Improve Your Credit Score
 What is a Credit Score?
What is my Credit Score?
How can I improve my Credit Score? Confused about all the talk on credit scores? This topic has become a common financial concern. As part of our continuous effort to educate our members, we would like to offer an opportunity to discuss what a credit score is and how it affects you individually. The credit score that appears on your credit report not only determines your rate and term at the credit union, it could also influence other areas of your life, such as: applying for a job, renting an apartment, and purchasing auto insurance. Our Lending Specialists are happy to review a copy of your credit report, and will explain, analyze, and suggest ways of increasing your score. Did you know……… That the credit score number ranges from 250 to 900* (the higher the better) And………. Your credit score is derived from five basic items: 35% Reported Payment History
30% Capacity (Revolving Balances vs. Limits)
15% Length (Oldest reported credit account)
10% Accumulation of Debt in the Last 12-18 Months
10% Mix of Reported Credit (Installment Debt vs. Revolving) · Based on Fair Isaac Score Model Used by Experian
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