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...
‘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...
Top 5 Financial Resolutions for the New Year
Posted On: December 27, 2021 by CSE Federal Credit Union in: Budgeting, CSE, Education, General
Over the course of the past year or two, you may have not been able to truly give your finances the attention they needed. We hunkered down and focused on our physical health, our work, or maybe the lack thereof which may have caused other stressors.
Your financial health can be linked with physical health and when you focus on your finances, you’d be surprised how other things seem to start looking up too. If your finances aren’t in the best spot, your physical...
How a Credit Card Works
Posted On: August 18, 2021 by CSE Federal Credit Union in: Credit Cards, Debit & Credit Cards, Education, General
Credit cards are often used for a number of reasons, from the convenience of not carrying around cash, earning rewards with every transaction, or simply so you can make many or large purchases without worrying about it coming out of your account right away.
Although a credit card may be used similarly to a debit card, it works very different.
How credit cards work:
When you get a credit card it is set with a credit limit, or the amount...
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...
Building & Repairing Credit Score
Posted On: May 19, 2021 by CSE Federal Credit Union in: Budgeting, CSE, CSE News, Education, General, Lending
A credit score is a number that is used by financial institutions and/or credit card companies to determine the level of risk for a person when issuing a loan or credit card. A person’s credit score may influence the limit of credit available to them, as well as the term, length, and interest rate of a loan.
One of the first items that you (or a potential creditor) will see when looking at a credit report is your credit score: a number between 350 to 850. Generally,...
