SmartCredit Review: Build And Boost Your Credit Score

SmartCredit is a fintech app that helps you improve your credit score, search for loans, and access valuable privacy and fraud tools. 

A good credit score can help you with everything from renting an apartment to qualifying for credit products at the best possible interest rates, which can save you money over time. 

But is it worth using paid tools like SmartCredit? We cover the key features, pricing, and pros and cons in this full SmartCredit review.

What Is SmartCredit?

SmartCredit is a financial technology company that offers a suite of credit monitoring, money management, and privacy tools. SmartCredit uses the Vantage 3.0 credit score, which draws on the three major bureaus: Experian, Equifax, and TransUnion. It does not provide the FICO score. 

What Does It Offer?

3B Report & Scores

SmartCredit Premium allows you to access your credit score and report from the three major credit bureaus once per month. You can also get this with the Basic Plan, but it's a $29.95 add-on. SmartCredit's credit reporting services do not show up as a hard or soft inquiry on your bureau, so there is no impact to your credit score. 

Credit Tools

SmartCredit offers the following credit score monitoring tools: 

• Smart Credit Report & Scores: Smart Credit's simple and innovative credit report display allows you to interact directly with your creditors. This includes fixing credit report problems, reporting fraud, and asking questions.
  
• ScoreTracker: Monitors your Credit Score, Auto Score, Insurance Score, and Hiring Risk Score.
• ScoreBuilder: Allows you to see negative items on your credit report and report inaccuracies directly to financial institutions and credit bureaus using Action buttons.
• ScoreBoost: A Smart Credit tool that identifies the best times to apply for a loan by analyzing your credit card activity.

myLona Offers

As you build and track your credit score using SmartCredit's tools, you'll have an opportunity to shop for loans and bank accounts through myLona Offers. Here's a list of loan types available through SmartCredit:

• Personal Loans
• Credit Cards 
• Student Loans 
• Auto Loans & Refinances 
• Home Loans 
• Business Loans 
• Checking Accounts 
• Savings Accounts

Money Management 

SmartCredit makes it easy to manage your money in one location by connecting to your various credit card and bank accounts. SmartCredit connects to over 60,000 financial institutions, your accounts should be supported. 

Privacy & Fraud Tools

SmartCredit offers tools that you can use to prevent fraud and protect your privacy. Included in both service plans is $1MM in Fraud Insurance, which can help you protect your household against identity theft. 

Are There Any Fees?

SmartCredit is a paid service, so while you can sign up for a 7-day trial for only $1, you must choose from one of two monthly service plans. SmartCredit Basic is $19.95 monthly, and Premium, which allows you to track your credit activity across the three major bureaus, is $29.95. 

How Does SmartCredit Compare?

SmartCredit has a lot to offer, but so do other credit reporting tools, which may be less expensive. 

Credit Karma is a free service that allows you to monitor your Equifax and TransUnion credit scores. Like SmartCredit, it will let you know about credit offers that you may qualify for. The best part is that it's 100% free. myFICO provides users with access to all three credit bureaus, and offers a limited free plan along with more comprehensive paid plans. 

How Do I Open An Account?

You can get started with SmartCredit by clicking on the orange "Sign Up" button on its website homepage. From there, you'll be asked to provide some basic information, including your name and address. SmartCredit will also require you to provide your Social Security Number (SSN). 

Once your profile has been created, you'll be asked to choose a service plan. You won't be charged immediately as there is a 7-day trial period during which you can access SmartCredit's services. Once your account has been set up, you'll be able to use the tools associated with your plan. 

Is It Safe And Secure?

Yes, SmartCredit is safe to use. For starters, the information you provide, including your SSN, is always encrypted. According to SmartCredit, the company uses the highest levels of encryption. When you connect your bank accounts using SmartCredit's Money Manager feature, your accounts remain in read-only status, so no one can access your accounts to transfer funds or pay bills. Finally, SmartCredit is level 1 compliant with the Payment Card industry security standard (PCI DSS). 

Contact

You can contact SmartCredit via an online contact form, or by calling 1(877) 372-3895 during business hours, which are Monday to Friday, 8 AM to 7 PM CST.

Is It Worth It?

SmartCredit could be worth it if you plan to make use of most of its features, including money management, privacy and fraud tools, and the credit score tools. That said, after the 7-day trial, it's quite costly, especially when you consider that you can join Credit Karma for free, and myFICO offers a free plan, albeit a limited one.

If you just need to track your credit score, I recommend trying out a cheaper platform, like Credit Karma, first. If you know you'll benefit from the added features SmartCredit offers, then it might be well worth the price. 

Check out SmartCredit here >>

Features