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Don’t believe these two myths when you’re trying to raise your credit score

Posted by Community Choice Credit Union on Dec 19, 2016 2:56:31 PM

Last week, we revealed the top two myths that are associated with building your credit and improving your score. Now, we’ve debunked two additional myths, as they can do more harm than good when trying to rebuild and maintain good credit. 

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Topics: Credit Score, Credit Report, credit, credit mix

Boosting your credit score: Top two myths debunked

Posted by Community Choice Credit Union on Dec 9, 2016 9:19:50 AM

Credit scores are an area of personal finance that seem a lot more mysterious than they actually are. Many people believe that improving their score 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. There are four common credit score myths and we’ve debunked two of them for you. 

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Topics: Credit Score, credit

Credit Scores 101: What's a good credit score and how to manage your score

Posted by Community Choice Credit Union on Sep 20, 2016 5:11:28 PM

A credit score of 720 or more is considered prime—this means you’re in good shape. Scores under 550 mean you could be turned down for a loan. Scores in the good-not-great range (550 to 720) might get you loan approval, but your interest rates will be higher than if you had a prime credit score. Nobody likes the idea of paying more money for no reason, so it makes sense to adopt credit habits that will boost your overall score.

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Topics: Credit Score, Personal Finance, credit, credit mix

The breakdown of a credit score [infographic]

Posted by Community Choice Credit Union on Sep 12, 2016 12:02:45 PM

Have you ever wondered: why is my credit score so important? Then you’re in luck, because we have the answer, or in this case, answers, to your question. Your credit score is a three-digit number than can affect everything from your ability to get a loan to your career growth. Here’s what you need to know about your credit score.

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Topics: Credit Score, Personal Finance, credit

Everything you need to know about your credit score

Posted by Community Choice Credit Union on Sep 9, 2016 2:13:37 PM

You’ve likely heard about credit scores before (thanks to all those commercials with terrible jingles), but what do you actually know about them? How long have they been around? And what’s the deal with checking them?

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Topics: Credit Score, Credit Report

Personal loan vs. credit card. Which one should you use and for what purpose?

Posted by Community Choice Credit Union on Jul 11, 2016 9:52:04 AM

Before you use your credit card for that big purchase, you might want to consider using a personal loan instead. While your credit card may offer a lower interest rate than a personal loan, making an expensive purchase and carrying a high revolving balance can negatively impact your credit score. This will also cost you more money in interest payments, over time. Here are some helpful tips to help you choose between using a credit card or a personal loan.

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Topics: Credit Score, Finances, personal loan, credit card

Links to third party sites are not owned or operated by Community Choice Credit Union. We are offering the link for your convenience and have no responsibility for the availability, accuracy, or content of this website, its products or services. We encourage you to review their privacy and security policies which may differ from Community Choice Credit Union.

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