Centreville Bank customers have FREE access to SavvyMoney, an online tool that gives you a general snapshot of your credit today and best practices to help you improve your credit for the future. You can take advantage of:
Log in to Online Banking or the Mobile Banking App
Click on the "Credit Score" banner
Answer a few first-time visit questions to verify your identity and you're ready to go!
Not using Online Banking or our Mobile Banking App? Learn more and how to get started below:
Is there a fee to use SavvyMoney?
No. We provide it to our customers entirely free of charge!
Do I have to register for SavvyMoney?
If you are enrolled in Centreville Bank Online Banking or use our Mobile App, you are able to access SavvyMoney without any additional registration.
How do I access SavvyMoney?
You will see “Credit Score” banners in both Online Banking and the Mobile App that you can click on to access the SavvyMoney site, similar to the one below:
For your first visit, you will need to provide your first name, last name, date of birth and answer a few credit report specific questions in order to verify your identity. After one successful log in, an updated banner displaying your credit snapshot will automatically appear within Online Banking the next time you log in. You can now click on this banner to access the full SavvyMoney site at any time.
Is my credit score impacted by accessing SavvyMoney?
No. SavvyMoney accesses credit information via a “soft inquiry,” which does not affect a credit score. By comparison, “hard inquiries”are used by lenders to make decisions about creditworthiness when users apply for loans and can affect a credit score.
Is SavvyMoney secure?
SavvyMoney uses bank-level encryption and security policies to keep customer data safe and secure. Their policies and processes are reviewed annually by a third-party auditor and have been verified by Fiserv’s Security and Compliance for meeting their stringent security guidelines.
Will Centreville Bank use SavvyMoney to make loan decisions?
No, Centreville Bank uses its own lending criteria for making loan decisions and has no access to SavvyMoney or the information it contains such as customers’ credit files or scores.
How are credit scores determined?
There are three major credit reporting bureaus—Equifax, Experian and Transunion—and two scoring models—FICO or VantageScore—that determine credit scores. Financial institutions can use different bureaus, as well as their own scoring models.
Over 200 factors of a credit report may be taken into account when calculating a score and each model may weigh credit factors differently, so no scoring model is completely identical.
How does SavvyMoney determine credit scores?
SavvyMoney pulls users’ credit profiles from TransUnion and uses VantageScore 3.0, a credit scoring model developed collaboratively by Equifax, 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. Key factors that drive the score are the same.
What is the SavvyMoney Credit Report?
SavvyMoney Credit Report provides you all the information you would find on a credit file including a list of open loans and accounts and credit inquiries. You’ll also be able to see details on your payment history, credit utilization and the public records that show up on your account.
How often does SavvyMoney update credit scores?
The widget within online banking will automatically update the score every 30 days but you can click “refresh your score” on the Credit Score Dashboard or within the widget inside online banking at any time.
What if my information in SavvyMoney appears to be wrong or inaccurate?
SavvyMoney is not intended to be comprehensive and may not provide all information about your accounts. You are encouraged to take advantage of obtaining free credit reports from www.annualcreditreport.com to look for any incorrect information or discrepancies across all three bureaus. 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 Credit Report. The Federal Trade Commission website also offers step-by-step instructions on how to contact the bureaus and correct errors.