Your credit score is an important reflection of your financial health.
Long a staple in establishing credit and insurance rates, credit scores are increasingly being used by everyone from potential employers to landlords to evaluate stability and financial health.
Credit scoring is a system of statistically analyzing credit reports. It provides a simple, three-digit score comparing an individual's past and current credit performance to that of similar consumers. Your credit score provides lenders and other potential creditors a quick and fairly objective way to assess your creditworthiness—or, put another way, the likelihood that you will pay them back.
A favorable credit report generally leads to a higher credit score, which opens doors to more borrowing options including lower interest rates.
Borrowing money often involves a major purchase, like a home or car. Most of us shop around for the home or car, but not everyone does the same when it comes to a loan.
Once you've got your credit ducks in a row, probably the very best thing you can do is obtain financing before you start shopping for that new car or home.
House or car shopping is much more fun than crunching loan numbers, but shopping for a loan could save you thousands of dollars as well as untold time, effort and stress.
Understanding Your Credit Report
How to Establish Credit
What is My Credit Score?
What is a Credit Report?
Tips for Improving Your Credit Score
Why Pay Off Your Credit Cards Each Month?
How to Dispute Credit Report Errors
SECU is not responsible for the content or availability of linked sites. Please be advised that SECU does not represent either the third party or you, the member, if you enter into a transaction. Further, the privacy and security policies of the linked sites may differ from those practiced by SECU. Please consult the privacy disclosures on this site for further information. Complaints or concerns about this site should be directed to email@example.com.