Smart Credit

Having good credit can determine whether or not you get approved for an important loan and what terms the bank will lend to you. Not only that, but credit scores can also impact insurance rates, rental applications and getting hired for a job. If you have bad credit or want a better score, SmartCredit offers personalized plans and tools to help get your best credit score quickly. In this SmartCredit review, you'll learn how it works, what it costs and what else is included in your subscription.

How do you build your credit score?

A person's credit score is not a static number. Credit scores change many times each month as banks, credit card companies and other lenders provide new information. Credit bureaus compile this data and apply their proprietary scoring models to generate your credit score.

The five main factors that make up your credit score are:

• Payment history (35%). Are you making your payments on time? Set up automatic payment of the minimum amount due to ensure you don't miss a payment.
• Amounts owed (30%). How much of your credit limits are you using? Ideally, you should keep each credit card below 30% of its limit. Balances below 10% are even better.
• Length of credit history (15%). Shows that bank that you can keep an account in good standing for longer periods of time. Keep your oldest credit cards open to promote a higher average age of accounts.
• Credit mix (10%). The ability to handle different types of credit, including term loans, mortgages and credit cards. Even if you prefer to pay in cash, it is wise to keep at least one credit card open.
• New credit (10%). The number of hard inquiries and new accounts on your credit report. Each hard inquiry can drop your score by up to five points and impact your score for up to 12 months. Avoid unnecessary credit applications as much as possible.

Even with this information, many consumers are unsure what steps to take to get their best credit score. SmartCredit enables financial success with credit score tools, personalized recommendations, money management and more.

What is SmartCredit?

SmartCredit is a simple all-in-one financial platform with credit score tools. Subscribers can control their future credit scores by learning which factors are helping and hurting their scores, which allows them to take immediate action.

How does SmartCredit work?

SmartCredit interactive platform enables financial empowerment. Instead of doing the work for you, it teaches you how to qualify for more based on personalized recommendations. The system includes numerous tools, like ScoreBuilder, ScoreBoost and ScoreTracker, so users can become better users of their money and credit.

ScoreTracker: Track Scores With Simple Charts

Keeping track of your progress reinforces good behavior and helps you know when you've reached your financial goals. With ScoreTracker, you'll see all of your different types of credit scores and how they're changing over time. Not only are there three major credit bureaus, but each bureau has multiple credit scores tailored to different types of debt.

ScoreBuilder: 120 Days to Better Credit

Knowing the right steps to take can be challenging. What works for one person may not deliver results for someone else. ScoreBuilder provides the best advice for your unique situation and helps you control your future credit score. Its interactive features teach you how to take action on your own to improve your credit.

The software analyzes your accounts to determine what factors are helping your score... and which ones are hurting it. Then, it creates a list of action steps you can take to get your best credit score and reach your financial goals.

You'll also find a list of problem accounts and common credit report inaccuracies. A Federal Trade Commission (FTC) study found that 25% of consumers identified errors that could affect their credit scores. To help address potential errors, ScoreBuilder shares suggested messaging to get the best results for updating your accounts.

As you check off to-do items on your list, ScoreBuilder keeps track of the actions you take and their status. The average result for members is an increase of 54 points. ScoreBuilder includes credit monitoring alerts, so you'll know when your credit report is updated.

ScoreBoost: Get Your Best Credit Score

Analyzes each of your credit card account's utilization ratios to share how payments affect your credit score. With this information, you'll know how much to pay and when to do it to reach your target score faster. This helps you get the biggest bang for your money as you pay off your debt.

Action Buttons: Instantly Connect With Your Bank

With SmartCredit's integrated action buttons, you'll communicate directly with your bank to take action with your finances. Whether it's requesting to dispute a transaction, reconciling your account or transferring money, you'll be closer than ever to your finances. There are more than 50,000 financial institutions that participate, including Bank of America, U.S. Bank, Citibank and American Express.

What other benefits does SmartCredit offer?

SmartCredit not only helps members control their future credit scores, but it also provides other valuable financial tools at no extra charge. These tools enable financial empowerment by educating members about the simple steps they can take to improve their money situation.

Money Manager: Stay On Top Of Your Finances

The Money Manager creates a simplified dashboard where you can stay on top of your finances. Link all of your bank accounts, investments, loans, credit cards and other accounts to see transactions, statements, trends and more.

Money Manager finds online accounts connected to your credit and adds them automatically. This ensures you have a complete picture of your finances when tracking your net worth.

Transaction monitoring enables you to verify transactions and stop theft if hackers access any of your accounts. You can also choose to receive alerts so you don't miss any payments. Plus, this comprehensive view of your finances makes it easy to plan and budget your spending and easily get a clear picture of your finances from one simple dashboard.

Privacy Master: Protect Your Personal Information

SmartCredit’s privacy and fraud protection also scans websites, data brokers and the dark web for your personal information. If your information is located, use Privacy Master to request removal from their websites and databases. This feature also alerts you when the data has been removed and if it shows up again. Plus, it even covers pre-existing unknown fraudulent activity.

**$1 Million in Identity Fraud Insurance: Protect Your Entire Household **

More than ever, it is important to protect your personal information. The privacy and fraud insurance protects you and your entire household for up to $1 million for out-of-pocket expenses incurred due to identity theft. It covers lost wages, attorney fees and recovery expenses for stolen IDs, passports and driver's licenses. If you need to make a claim, there is no deductible, so all of your eligible costs are covered.

How much does SmartCredit cost?

SmartCredit offers two monthly subscription plans to meet your budget. The two monthly plans include similar features, but the premium version offers unlimited access while certain limits apply to the basic subscription.

This chart breaks down the comparison between the basic and premium memberships.

The bottom line

SmartCredit provides interactive and simple instructions so you can achieve your best credit score. Its credit score tools, money management dashboard and privacy protection are available for one low monthly price. Instead of doing all the work for you, SmartCredit highlights opportunities for improvement and allows you to take immediate action to reach your financial goals. This way, you know how to build solid financial habits no matter how long you continue your subscription.