Consumer Finance

Chase Offering Free Credit Scores With Chase Credit Journey

Chase Card Services, a division of JPMorgan Chase & Co., announced Wednesday (Dec. 21) the launch of a new website that helps consumers across the U.S. see, understand and make decisions based on their credit score.

The new service, dubbed Chase Credit Journey, is aimed at helping all consumers make more confident financial decisions. “Knowing your credit score is the first step on your financial journey,” said Pam Codispoti, president of Chase Branded Cards, in a press release announcing the new initiative. “Our new site helps you understand your credit score and gives you tips on how to improve it — so you can achieve your financial goals.”

Some of the features of Chase Credit Journey include VantageScore 3.0 powered by TransUnion, which is based on information from a person’s credit report and refreshed weekly; analysis of a person’s credit score, as well as a comparison to other Americans’ scores; a score simulator, which shows how certain actions can affect their credit score; a summary of total credit balance, credit utilization rate and late payments across credit accounts; a history of customers’ credit scores in a graph, starting with their credit score on the day they sign up and continuing for 12-month intervals; and tailored insights into factors behind the credit score, to help consumers manage their credit health. The service is available to consumers for free, regardless if they are a customer of Chase or not.

The move comes at a time that Chase is trying to make things easier for consumers. In November, it announced Chase customers can start paying for their Starbucks and electronics at Best Buy via Chase Pay, the bank’s new digital payment service that works in stores, online and via an app. The Chase Pay app now works at greater than 7,500 participating Starbucks at locations in the U.S. and close to 1,400 Best Buy stores.Chase said in a press release that customers with both Android and iPhone devices can download Chase Pay by using their login and password for Chase.com. The Chase account information will automatically be uploaded to Chase Pay, eliminating one setup step.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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