A credit score of 800 -850 is considered excellent and improves your creditworthiness. How much or how little you pay for any line of credit you take out is dependent on the statistical analysis of your credit score.
Chase credit journey aids you keep track of your credit score. It beeps you on the reception of derogatory remarks collections and other factors that may slash your creditworthiness by 100.
This article on Chase Credit Journey Review is an analysis of the credit score review service they offer. Hence, this post will answer all frequently asked questions about the Chase Credit Journey, state how it works, and how it gets its information.
The table of contents below shows the order in which relevant questions pertinent to the chase credit journey are duly answered.
Table of contents
What is Chase Credit Journey?
Missing one credit card payment lowers your credit score by 100. This in turn affects your creditworthiness. However, you can avert this consequence if someone aids you keep an eye on your credit score.
Chase Credit Journey is a free tool that allows you to check your credit score. With this credit score review service, you can always avoid earning a 100-point loss. Aside from the free credit score review service, the Credit Journey alerts will also notify you when there are changes to your credit.
Credit Journey clients get an updated weekly score of their credit cards alongside an interactive score simulator tool. Interestingly, this credit score review service is open to Chase account and non-account holders.
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What Appears on Chase Creditview Dashboard?
On Credit Journey, you can check your credit score and you can also get information on Credit offers, reports and resources.
Basically, the creditview dashboard displays your current credit score and over time credit score alongside the factors affecting your credit score.
This display is done in a clear manner to aid clients see all relevant information to their credit score in one place. Navigating through the dashboard, clients will find access to:
#1. Chase Credit Journey Alerts
This panel on Chase Credit displays information on changes to clients account. If new accounts are being opened under a clients name, Credit Journey beeps the client through its alert services.
In addition, the Credit Journey alert feature notifies customers when hard inquiries are being made on a client’s account. It attaches a link that allows you to file a dispute if a change was not authorized by you or made in error.
In summary, the alert feature on Chase credit monitors open and closed accounts of clients, derogatory marks, inquiries, and collections on Credit Journey accounts. It also notifies public records and personal information changes.
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#2. Chase Credit Journey Offers
This feature on creditview dashboard shows potential products an account holder might be interested in. This analysis is usually deduced from your credit report and financials
#3. Credit Journey Resources
This feature houses Chase Credit’s educational page. This page is reserved for tutoring on credit basics, myths, calculations, and more.
Relevant information on the list below are displayed on the educational page.
- Credit report basics
- Tips for raising your score
- How long records last
- Common credit myths
- How to build credit
- How scores are calculated
- Credit inquiries
#4. Chase Credit Journey Report
This feature displays the account holders’ TransUnion report. The report comes with a 7-factor comprehensive overview. This report feature displays
#Open accounts: The Credit Journey gives a report on all open accounts showing up on a client’s TransUnion report. It also displays the account holder’s total balance and available credits.
Closed accounts: This features reports closed accounts even those closes for several years now.
Inquiries: It sends out a report whenever request on an account holder’s credit history is made.
Derogatory marks: This feature also reports bankruptcies, tax liens, collections and every lenders report of missed payment and delinquencies.
Collections: Reports are given on past due accounts by this feature.
Public records: this fetaures also gives updat on public records like missed child support payment and wage garnishments.
Personal information: This feature houses an account holders basic info like name, address , employment, and birthdate.
#5. Credit Journey Score Simulator Tool
This panel on the credit view dashboard demonstrates how certain situations affect an account holder’s credit. Basically, the Credit Journey Score Simulator starts with a client’s current credit score with reports from TransUnion.
On this panel on the dashboard, you can check out different scenarios. Moreso, you can adjust the metrics below militating against your current score.
Credit Usage: Clients can effect changes on available credit and balance
Current Balances: An account holder can transfer or adjust his/her total balance
Credit History: This allows users shorten or increase the length of their credit history.
Payment History: Here, clients can change the number of on-time payments
Credit inquiries: The number of times a lender has requested to see a user’s credit history can be adjusted on Score Simulator Tool.
Read also: Can You Pay a Credit Card With a Credit Card? | 2023
How Does Chase Credit Journey Work?
Chase Credit Journey uses the VantageScore 3.0 to monitor the credit score of its clients as reported by TransUnion.
VantageScore 3.0 is a consumer credit scoring model. Though similar to the FICO score, it is calculated based on the TransUnion report which is one of the three major credit bureaus.
So, it acts as a reminder by giving alerts, as a monitor by dishing out reports on activities on clients’ credit cards. Basically, its aim is to help you avoid unnecessary 100-point loss on your credit card which reduces your creditworthiness.
So, Credit Chase goes all out to monitor and update users on the factors that affect their credit score alongside how they can avoid losing their creditworthiness.
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What Factors Affect Credit Score?
Your credit score is calculated based on TransUnion reports. As one of the three national credit reporting companies, it calculates a credit score based on six factors.
On Chase Credit Journey dashboard, clients can click on any of the factors to get more details.
The six factors are listed below from the highest impact to lowest impact they have on a credit score:
#1. Late Payments
This has the highest impact on your credit score. The late payment metric draws information from your payment history and behavior.
It dates back to the first open credit card account and derogatory marks will negatively affect your score. Also, too few loan accounts opened may affect a credit card score.
#2. Oldest Accounts
The length of a credit card may affect the credit score of an individual. This metrics takes into consideration the period before establishing a credit history. The longer it is the safer it becomes.
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#3. Credit Usage
This shows the percentage of available credit an individual is using. The utilization rate of an individual’s credit card affects the credit card score as well.
#4. Total balances
This metric resorts to available information on what an individual owes across all his/her account.
#5. Hard inquiries
The number of hard inquiries an individual has also affects a credit score. Hard inquiries are recorded when a creditor or lender requests to see an individual’s credit history.
#6. Available credit
This metric takes into account all unused credit on a credit card. Generally, the less you use your available credit, the better it becomes.
How Does VantageScore Differ from Other Scoring Models?
The difference between VantageScore and other scoring models is the number of factors used for calculations.
Vantagescore is a scoring model used by TransUnion, Equifax and Experian. This trio collaborates to establish better conssitency between bureaus.
Hence, their scoring model differs from others because of capacity and number of factors.
VantageScore has the capacity to score millions of people because of its incorporation of 24 months of credit history.
Unlike FICO which uses five factors to calculate credit scores, VantageScore 3.0 uses six factors.
You should read: How to Increase your Chase Credit Limit in 2023 | Updated
How Do I Access my Chase Credit Account?
Chase Credit Journey is obviously one of the best credit score monitoring service. This is because you don’t need to bank with Chase to enjoy this service.
Users can access Chase Credit Journey Account through their desktop or mobile app. If you don’t bank with Chase, you can create an account using the three-step process.
To complete this process, you will enter your personal details, and confirm your identity.
If you are banking with Chase, you would need your Chase Credit login credentials to access Chase Credit Journey on your desktop.
Accessing Chase Credit journey on your app is easier. Simply login with your Chase Credit Journey login credentials on your app.
Scroll down to Credit Score by Credit Journey” to gain access to your dashboard. tapping the “Try Our Score Simulator” icon on the dashboard will give you access to the Credit Journey Score Simulator.
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Chase Credit Journey Review|Legit or Scam
Deciding to use Chase Credit Journey is left to your discretion. However, Chase Credit offers a reliable and trustworthy service that could help avert some losses.
Basically, using Credit Journey doesn’t affect your credit score one bit; rather, it updates you on all factors that could affect your credit score.
So, if you would love to get updates on your credit score weekly, Chase Credit Journey offers the best credit monitoring service you can get.
Also, it offers tips that will help you build credit through its resource page alongside notification of changes in your report.
Chase Credit Journey is safe and ideal as it alerts you of potential fraud and identity theft.
Its monitoring service has so many advantages which includes free credit monitoring. It is also very easy to use and does not mandate you bank with Chase.
However, Chase Credit’s use of only the Vantage Score TransUnion credit report and the inability of its Score Simulator to always function is a hitch you may wish to consider.
Chase Credit Journey offers legit credit score monitoring services and its scam free.
Conclusion
Possibilities of getting so busy that you forget to make loan payments at the right time exists.
When this happens, a score point of 100 is lost on your credit card. This in turn puts your creditworthiness in doubt.
Chase Credit Journey offers a credit score monitoring service that aids you avert this consequence.
This article on “Chase credit Journey Review” explains what Chase Credit is, how it works explains in detail how you can access Chase Credit Journey Account.
It is an easy and informative piece on Chase Credit put together by thewealthcircle for you.
References
- money.com– Chase credit journey review
- helpmebuildcredit.com– Chase credit journey- is it accurate? Complete review
- finmasters.com- Chase credit journey review
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