What do credit scores differ?

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. No matter what credit bureau or credit scoring model is used, consumers do fall into specific credit ranges:

  • Excellent 781–850
  • Good 661-780
  • Fair 601-660
  • Unfavorable 501-600
  • Bad Below 500

How does Credit Sense differ from other credit scoring offering?

Credit Sense pulls your credit profile 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.

How often is my credit score updated?

As long as you are a regular online banking user, your credit score will be updated every month and displayed in your online banking screen. You can click “refresh score” as frequently as every day by navigating to the detailed Credit Sense site from within online banking.

What is Credit Sense Credit Report?

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

How do I enroll in Credit Sense?

Getting Started with Credit Sense

  • Once you’ve logged in to the Mobile App or Online Banking, tap My Credit Score
  • Click Get Started
  • Complete your credit profile and accept the terms and conditions to enroll in Credit Sense
  • After you’ve registered, you’ll be able to view your credit score, learn about factors to help improve your score, explore savings opportunities, and sign up for credit monitoring alerts—anytime, anywhere.

What is Credit Sense?

Credit Sense is a Credit Score program offered by Cornerstone Bank that helps you stay on top of your credit. You get your latest credit score and report, an understanding of key factors that impact the score.  With this program, you always know where you stand with your credit and how Cornerstone Bank can help you reach your financial goals.

Credit Sense also monitors your credit report daily and informs you by email if there are any big changes detected such as: a new account being opened, change in address or employment, a delinquency has been reported or an injury has been made. Monitoring helps users keep an eye out for identity theft.