Score Depot
Score Depot is a credit monitoring platform that offers personalized credit insight and identity theft protection services. Founded in 2022, the online platform is available to consumers nationwide. Score Depot credit services include credit scores from the three main credit bureaus, TransUnion, Experian, and Equifax; as well as a personalized 120-day plan to help build your credit. Score Depot identity theft protection services include the ability to instruct websites and data brokers to remove your information.
Top Ranked Companies
The Good
- Online Credit Monitoring Platform
- Credit Monitoring and Building Services
- Money Manager Service
- Identity Theft Protection Services
- Credit Scores from Main Credit Bureaus
Online Credit Monitoring Platform
Score Depot is an online credit monitoring platform. While an online approach to credit monitoring and building may not be for everyone, it can provide faster insights and allow you to take more control of your credit with personalized insights. In addition, an online platform removes working with a third-party, such as a credit counselor, which may be preferable for consumers who want quick credit overviews.
Credit Monitoring and Building Services
Score Depot provides the following credit services:
- ScoreTracker — Score Depot’s application that lets you see all your different scores and how each is progressing.
- ScoreBuilder — Score Depot’s credit score application program that creates a 120-day personalized plan to help you understand and improve your credit score.
- ScoreBoost — Score Depot’s application that provides personalized insights on the best time to apply for a credit card or a loan (auto loan, personal loan, mortgage, etc.).
- Credit monitoring alerts — Score Depot provides daily credit monitoring and purchase alerts to your phone.
All of the applications outlined above are available to Score Depot members. The platform pulls in real-time credit and financial information from the main credit bureaus (TransUnion, Experian, and Equifax) and your personal banking institution(s). It’s important to note that while Score Depot provides insights and suggestions to build your credit, it’s not a credit repair service; the platform won’t work directly with credit bureaus, creditors, or financial institutions to remove errors and/or clear up your credit history.
Money Manager Service
In addition to credit services, you can manage all of your financial accounts in one place through Score Depot. With your permission, Score Depot automatically finds your online accounts and pulls in information. The platform compiles all your financial information and tracks/updates your account statements, transactions, and payments due; information is updated every 24 hours.
Identity Theft Protection Services
Score Depot also provides identity theft protection services through its PrivacyMaster application. Through PrivacyMaster you can get an overview of where your personal information appears online and you can instruct websites to remove your information. It’s important to note that even if you instruct your information to be removed from a website, it may reappear again in the future. In this case, PrivacyMaster provides alerts for if/when your information reappears.
Credit Scores from Main Credit Bureaus
Score Depot provides credit scores from the three main credit bureaus: TransUnion, Experian, and Equifax. It’s beneficial to know that Score Depot provides credit information from the main credit bureaus because credit card companies and other lenders typically look at your credit reports from one or more of the main credit bureaus to make lending decisions. Thus, you’ll be seeing the same information that lenders would see, allowing you to build your credit accordingly.
The Bad
- Not a Credit Repair Platform
- Undisclosed Pricing
- No Score Depot Mobile App
Not a Credit Repair Platform
Score Depot is strictly a credit monitoring platform. The company doesn’t provide credit repair services, such as assisting in removing errors or other items from your credit history. If you’re in need of credit repair services and/or are looking to work directly with a credit professional, the Score Depot platform will not be the right solution for you. The Score Depot platform only allows you to view your credit score and receive insights on how you might be able to improve it.
Undisclosed Pricing
It’s unclear if there is a cost associated with Score Depot membership.
No Score Depot Mobile App
While Score Depot is an online credit monitoring platform, it doesn’t currently have a mobile app. This may be a drawback for consumers who would prefer being able to receive updates and look at their credit information on-the-go. That being said, you may still be able to access your Score Depot account on your mobile device, but it may have to be done on a web browser.
The Bottom Line
Score Depot is an online credit monitoring platform that provides credit monitoring services, general financial services, and identity theft protection services. It’s important to note that Score Depot is not a credit repair company; thus, the company won’t actively assist in building your credit score or cleaning up your credit history. If you’re in need of credit repair assistance or would like to work directly with a credit professional, Score Depot isn’t the solution for you.
Score Depot provides real-time credit updates and insights, and you can set up a 120-day plan that will provide you with personalized insights into how you may be able to improve your credit over time. In addition to credit services, Score Depot can compile all your online financial accounts into one place, providing an easier and simpler way to manage your accounts; and the company provides identity theft protection services by providing you insights into websites that may have your information.
Overall, if you’re looking to improve your credit score over time and are interested in having more control over your finances, Score Depot could be a helpful platform for you. However, if your credit score is in active need of repair, due to debt or other circumstances, Score Depot may not be the most helpful resource for you, as it isn’t a credit repair service.
