A How-to-Guide on Your First Credit Card
Posted On: March 5, 2025 by CSE Federal Credit Union in: Debit & Credit Cards, Education
A How-to-Guide on Your First Credit Card
Getting your first credit card is an exciting step toward financial independence, but it’s also a huge responsibility. At CSE, we want to set you up for success with these essential tips:
The Do’s
DO: Pay on Time, Every Time
Your payment history is the single greatest factor that makes up your credit score. Even one missed payment can hit you where it hurts. Consider setting up an automatic...
How-to-Guide on How a Credit Card Works
Posted On: February 5, 2025 by CSE Federal Credit Union in: Credit Cards, Education
How-to-Guide on How a Credit Card Works
1. What Is a Credit Card?
A credit card is a plastic (or digital) card that lets you borrow money to make purchases. When you use a credit card, you're using the credit union’s money, not your own. The credit union has allowed you up to a certain dollar amount (or credit limit, see below) to borrow. This is different from a debit card, which takes money directly from your checking account.
2. How...
Credit Report = Adult Report Card. Will You Make the Grade?
Posted On: August 14, 2023 by CSE Federal Credit Union in: Credit Cards, CSE, Education, General
Credit Report = Adult Report Card. Will You Make the Grade?
When you take a test in school, the result of a good or bad grade can affect your overall grade for the course; it plays a part in whether you pass or fail. When talking about your credit report, imagine it as your adult report card. How you repay loans and credit cards affects your overall score, which can lead to good things for you or a world of financial challenges, depending on your overall credit...
The Importance of Monitoring Your Credit Report
Posted On: June 14, 2023 by CSE Federal Credit Union in: CSE, Education, General
The Importance of Monitoring Your Credit Report
Your credit report is a crucial aspect of your financial health. It is a detailed summary of your credit history, including your credit accounts, payment history, credit inquiries, and public records. Monitoring your credit report is essential because it can affect your ability to obtain credit, rent an apartment, and even get a job. Here are some reasons why monitoring your credit report is important:
Want the...
Starting Your Credit Journey & Establishing Credit
Posted On: March 22, 2023 by CSE Federal Credit Union in: Credit Cards, Education, General, Lending
Starting Your Credit Journey & Establishing Credit
Have you ever wondered how long it may take to build or improve your credit score? Here are a few tips from our experts, whether you’re just starting out or want to improve a low credit score.
Jump over to our CSE Couch chat with our Assistant Manager of the Lending Contact Center to discover more about establishing your credit. Or, continue reading...
To start, let’s...
‘Recipe’ For Good Credit
Posted On: July 6, 2022 by CSE Federal Credit Union in: Budgeting, Education
‘Recipe’ For Good Credit
Oftentimes, when people see or hear ‘credit’ or ‘credit score’ they think of credit as a complicated and complex subject. In ways it is, but we’re here to help break down credit into a simple recipe to make it easier for you to build and maintain a good credit score!
Though there are many parts to a credit score, the key ingredients are: Payment History: Pay your...
MORTGAGES - THREE KEY ELEMENTS: CREDIT, DOWN PAYMENT, & INCOME
Posted On: February 21, 2022 by CSE Federal Credit Union in: Education, General, Mortgages
If you’re new to the mortgage loan process, or if it’s been a while, you may be experiencing a variety of emotions if you’re thinking about getting a new home. Before getting too far into the process, one of the first steps in buying a home is going through the mortgage pre-approval process. Learning about the most important factors and knowing what you need so you can speed up the approval process can make a big difference in how ‘easy’ it is for...
Why does credit score matter?
Posted On: July 14, 2021 by CSE Federal Credit Union in: Budgeting, Credit Cards, CSE, Education, General, Lending
Credit score isn’t one of those topics you bring up during dinner, but maybe it should be. Many people don’t realize how important credit actually is and the impact your credit score makes in the grand scheme of your finances. Think of your credit score like a report card, your financial report card - one that will follow you through your entire life. You are the one in control of your credit, so make sure you are doing the best things possible to improve your score...
