CreditWise is a free credit monitoring service offered by Capital One. It is available to everyone, regardless of whether you are a Capital One customer or have a Capital One credit card.
How CreditWise Works
CreditWise provides you with a free credit score and detailed insights into your credit profile.
Key Features:
- VantageScore 3.0: CreditWise uses the VantageScore 3.0 model based on data from your TransUnion credit report. It is important to note that this is not a FICO score, though it serves as a strong educational indicator of your credit health.
- Credit Simulator: One of the standout features of CreditWise is its simulator. You can test how different actions—such as paying off a large debt, opening a new card, or letting a balance increase—might affect your score before you actually take the action.
- Dark Web Alerts: The tool scans the dark web for your social security number and email addresses, alerting you if your personal information has been compromised in a data breach.
Is CreditWise Accurate?
CreditWise is highly accurate at providing your VantageScore 3.0 from TransUnion. However, because many top-tier credit card issuers (like Chase and Amex) rely on FICO scores for their lending decisions, your CreditWise score might differ slightly from the score the bank actually uses.
Using CreditWise is a “soft pull” and will never negatively impact your credit score.