CreditWise | Free Credit Score, Credit Report & Monitoring (2024)

FAQs

Does CreditWise monitor your credit? ›

In addition to monitoring your credit, CreditWise scans the dark web for your Social Security number and email address, alerting you to potential identity theft and fraudulent activity in your name.

Is CreditWise accurate? CreditWise gives you an accurate representation of your credit health, as it sources your credit information directly from your TransUnion credit report and updates your VantageScore® 3.0 credit score as often as daily.

CreditWise is a great free credit monitoring service that can help you keep track of changes to your Experian and TransUnion credit reports.

Both FICO and CreditWise use one of the three nationwide consumer credit reporting companies: Equifax, Experian, TransUnion. FICO uses Equifax, whereas CreditWise uses TransUnion. Checking your score on different platforms can result in differing scores.

The CreditWise score is calculated using the TransUnion® VantageScore® 3.0 model. So, it will be pretty close to your VantageScore credit score through TransUnion. However, the score reflected on CreditWise may not be the same as what you get from your TransUnion credit report.

If you are looking for a more comprehensive and detailed credit report to apply for major loans or credit cards, Experian may be a better choice for you. Conversely, if you want a convenient and free way to monitor and manage your credit, CreditWise from Capital One could be the right solution.

Check your credit score for free—without affecting your credit—with CreditWise from Capital One.

Services such as CreditWise pull from all relevant major credit bureaus whereas Credit Karma pulls from fewer, thus resulting in the potential for less precise credit score reporting.

The minimum credit score needed for most mortgages is typically around 620. However, government-backed mortgages like Federal Housing Administration (FHA) loans typically have lower credit requirements than conventional fixed-rate loans and adjustable-rate mortgages (ARMs).

Is 600 a good credit score? ›

According to a report from Experian®, the average FICO credit score in America was 714 in 2022. So 600 falls below that national average. On the VantageScore range, the company says 600 scores are considered poor.

Most consumers have credit scores that fall between 600 and 750. In 2023, the average FICO^® Score^☉ in the U.S. reached 715. Achieving a good credit score can help you qualify for a credit card or loan with a lower interest rate and better terms.

The score provided in the CreditWise tool is calculated using the TransUnion® VantageScore® 3.0 model, which is one of many scoring models. Your CreditWise score is a good measure of your overall credit health, but it is not likely to be the same score used by creditors.

CreditWise provides your VantageScore® 3.0 credit score and monitors credit reports from TransUnion® and Experian®, two of the three major credit bureaus. CreditWise is free for everyone—whether you have a Capital One card or not. And using it won't hurt your credit scores.

Good credit basics

FICO considers anything between 670 and 739 a good credit score. And VantageScore says good credit scores fall between 661 and 780. Scores above those might be considered very good, excellent or exceptional.

Open a Wise multi-currency account

Not all financial accounts require a credit check. This usually means a quicker account opening process, and no extra records appearing on your credit history.

When your score is 750, you're in a strong position to qualify for most financial products and get among the very best rates on them. A 750 credit score is considered excellent on commonly used FICO and VantageScore scales, which range from 300 to 850.