Chase offers free credit scores to consumers
By Tracy Brackman | Published: December 21, 2016
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Chase Card Services, a division of JPMorgan Chase & Co., has unveiled a new website to help American consumers take control of their credit. With the launch of their Credit Journey service, Chase aims to help consumers make smarter financial decisions by providing them with unlimited credit score access and information on how to enhance it.
By enrolling into Credit Journey, a consumer receives access to a variety of features -- regardless of whether he or she is a Chase customer -- including the following:
- Free, unlimited access to his or her VantageScore 3.0 credit score powered by TransUnion. The score is based on information from a person’s credit report and is refreshed weekly upon log in.
- An analysis of his or her credit score, as well as a comparison to other Americans’ credit scores.
- A score simulator, which allows a consumer to see how certain actions, such as paying off debt and opening a new account, can affect his or her credit score.
- A summary of total credit balance, credit utilization rate and late payments across credit accounts.
- An easy-to-read graph of his or her credit score history, starting with the date of sign up and continuing for 12-month intervals.
- Email alerts regarding critical changes to his or her credit report, to help identify potential fraud.
Knowledge is key
Chase hopes these tools will provide consumers with a better understanding of how credit scores affect their financial health. “Knowing your credit score is the first step on your financial journey,” Pam Codispoti, president of Chase Branded Cards, explained in a press release. “Our new site helps you understand your credit score and gives you tips on how to improve it -- so you can achieve your financial goals.”
The debut of Credit Journey follows Chase’s recent launch of the Chase Pay App in a continued attempt to make banking and payments easier for consumers.
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