Chase has launched a free credit-education service called Credit Journey, allowing you to track your credit score and other metrics tied to your credit health.
You don’t have to be a Chase cardholder to join. So the service is similar to Discover’s Scorecard service (launched last year), in that it’s open to all.
Is it worth signing up for? After all, Free credit-score tracking services have been around for years (Credit Karma and Credit Sesame, for example).
We signed up to take a closer look.
Features Credit Journey offers
Credit Journey allows you to view the following:
- A credit score: It’s your VantageScore version 3.0 from TransUnion (updated weekly)
- Your current credit card balances and credit utilization
- Inquiries in the past two years
- Accounts opened in the past two years
- Age of your credit history
- Late payments reporting
- Chase cards you’re pre-approved for
- A score simulator, which predicts what your score will do if you make changes to your credit profile — for example, raising your card balance, adding a loan, cancelling a card, paying off your balances.
How it compares to other services
There are plenty of other free-score services (see the table below). And there’s very little that Chase’s Credit Journey offers that others don’t. Its score is the VantageScore version 3.0 that Credit Sesame and others offer. It doesn’t offer a FICO score like Discover’s Scorecard does. Credit Karma comes with extra bells and whistles, such as VantageScores from both TransUnion and Equifax, as well as free credit reports.
Free credit-monitoring sites
|Comparing sites that offer free credit scores/reports|
|Free score types||Free credit report?||Frequency of score/report updates||Explanation of score factors||Free credit monitoring||Credit score prediction/simulator tool?|
|Credit Karma||VantageScore 3.0 from TransUnion and Equifax||YES. From TransUnion and Equifax||Every 7 days||YES||YES, via TransUnion||YES|
|Credit Sesame||VantageScore 3.0 from TransUnion.||NO. Can pay per viewing ($9.95 for TransUnion report) or via monthly subscription (starts at $7.95/month for monthly access to TransUnion, Equifax and Experian reports).||Monthly||YES||YES, via TransUnion||NO|
|Quizzle||VantageScore 3.0 from TransUnion.||YES. TransUnion report.||Every three months (every month for paid accounts)||YES||NO. Can pay for monitoring plan (starts at $8/month)||NO|
|My.CreditCards.com||VantageScore 3.0 from TransUnion||YES. TransUnion report.||Monthly||YES||YES, via TransUnion||NO|
|Credit.com||Vantage 3.0 from Experian; Experian National Equivalency Score||No. Must sign up for access to Experian report with Experian CreditWorks ($1 for 7-day trial, then $21.95/month)||Monthly||YES||NO. Requires paid plan.||NO|
|Mint.com||Equifax Credit Score (proprietary model used by Equifax)||NO. Can get Equifax credit report via Mint Credit Monitor ($16.99/month).||Quarterly score. Monthly for paid subscribers. Monthly credit report via Mint Credit Monitor (paid)||YES||NO. Three-bureau monitoring via Mint Credit Monitor.||NO|
|Wise Piggy||VantageScore 3.0 from TransUnion||NO. Provides “Account Summary”||Monthly||YES||NO||NO|
|Lending Tree||VantageScore 3.0 from TransUnion||NO||Monthly||YES||NO||NO|
|Capital One's CreditWise (for Capital One cardholders only)||VantageScore 3.0 from TransUnion||YES (TransUnion)||Every 7 days||YES|
|Discover's Scorecard||FICO score (Experian)||NO||Every 30 days||YES|
|Chase's Credit Journey||VantageScore 3.0 from TransUnion||NO||Weekly||YES|
Still, there are a couple things Chase’s service offers that could be of interest:
- Your pre-qualified Chase offers: There’s been some hopeful buzz that these offers may offer a way around Chase’s 5/24 rule, which blocks applicants from Chase products if they’ve opened five cards (with any bank) in the past two years. The hope is that offers you technically wouldn’t otherwise qualify for may show up on Credit Journey, which would be a huge incentive for using it.
- Accounts opened in the past two years: Most other free-credit-score sites show only your inquiries. Credit Journey shows “accounts opened,” which can show you how close you are to running afoul of the 5/24 rule.
Should you sign up?
Credit Journey is a free service, and checking your score with it results in only a soft credit pull. So you’re not out any money for signing up, nor will you face credit damage.
While it may not outdo other similar services, Credit Journey may become more robust over time – and give you an inside edge on card approvals. But if you don’t want another free-credit-score site to keep track of, but still want to see your Chase preapprovals, other soft-pull preapproval tools exist.