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Building and managing a strong credit rating is often one of the toughest financial challenges you’ll face. Affinity Credit Union will provide the insight you need to demystify managing your credit.
Why build good credit? It improves your image in the eyes of lenders for your ability to get credit (loans, apartment, insurance, credit cards, job) and your chances of getting lower interest rates on loans and other forms of credit.
Who needs to build good credit? High school grads, college students, young adults, recent immigrants, people who have a poor financial history, and women (particularly if all credit is in husband’s name).
Tips to build a strong credit score. Pay all bills on time, keep credit utilization ratio < 25% of available credit, don’t close all old accounts, don’t open a flurry of new accounts, don’t co-sign if other person has bad credit.
Where to begin when you don’t have a credit history? Start small. Put utilities and rent in your name; pay on time, apply for a small loan or line of credit at your credit union; charge and pay on time, apply for a department store or gas card; pay cards off monthly.
Click Here for the Top 12 Credit Myths
Debt In Focus
Debt in Focus is an anonymous, free debt management website that allows consumers to be smarter about managing their debt. The application is simple to use and avoids confusing financial jargon so you get information you understand and can put to use.
Getting starting is simple...just answer a few questions about your income and current debt and within a few minutes you will get a customized payment plan with graphs, budget basics, life stage tips, a personal action plan and more!
Get started now! Remember all of your information is completely anonymous. If you don't have time to finish or want to save your results you can come back at a later time by entering the provided revisit ID.
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