitoring and valuable resources to help you manage your credit effectively.
Here’s how Savvy Money works:
- Real-time Credit Score Monitoring: Once you register for Savvy Money, you’ll gain access to your credit score, updated frequently. This allows you to track your score’s progress over time and identify any potential issues quickly.
- Credit Score Alerts: Savvy Money will notify you via email whenever your credit score changes. These alerts are a convenient way to stay informed and take action if necessary.
- Soft Inquiries vs. Hard Inquiries: You might be concerned that using Savvy Money will negatively affect your credit score. However, rest assured, Savvy Money uses soft inquiries, which have no impact on your score. These inquiries simply allow Savvy Money to access your credit report and provide you with your score.
Recognizing Alerts:
The credit score changes you receive through Savvy Money are legitimate. We recommend logging into your online banking to review the report and understand the reason behind the change.
What to do if you see an unexpected inquiry:
If you receive a Savvy Money alert for a credit score change you don’t recognize, it’s best to be proactive. You can access your free annual credit report from Annual Credit Report. This report will provide a detailed breakdown of your credit history, including any inquiries made by lenders and creditors.
If you find an inquiry on your report you don’t recognize, contact the inquiring agency immediately. Most businesses will work with you to report the potential fraud and have it removed from your credit report.
Richwood Bank: Committed to Your Financial Security
At Richwood Bank, we prioritize the safety and security of your financial information. Savvy Money is just one of the ways we empower you to take control of your credit health. By staying informed about your credit score and taking action quickly in case of suspicious activity, you can prevent fraud and maintain a healthy credit profile.
Ready to get started with Savvy Money? Our friendly team is happy to help! Visit your nearest Richwood Bank branch or call us to learn more about activating this valuable tool within your online banking. Let’s work together to keep your financial future bright!
