Frequently Asked Questions

What is Signal’s Credit Score Dashboard?

Signal’s Credit Score Dashboard is powered by our partner SavvyMoney. It helps you stay on top of your credit by providing your latest credit score and report and understanding key factors that impact the score. It also monitors your credit daily and informs you by email if any significant changes are detected, such as a new account being opened, a change in address, employment, delinquency, or inquiry has been reported.

Does Signal’s Credit Score Dashboard offer credit monitoring as well?

Yes, the Credit Score Dashboard will monitor and send email alerts when there has been a change in your credit profile.

Is there a fee for Signal’s Credit Score Dashboard?

Signal’s Credit Score Dashboard is free for our members.

Will accessing Signal’s Credit Score Dashboard “ding” my credit and potentially lower my credit score?

The Credit Score Dashboard is a “soft inquiry” which does not affect a credit score. Lenders use “hard inquiries” to make decisions about creditworthiness when you apply for loans.

How often is the credit score updated?

The credit score will be updated every seven days and displayed in mobile and online banking. You can click “refresh score” as often as every day for an updated credit score.

What if the information provided in Signal’s Credit Score Dashboard appears to be wrong or inaccurate?

We do our best to show the most relevant information from a credit report. If you think some information is wrong or inaccurate, you can obtain a free credit report from www.annualcreditreport.com and then dispute inaccuracies with each bureau individually. To file a dispute with Transunion, click the “Start A Dispute” button on the Credit Report page.

Why do credit scores differ?

Three major credit-reporting bureaus (Equifax, Experian, and Transunion) and two scoring models (FICO and VantageScore) determine credit scores. Over 200 credit report factors may be considered when calculating a score, and each model may way credit factors differently, so no scoring model is identical.

Can the Credit Score in Signal’s Credit Score Dashboard differ from other credit scoring offerings?

Answer. Yes. Three major credit reporting bureaus—Equifax, Experian, and Transunion—and two scoring models—FICO or VantageScore—determine credit scores. Financial institutions use different bureaus, as well as their scoring models. Over 200 factors of a credit report may be considered when calculating a score, and each model may weigh credit factors differently. Hence, no scoring model is completely identical but should directionally be similar.

Will Signal Financial use the Credit Score Dashboard to make loan decisions?

Signal Financial uses its own lending criteria for making loan decisions.