FAQ Category: Other
Does MyPDCU Credit Score & Score Simulator Offer Credit Report Monitoring?
Yes. Alerts are provided via the MyPDCU app, digital banking, and email. The user can update their email preferences for emails by navigating to “Resources” and the “Profile Settings” section. MyPDCU Credit Score & Score Simulator will provide the following monitoring alerts: An account has been included in bankruptcy. An account is reported as delinquent. A fraud alert has been ...
Continue ReadingWill Accessing MyPDCU Credit Score Impact My Credit and Potentially Lower My Credit Score?
No. Checking your MyPDCU Credit Score is always a “soft inquiry,” which does not affect credit scores. Typically, ‘Hard inquiries’ are used by lenders to make decisions about their creditworthiness when Members apply for loans. Multiple hard inquiries can lower a credit score.
Continue ReadingWhat if I Have No Credit History or Poor Credit and Don’t Qualify for Any Products?
Suppose a People Driven Credit Union member has no credit history and/or a low credit score. In that case, they will be shown educational articles or products that cater to those credit score profiles (if offered).
Continue ReadingWhy am I Shown Offers and Educational Articles?
The MyPDCU App features a section with product offers and financial education articles. Based on their MyPDCU credit score information, Members may receive PDCU prequalified offers (invitation to apply) on products that may interest them. Sometimes, these offers may have lower interest rates than the products they already have or can save them money on their monthly payments. The educational ...
Continue ReadingWhat if the Information Provided by MyPDCU Credit Score Appears to be Wrong or Inaccurate?
The MyPDCU Credit Score is not intended to be comprehensive and may not provide all information about user accounts. We encourage Members to obtain free credit reports from www.annualcreditreport.com to look for incorrect information or discrepancies across all three bureaus. Each bureau has its process for correcting inaccurate information. Still, users can “File a Dispute” by clicking on the “Dispute” ...
Continue ReadingHow Does People Driven Credit Union Keep Members’ Financial Information Secure?
People Driven Credit Union has implemented bank-level encryption and security policies to keep our users’ data safe and secure. People Driven Credit Union also has a sophisticated system that scans for and thwarts online bots, intrusions, and attacks. People Driven Credit Union’s policies and processes are reviewed annually by a third-party auditor and verified by multiple digital banking platforms’ Security ...
Continue ReadingWill People Driven Credit Union Use the MyPDCU Credit Score & Score Simulator to Make Loan Decisions?
No, People Driven Credit Union uses our own lending criteria when making final loan decisions and has no access to MyPDCU Credit Score & Score Simulator. However, through MyPDCU Analytics, we can see what Members view and engage with.
Continue ReadingWhat are the different credit score ranges used by MyPDCU Credit Score & Score Simulator, and how are they categorized?
MyPDCU Credit Score & Score Simulator uses five standard credit score ranges to help you quickly see where your credit stands and what it means for loan rates and credit offers. You may be new to credit or have more serious issues with your credit history. However, loans are still possible. Unfortunately, they usually come at much higher interest rates. ...
Continue ReadingWhy Do Credit Scores Differ?
Credit scores often differ because lenders pull data from different credit bureaus and use different scoring models to evaluate the same information. Here’s why your credit scores can vary: Three major credit bureaus — Equifax, Experian, and TransUnion each keep their own record of your credit history. Lenders may check one, two, or all three, so the data isn’t always ...
Continue ReadingHow Does MyPDCU’s Credit Score Differ from Other Credit Scores?
MyPDCU Credit Score uses information from TransUnion and applies the VantageScore 3.0 scoring model. Other credit scores you may see elsewhere can come from a different credit bureau or use a different scoring model, which means the number may not always match exactly. Why scores can be different Different credit score providers may use different data sources and different formulas ...
Continue ReadingHow Often Are Credit Scores Updated?
People Driven Credit Union updates and displays credit scores in digital banking every seven days. If you want a more current view, you can manually refresh your score and full credit report once every 24 hours. How to refresh your score Log in to the MyPDCU app or online banking, open the detailed Credit Score Dashboard, and click “Refresh Score.” ...
Continue ReadingWhat is the Score Simulator Tool?
The Score Simulator Tool is an interactive feature in the MyPDCU app that lets you see how certain financial actions may affect your credit score. It can help you explore possible outcomes before you make a decision. What it can help you estimate You can use the Score Simulator to test scenarios such as paying down a credit card balance, ...
Continue ReadingWhat is the MyPDCU Credit Report?
The MyPDCU Credit Report is a free tool available in the MyPDCU app and online banking that helps you review important details from your credit file. It can be a useful way to stay informed about your credit and monitor the information tied to your borrowing history. What it shows Your MyPDCU Credit Report may include current and previous loans ...
Continue ReadingIs There a Fee to Use Credit Score & Score Simulator?
No. MyPDCU Credit Score & Score Simulator is free for People Driven Credit Union members, and no credit card information is required to register. How to access it You can access MyPDCU Credit Score & Score Simulator through the MyPDCU app or online banking. Once you are signed in, the tools are available as part of your digital banking experience. ...
Continue ReadingIs my money safe in a Money Market Savings Account?
Yes. Money in a People Driven Credit Union Money Market Savings Account is federally insured by the National Credit Union Administration, or NCUA, to at least $250,000 per member, per ownership category. How NCUA insurance helps protect you NCUA insurance protects eligible deposits at federally insured credit unions. Coverage limits apply by ownership category, so your total protection may vary ...
Continue Reading
