What is Credit Sense?

Credit Sense is a program that helps you stay on top of your credit.  It provides free, ongoing access to your credit score and report, monitors your credit for key changes and provides tips and tools you need to make the most of your credit and to keep it healthy!

With Credit Sense, you can check your credit score, your full credit report and the factors that influence it.  The scores are updated automatically every month or you have the option of refreshing your score and report daily.

Credit Sense also monitors your credit report daily and informs you by email if any big changes are detected - a new account has been opened, change in address or employment, a big delinquency has been reported, or an inquiry has been made.  Monitoring will help you keep an eye out for identity theft and fraud.

Have some questions about Credit Sense?  We have the answers you need!

Q. What is Credit Sense Credit Report?

A. Credit Sense Credit Report provides you with all the information you would find on a credit file including a list of open loans and accounts and credit inquiries.  You will also be able to see details on your payment history, credit utilization and the public records that show up on your account. When you check your credit file, it will have no impact on your credit score.

Q. Is there a fee?

A. No. Credit Sense is entirely free.  You only need to have access to ESFCU Online Banking to take advantage of this great program.  .


Q. How does Credit Sense differ from other credit scoring offerings?

A: Credit Sense pulls your credit profiles from TransUnion, one of the three major credit reporting bureaus, and uses VantageScore 3.0, a credit scoring model developed collaboratively by the three major credit bureaus: Equifax, Experian, and TransUnion. This model seeks to make score information more uniform between the three bureaus to provide consumers a better picture of their credit health.
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Q: Why do credit scores differ?

A: There are three major credit reporting bureaus—Equifax, Experian and Transunion—and two scoring models—FICO or VantageScore—that determine credit scores. Financial institutions use different bureaus, as well as their own scoring models. Over 200 factors of a credit report may be taken into account when calculating a score and each model may weigh credit factors differently, so no scoring model is completely identical. The ranges fall along the following lines:

• 781–850 
This score range is considered “Excellent”. People in this range have very healthy credit history, and are usually eligible for lowest rates on loans and most generous offers on credit cards.

• 661-780
This score range is considered “Good”. People in this range typically have good credit but it may have a few blips or may be short. They may not get the lowest rates on all types of loans.

• 601-660
 This score range is considered “Fair”. People who fall in this range typically do not get the lowest rates on loans and opportunities to borrow start becoming limited.

• 501-600
This score range is considered to be “Unfavorable”. People who fall within this range are new to credit or have had significant defaults. They may get loans at rates that are amongst the highest in the market.

• Below 500
This range is considered to be “Deficient”. People whose scores fall in this range are new to credit or have had significant defaults. They may find it hard to find credit.

Q: Will Credit Sense share credit scores with Emporia State Federal Credit Union?

A: No, Credit Sense is a free service to help you understand your credit health, make improvements in your scores, and see loan and credit card offers from ESFCU. ESFCU doesn’t have access to your credit file with Credit Sense.


Q: How does Credit Sense keep users’ financial information secure?

A: Since you access Credit Sense within our secure, Online Banking where we have encryption and security procedures already in place, we can keep your Credit Sense data safe and secure as well.  Credit Sense also has a sophisticated system that scans for, and thwarts online bots, intrusions and attacks.

Q: What if the information provided by Credit Sense appears to be wrong or inaccurate?

A: Credit Sense is not intended to be comprehensive and may not provide all information about your accounts. That’s why we encourage you to take advantage of obtaining free credit reports from www.annualcreditreport.com to look for any incorrect information or discrepancies across all three bureaus. Each bureau has its own process for correcting inaccurate information but every person can “File a Dispute” by clicking on the “Dispute” link within their Credit Sense Credit Report. However, The Federal Trade Commission website offers step-by-step instructions on how to contact the bureaus and correct errors.


Q: There is a section on the site that features both Emporia State Federal Credit Union product offers and financial education articles. Can you explain more about this?

A: Based on your Credit Sense information, you may receive ESFCU offers on products that may be of interest to you. The educational articles, written by Jean Chatzky and the Credit Sense team, are designed to provide helpful tips on how you can manage credit and debt wisely.


Q: Will accessing Credit Sense impact my credit and potentially lower my credit score?

A: No.  Checking Credit Sense is a “soft inquiry,” which does not affect credit scores. ‘Hard inquiries’ are used by lenders to make decisions about your creditworthiness when you apply for loans. Hard inquiries can lower a credit score.


Q: Does Credit Sense offer credit report monitoring?

A. Yes. When you pull your credit score successfully the first time, you are automatically enrolled into credit monitoring. Your file is scanned daily for key changes, and an alert is sent when a significant change is detected.

TransUnion will provide the following monitoring alerts:
• An account has been included in bankruptcy.
• An account is reported as delinquent.
• A fraud alert has been placed on the credit file.
• A previously derogatory account is now current.
• A new account has been opened.
• An account in your name shows a different address.
• An account in your name listed a new employer.
• A new inquiry on the credit file.
• A new public record has been reported.