App of the Week – CreditWise

credit wiaseWe live in a dangerous time. Because of technology and the Internet at any moment your identity and financial life is on the line. Protecting your assets against hackers and data breaches is paramount. That is why CreditWise is the App of the Week.

In March of this year, CapitalOne became the first U.S. bank to offer free credit monitoring through the CreditWise app.  Based in Virginia, CapitalOne launched the free app after the success of CreditTracker, a free credit tracking tool launched in 2014 exclusively for CapitalOne customers. The success of the app caused the company to offer it to everyone else.

You are probably one of many people who are constantly checking their cellphones. This app gives those people access to a weekly credit score update from TransUnion one of the three major credit monitoring companies in the United States.

A 2015 survey revealed that 26 percent of Americans have never checked their credit report. And 40 percent of millennials have never checked their credit report because they had no idea where to obtain it.

CreditWise gives the user the ability to constantly monitor their credit score and become quickly aware of any changes or shenanigans that may be happening. Reacting quickly to suspicious activity can make a huge difference when it comes to fighting credit fraud or identity theft.

“CreditWise gives users so much more than just a score. It helps them understand what makes up their score, what makes it go up, what makes it go down, and focuses on actions they can take to improve it. With CreditWise, we have our customers’ backs when it comes to their credit health,” says Sarah Strauss, Managing Vice President of U.S. Card at Capital One.

Click here to see a video of how the CreditWise app works.

A 2003 amendment to the Fair Credit Reporting Act allows Americans a free annual credit report from the three major credit reporting agencies,  Experian, TransUnion, and Equifax.

CreditWise is free and available for Apple and Android  also on the CapitalOne website.



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