Get your credit right

A credit score is between 300 and 850, and represents your credit risk, or the likelihood you will pay your bills on time.

Cambio provides a VantageScore from Transunion. Factors include:

• Payment history (40%, extremely influential): are you paying your debt and bills on time
• Credit age and mix (21%, highly influential): the age and type of loan accounts you have
• Credit utilization (20%, highly influential): the amount of credit you’ve used
• Balances (11%, moderately influential): current unpaid debt
• Recent credit applications (5%, less influential): how many new applications for credit have you applied for recently
• Available credit (3%, less influential): how much of your available credit are you using

A good credit score can:

• Get you lower interest rates on loans
• Help you refinance high-interest loans
• Help you get approved for rent
• Help you borrow money for a home
• Get you a lower monthly premium on insurance like auto insurance
• Impact your chances of getting a job

Most traditional banks and lenders want a credit score above 670 to be considered reliable

Hard inquiries (aka hard pulls) generally happen when a bank or lender, checks your credit when making a lending decision for a credit card or loan. A hard inquiry could lower your scores by a few points, but multiple hard inquiries in a short period could have a bigger impact on your score.

Soft inquiries (aka soft pulls) generally happen when a person or company checks your credit and DOES NOT impact or hurt your credit score. Cambio only performs soft inquiries when providing you access to your credit report.

All users get the following services for free from Cambio:

• Money Manager: tool to help you budget and manage your money
• Credit Score: get a Transunion VantageScore for the first 30 days of your membership
• Automated credit analysis: understand what is hurting or helping your credit score

Credit Manager helps you identify items hurting your score. You are given the tools to put you in control to resolve inaccurate items that are impacting your credit score with the bureaus.

Using Credit Manager does not guarantee an increase in your credit score, and individual results may vary.

Credit Builder is a smart way to build credit and grow your savings. Here’s how it works:

1. We put aside money in a locked savings account and issue you a 12-month small loan.
2. Each month you make a payment, we report that payment to the bureaus. These payments help you build your credit!*
3. After your loan Is paid off after 12 months, you’ll have paid off your loan and built a saving for yourself.

The best part is you can see improvements on your score because you show payment history, credit age/mix, credit utilization and balances.

Using Credit Builder does not guarantee an increase in your credit score, and individual results may vary. Other factors can affect your credit score, including performance on other credit accounts.

Identity Theft Insurance is a service included for Plus and Premium members. It helps you restore your identity when your identity is compromised. With Identity Theft Insurance, you get:

$1M Identity Theft Reimbursement: Our Identity Theft Reimbursement, with zero deductible, reimburses you for expenses related to identity theft restoration, including replacement of documents, traveling expenses, loss of income, child/elderly care (incurred as a result of identity restoration), fraudulent withdrawals from a bank account, and legal costs.

Lost Wallet Assistance: Our restoration specialists will help you quickly cancel and replace all items commonly carried in wallets and purses including:
• Credit cards
• Debit cards
• Passports
• Military identification cards
• Driver’s license
• Social Security cards
• And More!

Identity Restoration Services: Our Identity Restoration service assists with the identity restoration process by providing step-by-step instructions you can easily follow to repair and restore your identity.

Cambio does not require a credit check to open a membership.  As a part of joining Cambio, you do get access to a free credit report via Transunion.  This will NOT impact your credit score, since this is a soft pull of your credit.