We recently released our Credit Monitoring Tips feature. By running different financial simulations based on your individual credit report and score information from TransUnion, we’re able to provide you personalized tips on how you can potentially improve your credit.
As part of our commitment to help you achieve financial wellness, we’re doing something that no one else within the financial industry is doing, and that’s providing you personalized and actionable tips about how you can improve and better manage your credit.
If you’ve signed up for our free credit monitoring service you already know that you can get your TransUnion VantageScore 3.0 score and view key information about your credit report – all for free.
Knowing your credit score and details about your credit report is valuable, but we don’t stop there.
MoneyLion takes it step further.
Leveraging TransUnion’s database we run through a variety of different financial actions that you could take, and then see how those financial actions can positively impact your credit score.
Today we do the following financial simulations and looking to add more in the coming months:
- Pay off all your credit card balances
- Pay all of your bills on time for 3 months
- Get a personal loan and pay off 100% of your credit card balances
- Reduce your total debt balance by 5%
- Add a new credit card and include 5% of your outstanding revolving accounts amount as the new balance
- Transfer all of your revolving balances to a new credit card.
The result
Each MoneyLion customer who has signed up for free credit monitoring will get their own personalized Credit Monitoring Tips.
<img src="/content/images/2016/11/credit_monitoring_tips_results_mobile_app-1.PNG" alt="Credit Monitoring Tips Simulation Result Mobile App" style="width: 300px;"/ align="left">
You can view your tips in two places: on your credit monitoring web dashboard or in your MoneyLion mobile app.
If you want to play around with simulations on your own we’ve also made that easy. Go to your Credit Monitoring dashboard (both web and mobile app) and try out the Credit Score Simulator. The simulator tool lets you adjust more than 15 financial variables singly or in different combinations to give you a powerful view into how your credit score can be impacted by different financial actions.
If you haven’t signed up for free credit monitoring, we encourage you to sign up today, and then see what tips you get!
