FREE FICO Service FAQ

Equifax has a long and well-established history of recording credit information. DCU's goal in offering this product was to provide the most useful information to our members free of cost, allowing our members to better achieve their financial goals. Equifax's reliability and quality of information made them the perfect choice for providing this service to our members.

Why is DCU doing this?

Simply put, for the benefit of our members. Credit scores have become more and more important as time goes on. DCU believes that regular and easy access to credit information is vital to financial health, and through this service, we are able to provide that information at no cost to our members.

Can I get scores from all three bureaus?

At this time, unfortunately not. However, under federal law you are entitled to a free credit report once per year from all three major credit bureaus. While this report will not contain your score, it is vital to review this information regularly for accuracy and to watch for any fraudulent activity. You can find all three credit bureaus' contact information elsewhere on dcu.org, or at annualcreditreport.com.

How do I sign up (opt in) for this service?

If you qualify for Checking Plus or Relationship Checking benefits, watch for your invite in the Message Center in PC Branch. Simply select that link and follow the instructions to Opt-in. You'll need to agree to the Terms and Conditions presented. You'll then begin receiving your credit score on a monthly basis.

Will anyone else have access to this information?

This information will be displayed in PC Branch which is secure and accessible to you via a password. No one else will have access unless you have given them your password to access your account.

Are there other services associated with this that I will be charged for?

Although this information is provided completely free of charge, you will have the option to purchase additional products and/or services directly through Equifax such as alerts and fraud protection options.

Can I get access to my full credit report?

Not through this service, but under federal law you are entitled to a free credit report once per year from all three major credit bureaus. While this report will not contain your score, it is vital to review this information regularly for accuracy and to watch for any fraudulent activity. You can find all three credit bureaus' contact information on dcu.org in our Streetwise site by selecting "All About Credit" or at annualcreditreport.com.

I had a different score recently; what does that mean? / Why is my score changing month to month?

Along with your credit score, you may receive up to two factors that are impacting your credit score. You should focus on changing the behavior that caused these factors.

Credit scores can change for any number of reasons, including opening or closing lines of credit, lowering limits on credit cards, or a change in your payment history. This information is updated regularly, so scores can change within a short period of time. If you had a dramatic change in your score, you should order a credit report from the three major credit bureaus and review the information there. A detailed explanation of how credit scores work and what affects them is found on dcu.org in our Streetwise site by selecting "All About Credit" on the left hand side.

Why is my score so low?

Along with your credit score, you may also receive the top two factors that are impacting your credit score. You should focus on changing the behavior that caused these factors.

Scores are affected by a wide variety of circumstances, including payment history, how much of your available credit you are using, and opening or closing accounts. A detailed explanation of how credit scores work and what affects them can be found on dcu.org in our Streetwise consumer education site. DCU has also partnered with a company called BALANCE which provides financial and credit counseling free of charge to our members. Their services are highly useful in many situations, including explaining credit report changes, and you can reach them at 888.456.2227.

When are these scores updated?

You will receive your Equifax FICO credit score on a monthly basis via Message Center in PC Branch. The scores are updated once per month.

Is this a pre-approval?

No, this credit score can not be used for purposes of granting loans or any other consideration by DCU. This information is provided to you for personal use, simply to monitor your credit score and possibly the reasons why your credit score is not higher. This information is not a pre-approval. However, you can see if you are pre-approved within PC Branch itself. Look for the pre-approval banner just above your accounts page! You can then accept that pre-approval online in PC Branch, or call 800.328.8797, option 3 to speak to a loan representative. New pre-approvals are generated quarterly, so be sure to check back!

How will this credit pull reflect on my credit report? Will it show as an inquiry?

When we receive your credit score within this service, it is not considered an inquiry that can negatively or positively impact your credit score. Furthermore, this will not show as an inquiry on your credit report at all.

Why does DCU have this information without my permission?

DCU will not request this information from Equifax until you "Opt-in" and agree to the terms of the PC Branch Credit Score Disclosure.

DCU does not review or possess any of this credit information. The score is posted directly into your PC Branch from Equifax. DCU does randomly perform soft credit pulls for the purpose of pre-approvals, but you may opt out of these if you wish.

How will DCU use this information? Will my information be sold? Will I now get junk emails from the credit bureaus?

DCU does not use this information at all. It is provided solely to you for informational purposes. We do not and will not sell your personal information at any time, nor will you receive junk email from the credit bureaus. If additional products or services are purchased through Equifax directly, you will be subject to their policies regarding your information.

What goes into determining my score?

Your credit score is determined by many different criteria, including but not limited to: payment history, length of credit history (longer is better), types of accounts open (i.e. lines of credit or installment loans), and even the number of times your credit is pulled. The majority of your score comes from your payment history and your ratio of used versus available credit. Low balances on cards with high limits are better for your score than those same balances on cards with lower limits. For more information, see our Streetwise consumer information portal, and look under "All About Credit."

How can I improve my score?

Along with your credit score, you will also receive the top two factors that are impacting your credit score. You should focus on changing the behavior that caused these factors.

The two most important things you can do to maintain and improve your credit are to 1) maintain a solid and good payment history, and 2) keep balances on your credit cards as low as possible. For more ideas to improve your credit, read the Streetwise section "All About Credit".

How long does a delinquency stay on my credit report?

Credit information stays on your reports for 7 years, but its importance lessens with age. A delinquent payment 6 years ago has far less impact on your score than one 6 months ago. Certain types of bankruptcies, however, can and do remain on your credit report for 10 years.

How can I correct/dispute an error on my credit report?

While nobody can remove accurate information from your credit report, you have the right to correct and dispute errors. If you believe your credit report contains an error, you should contact the applicable credit bureau directly. You can find their contact information elsewhere on dcu.org. DCU cannot remove that information for you.

How can my joint owners get their own score? Would they need their own membership and login?

Joint owners will need their own membership and log-in to take advantage of the service. We encourage joint owners to join in their own right.

How do I opt out?

The opt-out option is available within the credit score notification itself. Simply select that link and you will be removed from the program.