6 Facts About CreditWise from Capital One

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It seems like every few months we’re hearing about a new data breach that has compromised our personal information. The Equifax breach from a few years ago, for example, affected nearly half the United States population.

Even though we’d like to think our information is secure, vigilance is crucial. It’s important that you always have a good understanding of what’s on your credit report.

Capital One is making it easy for everyone to stay in the know with CreditWise from Capital One. This service, which is included for free with every Capital One card, you’ll be notified if there are any changes to your credit report. It’s an easy and free way to keep your credit safe.

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INTRO APR on Purchases
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INTRO apr on Balance Transfer
0% (up to 18 months)
Regular APR
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Annual Fee
$0
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  • Offers Available for Excellent and Good Credit
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The Capital One Credit Tracker was rebranded as CreditWise from Capital One a few years ago. Even though Capital One was already helping millions of consumers track their credit reports, they wanted to do even more. The rebrand not only included a new name, but it provided a launching pad for many new features.

Capital One wanted to help consumers with more than just a credit score. They wanted people to understand exactly what goes into that score and how certain factors can affect it, both good and bad.

“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,” said Sarah Strauss, Managing Vice President of U.S. Card at Capital One.

2. CreditWise Includes TransUnion VantageScore 3.0

Not only is CreditWise free for anyone to use, even those without a Capital One card, but you will also have unlimited access to check your TransUnion VantageScore 3.0.

With the new technologies that Capital One has implemented, you will become updated faster when your credit score changes or when something pops up on your credit report. You will also have the chance to predict the effects that certain actions will have on your TransUnion score.

3. Simulate How Different Factors Will Affect Your Credit Score

One of the coolest features of the new CreditWise from Capital One is their simulator. Through their iphone or Android app, you will have the ability to understand how certain factors might impact your credit score.

Maybe you are planning to pay down $2,000 on your credit card, which will increase your available credit and decrease your credit utilization. Maybe you are just thinking about asking for a credit line increase. With CreditWise from Capital One, you will be given a best guess on what the impact on your credit score will be.

CreditWise Simulator from Capital One
The CreditWise Simulator helps people understand how certain factors might impact their credit score 

4. Receive Weekly Updates on Your Credit Report

Staying on top of your credit report is one of the most important things you can do to make sure your information stays in the right hands. With CreditWise from Capital One you will receive updates each time something new happens with your credit report. It might be a new inquiry on your account or because you have something delinquent. Whatever the case might be, you’ll know about it.

5. CreditWise Credit Scores Shouldn’t Be Relied Upon Exclusively

The information that you receive from CreditWise is incredibly valuable to just about anyone. However, it’s important to remember that it’s not the only piece of the puzzle when it comes to your financial picture.

It’s a great way to measure your financial health, but you need to consider other things if you are looking to take out a loan. The reason is simple. Your lender is going to look at more than just your TransUnion VantageScore numbers.

6. Capital One Offers a Wide Range of Products Offering CreditWise

Capital One is one of the largest issuers of credit cards in the United States. Even though CreditWise is no longer exclusive to cardholders, it’s still a valuable benefit to have with a Capital One card.

Those with excellent credit can use it to monitor for any negative activity that could harm them. Anyone with less than ideal credit can use the service to monitor progress as they look to rebuild their credit score.

Keep reading to find out more about the Capital One cards that offer CreditWise.

Best Capital One Credit Card With CreditWise

Anyone looking to have a travel rewards credit card in their wallet will love the Capital One Venture Rewards credit card. When you sign up you will receive 50,000 miles after spending $3,000 on purchases within three months. This is worth $500 in travel. Then each time you use your card you will receive 2x miles per dollar spent.

Capital One® Venture® Rewards Credit Card

INTRO APR on Purchases
N/A
INTRO apr on Balance Transfer
N/A
Regular APR
14.74% - 24.74% (Variable)
Annual Fee
$0 intro for first year; $95 after that
Rewards Program
Venture® Rewards
Bonuses & Rewards
  • + Earn 2X miles on every purchase, every day. Plus earn 10X miles on thousands of hotels; learn more at hotels.com/venture
  • Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel
  • Named ‘The Best Travel Card' by CNBC, 2018
  • Receive up to $100 application fee credit for Global Entry or TSA Pre✓®
  • Fly any airline, stay at any hotel, anytime; no blackout dates
  • No foreign transaction fees
  • + Miles won't expire for the life of the account and there's no limit to how many you can earn
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When it comes time to redeem your miles you can do so on any travel purchase. You aren’t tied down to one airline or specific travel partners. There are no blackout dates and no restrictions. That’s incredibly valuable given how much airlines have restricted award availability and devalued their frequent flyer programs recently.

This card comes with no foreign transaction fees, but it does have a $95 annual fee, which is waived the first year.

Second Best Capital One Credit Card With CreditWise

If you like the idea of having a travel rewards card, but would prefer to have no annual fee, the Capital One VentureOne Rewards card is an option. When you sign up you will receive a smaller 20,000-mile bonus after spending $1,000 in purchases within three months. Plus, you will earn 1.25 miles per dollar spent.

Capital One® VentureOne® Rewards Credit Card

INTRO APR on Purchases
0% intro on purchases for 12 months
INTRO apr on Balance Transfer
N/A
Regular APR
13.74% - 23.74% (Variable)
Annual Fee
$0
Rewards Program
Venture® Rewards
Bonuses & Rewards
  • + Earn 1.25X miles on every purchase, every day and pay no annual fee. Plus earn 10X miles on thousands of hotels; learn more at hotels.com/venture
  • + Miles won't expire for the life of the account and there's no limit to how many you can earn
  • Enjoy a one-time bonus of 20,000 miles once you spend $1,000 on purchases within 3 months from account opening, equal to $200 in travel
  • Enjoy a low intro APR on purchases for 12 months; 13.74%-23.74% variable APR after that
  • Travel when you want with no blackout dates
  • Fly any airline, stay at any hotel, anytime
  • No Foreign Transaction Fee
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Are you planning to make a large purchase in the near future? If so, then this might be a great card to have. You will receive an introductory 0% APR on purchases for the first 12 months. This will give you plenty of time to pay off your item before accruing interest.

Besides not having an annual fee, the Capital One VentureOne Rewards credit card also comes with no foreign transaction fees and all the benefits of a Visa Signature card.

Alternative Capital One Credit Card With CreditWise for Fair Credit

The previous two cards were for people with excellent credit. However, if your score is a little less than perfect, then the Capital One QuicksilverOne card might be best. With this card you are going to earn 1.5% cash back on every purchase you make. Because this card has a flat cash back rate, you don’t need to remember a bunch of rotating categories.

Capital One® QuicksilverOne® Cash Rewards Credit Card

INTRO APR on Purchases
N/A
INTRO apr on Balance Transfer
N/A
Regular APR
24.99% (Variable)
Annual Fee
$39
Rewards Program
Capital One® Cash Back Rewards
Bonuses & Rewards
  • % Earn unlimited 1.5% cash back on every purchase, every day
  • + Earn cash rewards without signing up for rotating categories
  • + Get access to a higher credit line after making your first 5 monthly payments on time
  • + No limit to how much cash back you can earn, and cash back doesn't expire for the life of the account
  • Monitor your credit profile with the CreditWise® app, free for everyone
  • $0 fraud liability if your card is ever lost or stolen
  • Help strengthen your credit for the future with responsible card use
  • Get customized alerts and manage your account with the Capital One mobile app
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Capital One Credit Card With CreditWise for No Credit

If you’ve had some struggles with your credit score in the past, then a card like the Capital One Secured Mastercard might be for you. This card is meant for people trying to get their credit score back on track by making good choices and establishing positives habits moving forward.

You will start with a credit line of $200 when you make a security deposit of $49, $99 or $200. Then when you make your first five payments on time you will receive a bump in your credit limit without the requirement of a higher deposit. The Capital One Secured Mastercard is a great way to build your credit with no annual fee.

Allow CreditWise to Keep You In The Know

CreditWise from Capital One is a great program to help you stay on top of your credit. Not only will you have the chance to monitor your credit report for inaccuracies, but you will also have a continuous look into your credit score. The best part is that the service is free and comes with any of Captial One’s excellent credit cards, like the Venture Rewards and QuicksilverOne.