WalletHub originally called CardHub – a credit card comparison company is owned by Evolution Finance, a company founded in 2008, according to Bloomberg. They launched in 2013, and are based in Washington DC.
A lot of financial resources and tools have been designed to solve different financial problems humans might encounter, all in a bid to become financially stable and eventually successful. One of such great tools is WalletHub; free to use, easy to navigate, provide you with credit report and score whenever you need it, updates daily, awesome financial calculator, and other additional educational resources available for use at your discretion.
Although a lot of people might say, WalletHub doesn’t have tools for budgeting, or even monitoring your individual accounts, you shouldn’t allow that turn you off, because, they are one of the better, free, and easy to use credit reporting apps available out there. Here are some of their key features.
- They generate credit scores based on data received from Transunion. They also use the VantageScore model (more specifically, VantageScore 3.0) to provide their scores. This particular model is different from FICO scores. The VantageScore model will rather, give you a rough estimate of where you stand.
- Their website is easy to use. They have all the tabs you will mostly be needing lined up at the top, making it easy for you to switch between your score, analysis, and report. They offer three specific notification options, with alerts you can either choose to receive daily, weekly, or monthly; the choice is yours. You can direct this alerts to your phone, or your email. They’ll also monitor and report to you any changes in credit report instantly.
- They also have this WalletLiteracy test you take to help determine how knowledgeable you are on a number of finance related topics. You can also see how your scores compares to the average user.
How Does it Work?
WalletHub is FREE to use. While setting up your account, you’ll be required to provide some personal information like your date of birth, residential address, last four digit of your social security number…and so on, for the service to work.
They’ll use the details you’ve provided to pull up data automatically on your behalf, including your credit report from TransUnion. With the information on your credit card report, like loans and credit cards in your name, account balances and late payments you’ve made, WalletHub will be able to monitor your account well. They’ll analyze your report, and help you understand why it is what it is using factors such as, payment history, account age, hard credit inquires…and so on.
No need to be worried about the safety of all your personal information. They are secured. The way WalletHub works, let’s assume a hacker gets into your account, he won’t be able to move your money from within WalletHub.
While most people will put aside reading WalletHub’s privacy statement, I’d advise you do so as to fully understand how your data is used.on’t read WalletHub‘s privacy statement and terms of services, you should do so if you have any doubts about how your data may be used.
See Also: How to Stop Overspending
If at all for any reason you’d want to delete your account, the privacy statement indicates that you can at your own discretion, but that residual copies of your information may still be found on their server for a while, but be rest assured that your information will be deleted fully within a short period of time.
In the aspect of managing your finances, I’d recommend WalletHub. With them, you will always know what is happening with your account(s) at any point in time. They’ll help you meet your financial goals and more. WalletHub certainly is the best bet.