Credit Sense

No, it is entirely free as a Texas Bay Credit Union account user, and no credit card information is required to register.

The credit score will be updated every seven days and displayed in mobile and online banking. You can click "refresh score" as often as every day for an updated credit score.

The credit report provides users with all the information they would find on a credit file including a list of current and previous loans and accounts and credit inquiries. Users can see details on their payment history, credit utilization, and the public records that show up on their account. When a user checks their credit report, there's no impact on their credit score.

Score Simulator is an interactive tool that allows users to see how hypothetical actions may affect their credit score, including things like paying off a credit card balance or applying for a loan. The simulation does not affect the user's credit score. 

Texas Bay Credit Union uses its own lending criteria for making loan decisions. 

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 and scoring models. Over 200 factors of a credit report may be considered when calculating a score and each model may weigh credit factors differently, so no scoring model is completely identical although there are similarities. Credit Scores are represented in ranges, shown as follows:

 

• 780–850 – This scoring range is considered “Excellent.” Users in this range have very healthy credit histories and are usually eligible for the lowest rates on loans and offers on credit cards.

• 660-779 – This score range is considered “Good.” These users have good credit but may have a few minor issues. These users may still receive favorable rates on loans and cards.

• 600-659 – This scoring range is considered “Fair.” Users in this range may not get the lowest rates on loans and opportunities to borrow start becoming limited.

• 500-599 – This scoring range is “Unfavorable.” Users in this range are new to credit or have serious issues with their credit history. Users in this range may still get loans but at significantly higher rates.

• Below 500 – This range is “Deficient.” Users in this range are new to credit or have had significant defaults or other negative marks. Users in this range may find it hard to get loans. 

Yes, all features are available to use on mobile and tablet devices and are integrated within our mobile and tablet devices and are integrated within our mobile banking application.