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CreditWise from Capital One Now Available to Everyone

March 10, 2016 at 2:40 PM EST

Capital One is first major bank to offer free credit score monitoring app to all;
Wants every American to be on the path towards credit success

MCLEAN, Va.--(BUSINESS WIRE)--Mar. 10, 2016-- To help more Americans take control of their financial well-being, Capital One® is unveiling CreditWise® – a free and easy to use mobile app and website that enables more consumers to easily see and understand their credit profile, track it and learn how to improve it. With the launch of CreditWise, Capital One is the first major bank to offer a credit monitoring tool – free of charge – to everyone, even people that don’t have a product with Capital One. Capital One’s new CreditWise is available in the Apple App Store and online at www.capitalone.com/creditwise.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160310006403/en/

Capital One is unveiling CreditWise – a free and easy to use mobile app and website that enables mor ...

Capital One is unveiling CreditWise – a free and easy to use mobile app and website that enables more consumers to easily see and understand their credit profile, track it and learn how to improve it.

“Knowing your credit score, understanding the things that can impact it, and taking steps to help increase it, is empowering and can be one of the most important things you can do to improve your financial health,” said Bill Hardekopf, CEO of LowCards.com. “A higher credit score can benefit you in so many areas of life. CreditWise will make it easier for consumers to manage their credit score and achieve a more stable financial position.”

CreditWise, an updated new version of Capital One’s popular Credit Tracker, is designed to offer a user-friendly experience that makes keeping on top of your credit easy. Key features include:

  • Unlimited access to your TransUnion credit information with no negative impact on your score
  • Weekly updates of your TransUnion VantageScore 3.0 credit score
  • Notifications when there’s a change to your credit report
  • Credit simulator that allows you to see the potential impact of financial decisions before you make them
  • An overview of key factors that impact your credit score
  • A full list of both open and closed lines of credit, organized by account type (e.g., real estate, credit cards, personal loans, etc.)
  • Balance details for both open and closed accounts

According to a recent Capital One survey, less than one-third of Americans (31 percent) know their credit score and 37 percent haven’t checked their score in more than a year. With CreditWise, Capital One aims to help people understand, improve and monitor their credit score.

“We first launched Credit Tracker in 2014 to help offer guidance to our U.S. credit card customers. It was an incredibly popular and helpful tool for our cardholders, and we decided to expand the experience with CreditWise to enable everyone to have a convenient and transparent way to monitor their score for free,” said Sarah Strauss, Managing Vice President of U.S. Card at Capital One. “CreditWise gives users so much more than just a score – it helps them understand what makes up their score, what makes it go up, what makes it go down, and focuses on actions they can take to improve it. With CreditWise, we have our customers’ backs when it comes to their credit health.”

“With CreditWise, Capital One is proactively addressing the credit score knowledge gap and empowering consumers with information they need to make well-informed financial decisions,” said Patty Hasson, Executive Director for Clarifi – a non-profit financial counseling organization. “Making this tool freely available can have a real and positive impact, helping consumers across the United States gain a better understanding of credit scores and the key factors that go into every person’s score. It is a useful tool that can help take some of the mystery out of what is a very important number in every U.S. consumer’s life.”

Check out more about CreditWise at www.capitalone.com/creditwise and watch a demo video that shows key features of the CreditWise experience. An Android version of CreditWise will be available soon.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $217.7 billion in deposits and $334.0 billion in total assets as of December 31, 2015. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 100 index.

Source: Capital One

Capital One
Angela Solomon, 646-628-7188
angela.solomon@capitalone.com