My Credit Rx - Credit Monitoring

No. My Credit Rx is an entirely complementary feature inside online banking and our mobile app.

No. My Credit Rx uses a “soft inquiry”, which does not affect your credit score. Lenders use ‘hard inquiries’ to make decisions about your creditworthiness when you apply for loans.

Yes. My Credit Rx will monitor and send email alerts when there’s been a change to your credit profile.

Your credit score will be updated weekly and displayed in online banking or the mobile app. You can click “refresh score” as frequently as every day for the most updated score.

In most instances, lenders do not report interest rate information on accounts to the credit bureaus, which is where My Credit Rx retrieves your information from. To ensure we are providing you all of the info you need to be credit aware for all of your accounts, My Credit Rx reverse calculates an approximate rate based on the information it has access to.

• For home loans, additional charges such as escrow balances could be missing causing the rate estimate to vary from the actual rate.

• For credit cards or student loans, the rate estimate may vary as these types of accounts have fluctuating payment amounts and are open-ended.

You are free to edit the rate estimate for your loans to reflect the actual rate at any time. My Credit Rx will save the rate you input and display it for the life of the account.

No, NIHFCU uses its own lending criteria for making loan decisions.

My Credit Rx can help you manage your credit so when it comes time to borrow for a big-ticket purchase—like buying a home, car or paying for college—you have a clear picture of your credit health and can qualify for the lowest possible interest rate. You’ll also see offers on how you can save money on your new and existing loans with NIHFCU.

It can take up to a month for your information to report to the credit bureaus. Some credit card companies only report once a month. My Credit Rx does not report updates in real time. Refreshing your account will show accurate information as long as it has been reported to the credit bureau.

My Credit Rx makes its best effort to show the most relevant information from your credit report. If you think that some of the information is wrong or inaccurate, there are several ways that you can dispute it with the individual credit bureaus. If the information in dispute is on your Transunion credit report, you can “File a Dispute” directly in My Credit Rx by clicking on the “Dispute” link and following the instructions. If the inaccuracy is with a different credit bureau, you can obtain a free credit report from www.annualcreditreport.com, and then dispute the inaccuracies with each bureau directly.

My Credit Rx uses bank level encryption and security measures to keep your data safe and secure. Your personal information is never shared with or sold to a third party.

Based on your credit information, you may receive NIHFCU offers on products that may be of interest to you. In most cases, these offers may have lower interest rates than the products you already have. The educational articles are designed to provide helpful tips on how you can manage credit and debt wisely.