ABC Sample Credit Union

Managing your credit is an important part of maintaining your overall financial health. Being sure to evaluate if and when you need to borrow and how much are important first steps followed by assessing what types of monthly payments you can afford to make. Paying your credit cards and loan payments on time helps to maintain a strong credit score.

What is a credit score? Your credit score is a computer generated summary calculated and reported a consumer credit bureau agency. The scores are based on data about your credit history and payment patterns. Credit scores are important because they are used to assist the lender in determining whether you will obtain a loan. They may also be used to determine what interest rate you may be offered on a mortgage. Credit scores can change over time, depending on your conduct, how your credit history and payment patterns change, and how credit scoring technologies change. Because the score is based on information in your credit history, it is very important that you review the credit-related information that is being furnished to make sure it is accurate. Credit reports may vary from one company to another.

You are entitled to a FREE annual copy of your credit report. It’s a good idea to review your credit report for accuracy. If you have questions concerning your credit score or to order a free report, contact one of the consumer credit bureau agencies listed below: