CreditWise from Capital One Now Available to Everyone

Capital One is first major bank to offer free credit score
monitoring app to all;

Wants every American to be on
the path towards credit success

MCLEAN, Va.–(BUSINESS WIRE)–To help more Americans take control of their financial well-being,
Capital One® is unveiling CreditWise®
– a free and easy to use mobile app and website that enables more
consumers to easily see and understand their credit profile, track it
and learn how to improve it. With the launch of CreditWise, Capital One
is the first major bank to offer a credit monitoring tool – free of
charge – to everyone, even people that don’t have a product with Capital
One. Capital One’s new CreditWise is available in the Apple
App Store
and online at www.capitalone.com/creditwise.


“Knowing your credit score, understanding the things that can impact it,
and taking steps to help increase it, is empowering and can be one of
the most important things you can do to improve your financial health,”
said Bill Hardekopf, CEO of LowCards.com. “A higher credit score can
benefit you in so many areas of life. CreditWise will make it easier for
consumers to manage their credit score and achieve a more stable
financial position.”

CreditWise, an updated new version of Capital One’s popular Credit
Tracker, is designed to offer a user-friendly experience that makes
keeping on top of your credit easy. Key features include:

  • Unlimited access to your TransUnion credit information with no
    negative impact on your score
  • Weekly updates of your TransUnion
    VantageScore 3.0
    credit score
  • Notifications when there’s a change to your credit report
  • Credit simulator that allows you to see the potential impact of
    financial decisions before you make them
  • An overview of key factors that impact your credit score
  • A full list of both open and closed lines of credit, organized by
    account type (e.g., real estate, credit cards, personal loans, etc.)
  • Balance details for both open and closed accounts

According to a recent Capital One survey, less than one-third of
Americans (31 percent) know their credit score and 37 percent haven’t
checked their score in more than a year. With CreditWise, Capital One
aims to help people understand, improve and monitor their credit score.

“We first launched Credit Tracker in 2014 to help offer guidance to our
U.S. credit card customers. It was an incredibly popular and helpful
tool for our cardholders, and we decided to expand the experience with
CreditWise to enable everyone to have a convenient and transparent way
to monitor their score for free,” said Sarah Strauss, Managing Vice
President of U.S. Card at Capital One. “CreditWise gives users so much
more than just a score – it helps them understand what makes up their
score, what makes it go up, what makes it go down, and focuses on
actions they can take to improve it. With CreditWise, we have our
customers’ backs when it comes to their credit health.”

“With CreditWise, Capital One is proactively addressing the credit score
knowledge gap and empowering consumers with information they need to
make well-informed financial decisions,” said Patty Hasson, Executive
Director for Clarifi
– a non-profit financial counseling organization. “Making this tool
freely available can have a real and positive impact, helping consumers
across the United States gain a better understanding of credit scores
and the key factors that go into every person’s score. It is a useful
tool that can help take some of the mystery out of what is a very
important number in every U.S. consumer’s life.”

Check out more about CreditWise at www.capitalone.com/creditwise
and watch a demo
video
that shows key features of the CreditWise experience. An
Android version of CreditWise will be available soon.

About Capital One

Capital One Financial Corporation (www.capitalone.com)
is a financial holding company whose subsidiaries, which include Capital
One, N.A., and Capital One Bank (USA), N.A., had $217.7 billion in
deposits and $334.0 billion in total assets as of December 31, 2015.
Headquartered in McLean, Virginia, Capital One offers a broad spectrum
of financial products and services to consumers, small businesses and
commercial clients through a variety of channels. Capital One, N.A. has
branches located primarily in New York, New Jersey, Texas, Louisiana,
Maryland, Virginia and the District of Columbia. A Fortune 500 company,
Capital One trades on the New York Stock Exchange under the symbol “COF”
and is included in the S&P 100 index.

Contacts

Capital One
Angela Solomon, 646-628-7188
angela.solomon@capitalone.com