These three little numbers can mean getting the best interest rates on loans, credit cards, insurance, buying a car or house, or even landing a job. The higher your score, the lower rates you’ll enjoy, and vice versa. But if you have questions about how your credit score is determined, or why you have more than one, you’re not alone. Here are answers to some common questions.
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A Member’s Financial Journey – Sheela H. (Videos)
Although Sheela’s credit score was at an all-time low due to circumstances beyond her control, the Credit Union looked beyond that drop in her score and saw a Member worth taking a chance on. See her remarkable journey from financial crisis to financial freedom.
Tips to Keep Debt in Check
Do you know the warning signs for carrying too much debt? If you’ve gotten off track with your credit card usage, or want to ensure your borrowing habits stay in good shape, here are some tips to help you manage your money wisely.
How to Make a Secured Card Work for You
If you crave the convenience of credit cards but worry about getting in over your head, a secured credit card may provide an unexpected solution. While they’ve developed a reputation as an option only for those who need to build or repair credit, secured credit cards offer some unique wider benefits worthy of a second look.
SavvyMoney Minute: How Using Credit Affects Your Credit Score
You want to raise your credit score so you can get lower credit card interest rates, easier credit, even better job prospects? You need to understand “credit utilization.” It’s a simple ratio of how much credit you have versus how much you use, and it can make up to 20-30% of your credit score.
It’s a Money Thing: Boost Your Credit Score
Credit scores are an area of personal finance that seem a lot more mysterious than they actually are. Many people believe that improving them is a matter of trial and error and, as a result, there’s a lot of “credit score advice” floating around that can end up doing more harm than good. We’ve rounded up and bunked four common credit score myths.
SavvyMoney Minute: Good vs. Bad Debt
Recent statistics show that average credit card debt per indebted household is just over $16,000. But it turns out some debt is good. It’s important you know the difference; for example, debt for a want, not a need, is bad debt.
Using Credit Wisely
Your credit union offers many attractive and affordable financing options for Members, but to ensure that you always have access to the credit you need, you must use your credit wisely.