Chase Credit Journey Review

ShawnCredit & Debt, Misc, Reviews2 Comments

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Chase Credit Journey

Knowing your credit score is super important.

Whether you’re about to make a big purchase, like buying a home or car, or need money to pay off a loan or start a business, your credit score has a big impact on your finances.

That’s because lenders use your credit score to determine your creditworthiness, and thus, the offers and interest rates you qualify for.

While there are a number of ways to check your credit score, Chase has provided an easy way to do that using the Chase Credit Journey portal through their website or mobile app.

What is the Chase Credit Journey?

Chase Credit Journey

Chase Credit Journey is a new tool that was launched in 2017 as a way for people to check their credit score and credit activity.

This is a totally free service that’s updated every week, and it doesn’t impact your credit score.

You may not know, but there are three main bureaus that use your financial history to calculate a credit score for you:

  • Experian
  • Equifax
  • TransUnion

Chase Credit Journey uses the VantageScore 3.0 score provided by TransUnion.

Similar to other scores, such as your FICO score, your VantageScore 3.0 indicates your creditworthiness.

The higher your score, the more likely lenders will want to lend to you, and the more favorable terms you’ll receive.

While lenders typically use your FICO score to make lending decisions, knowing your TransUnion score is still valuable, as scores are typically pretty similar across credit bureaus.

Who Can Use Chase Credit Journey?

Surprisingly, anyone can use Chase Credit Journey to look at their credit score – for free!

You do not need to be a Chase customer to use this service.

For existing Chase customers, log on to Chase’s website and navigate to the link found on the lower right-hand side of the page, here:

Alternatively, you can find the link in Chase’s mobile app as well, though it is admittedly a little easy to miss:

If you’re a non-Chase customer but would still like to check out your credit score for free, you can do that too!

Just sign up here.

Note that you’ll need to verify your identity using your social security number to sign up if you’re not a Chase customer.

How Does Chase Credit Journey Work?

The Chase Credit Journey is divided into five different sections:

  • Credit Score
  • Credit Alerts
  • Offers
  • Report
  • Resources

Credit Score

This page displays your current credit score:

It also shows your score’s history over time:

Along with your credit score, this page lists the six main factors that determine your score.

These factors vary in how much they affect your score. Some have a minimal impact, while others greatly affect it.

These factors are:

  • Late Payments – considers your repayment success over time
  • Account History – the age of your oldest account
  • Credit Usage – indicates the percentage of credit you’re using now
  • Total Balances – indicates the total amount owed across all accounts
  • Hard Inquiries – indicates requests for credit history
  • Available Credit – the amount of unused credit you have available

Credit Alerts

This page shows any important changes that have been made to your TransUnion credit report:

Alerts that are monitored include:

  • New account openings
  • New credit inquiries
  • Changes in contact info, such as address
  • Employment Changes
  • Changes in account status
  • Fraud alerts
  • Delinquent account notices
  • New public records reported on your account

 

These alerts will be emailed to you as they happen. This makes it easy to stay up to date on any changes to your credit profile and allows you to take action as soon as possible, like in the event of fraud.

Offers

This page lists any credit card offers that have been selected for you based on your credit information and your chance of approval:

If you’re in the market for a new credit card, loan or bank account from Chase, you may want to start here.

Report

This page shows a summary of your TransUnion credit report, including open accounts, closed accounts, credit inquiries, derogatory remarks, if any collections exist, whether a public record has been filed against you, (such as foreclosures) and personal contact information.

This report only gives you access to your TransUnion credit report, so it is by no means comprehensive.

If you want full access to your entire credit report, it’s suggested you go to AnnualCreditReport.com to request your full credit report. You are allowed one of these per year from each of the three major credit bureaus. It’s free and doesn’t affect your credit score.

Resources

This page is chock full of helpful resources, including a FAQ that answers any questions you may have about your credit report, your credit score, and how Chase Credit Journey works:

It also has some helpful resources that can teach you the basics of credit reports, common credit myths, how credit scores are calculated and ways you can raise your credit score.

Other Tools

Chase Credit Journey also comes with a few helpful tools. One of the coolest is the credit score simulator.

The credit score simulator allows you to adjust specific parameters of your credit, such as your credit usage, current balances, credit history, payment history, and credit inquiries, to see how it affects your credit score.

For example, you could see how reducing your credit card balance or applying for a new card could affect your credit score:

In this example, paying down debt increased my credit score by 101 points!

Chase Credit Journey Vs. Other Services

Chase Credit Journey is a great service for anyone wanting to look at their TransUnion credit score and report.

But is there any reason you should use Chase’s service over something like Credit Karma or MyFICO?

Pros of Chase Credit Journey

  • Gives you access to your TransUnion credit score and report
  • Updated weekly
  • Totally free
  • Available to anyone, even non-Chase customers
  • Comes with account alerts so you can stay on top of changes to your credit

Cons of Chase Credit Journey

  • Only gives access to one type of credit score & report, so data isn’t complete
  • Credit alert service doesn’t come with insurance
  • Lenders don’t typically use TransUnion scores for approval, so it’s not totally relevant

Final Thoughts

Having good credit is imperative to your financial well-being, and monitoring your credit score is a great way to stay on top of your financial health.

Whether you’re a Chase customer or not, using Chase Credit Journey is a great way to check your credit score. It’s updated weekly and costs absolutely nothing.

Head on over to Chase.com or sign up here if you’d like to start your journey to creditworthiness.

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2 Comments on “Chase Credit Journey Review”

  1. I’ve never used this tool. But I am all for any tool which allows the user the ability to monitor credit.

    Credit is so important in lowering the cost to borrow.

  2. Matches Credit Karma pretty closely. Showed mine was 815 on Chase Journey and 813 and 815 on Credit Karma. Doesn’t matter too much since I’ll never borrow another dollar in my life but it might help catch fraud.

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