SmartCredit.com offers an interactive credit report that’s easier to read and understand than a traditional credit report. Rather than reading scrolling through pages of account history, the SMART credit report lets you flip through your credit report information piece by piece as if you were turning the pages of a book.
What Can You Do on SmartCredit?
SmartCredit.com lets you take a variety of actions based on the information on your credit report. For example, you can:
These SMART actions are sent directly to the creditors or credit bureaus electronically and their response is sent back the same. The benefit: you don't have to worry about having the right address or account number.
You can easily gauge your credit standing with a variety of credit scores: a traditional credit score, an auto score, insurance score, and employment score. To my knowledge, no other source provides you with such a holistic view of your credit standing. (CreditKarma.com provides a credit score, VantageScore, and insurance score for free no credit card required, but you don't get to see your credit report.)
The future score simulator lets you gauge how your credit score would improve if you took specific SMART actions against your credit, e.g. having a debt removed via goodwill letter.
Subscribing to SmartCredit.com will also give you access to a few other apps like the Jean Chatzky Score Builder, which helps you improve your credit score in 120 days, and the Debt Negotiator system for settling debts on your own.
SmartCredit.com has two membership options. The lower-priced $19.95 per month option gives you access to one credit report, credit score, and hiring risk update per month and the ability to create five “SMART” actions. The second option, priced at $29.95, gives you unlimited updates to your credit report, credit score, and hiring updates and an unlimited number of actions.
SmartCredit.com offers a 5-day trial and 30 days risk-free. If you cancel within 5 days, you pay nothing. If you cancel within 30 days, you can request a refund of what you’ve been charged. You don’t get access to your SMART credit report after you’ve canceled your membership.
Drawbacks of Using SmartCredit.com
The scores you get are SmartCredit.com’s own calculated scores – not the FICO Score, VantageScore, or proprietary scores from credit bureaus. Even SmartCredit's FAQ says these scores are for educational purposes only, meaning you can use them to get a feel for where you stand, but don't assume a mortgage approval based the score you get at SmartCredit.com
The trial is only 5 days, which is enough time to view your score and your report, but maybe not enough to really delve into the details or take action on what you find. To cancel, you have to call during business hours, e.g. on your lunch break or ride home from work.
While SmartCredit.com presents an interesting and easy-to-understand way to look at your credit report and the $19.95 price is comparable to what you'd pay for a credit report and score from a bureau. While SMART actions can be completed with templates you find on the internet or letters you create on your own, the SMART button submits directly to your creditor on your behalf.
It would be nice if there was an option to just view your credit report and scores, for a fee of course after you've finished your trial.
Disclosure: The company provided free access to this service for review purposes. For more information, please see our Ethics Policy.