U.S. Bank Gives Customers Access to Free Credit Score
June 08 2015 - 8:30AM
Business Wire
Simulator helps customers see how
certain financial decisions may impact score
U.S. Bank is offering all online banking customers free access
to their credit score, plus an online simulator that tells them how
the financial choices they make today may affect their score and
their ability to access credit in the future.
The service, CreditView, is provided by TransUnion. CreditView
appears as a custom dashboard with the customer’s TransUnion credit
score, factors that are influencing that score and variables that
can simulate what may happen to that score if, for example, the
customer paid off his or her credit card, or applied for a loan.
The tool provides added information as consumers think through how
to best position themselves financially.
“Knowing your score is important, but even more importantly, we
want customers to understand how choices they make can affect their
score in the future,” said Andrew Cecere, chief operating officer
for U.S. Bank. “Having a good credit score makes it easier to take
out a loan, rent an apartment or make a major purchase with the
best possible terms. Offering CreditView through TransUnion helps
our customers make wise choices, and is consistent with U.S. Bank’s
broader efforts to promote personal financial responsibility.”
In addition to credit scores, customers can use CreditView to
see a summary of up to 12 months of payment history, current
balances, inquiries and credit accounts opened in the last two
years, percentage of available credit that is in use, their oldest
credit accounts and the amount of available credit.
The Score Simulator lets customers see what may happen to their
score if they add a credit card or a loan, have a credit inquiry or
raise the credit line on a credit card. It also lets customers
factor in what may happen if they transfer balances, cancel an old
credit card, increase or lower balances, eliminate balances on all
cards, have delinquent accounts, pay on time or have an account
charged off.
U.S. Bank has offered its retail credit card customers access to
free credit scores since 2011. The new CreditView powered by
TransUnion replaces that service and is available to any U.S. Bank
customer who uses online banking.
The new service complements efforts U.S. Bank has made to
provide financial education through U.S. Bank Financial Genius.
This year, U.S. Bank created Student Union, a financial education
site specifically designed for college students. Students can take
a series of learning courses and apply for a $5,000 scholarship.
They can also share and learn interesting insights from other
students like them. The new free access to credit score and score
simulator will be available to all students, customers and
non-customers, through Student Union until the end of 2015.
About U.S. BankU.S. Bancorp (NYSE: USB), with $410
billion in assets as of March 31, 2015, is the parent company of
U.S. Bank National Association, the 5th largest commercial bank in
the United States. The Company operates 3,172 banking offices in 25
states and 5,016 ATMs and provides a comprehensive line of banking,
brokerage, insurance, investment, mortgage, trust and payment
services products to consumers, businesses and institutions. Visit
U.S. Bancorp on the web at usbank.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150608005252/en/
U.S. Bank Corporate CommunicationsTeri Charest,
612-303-0732teri.charest@usbank.com
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