The United States Senate Federal Credit Union C.A.R.E.S. about your financial well-being.
In addition to being eligible for BALANCE, a financial education and counseling service dedicated to helping you achieve your goals, we offer a new credit awareness resource. Please refer back to USSFCU C.A.R.E.S. frequently for articles and instructions on issues affecting your credit rating, improving your credit score and what it all means to your financial fitness!
Diminished Reward of Charging Everything
Charging everything can offer tremendous rewards, but it can damage your credit scores...overspend and it may cost you money in fees and interest.
Building Great Credit
Your credit history can make or break you when trying to convince lenders you're a good risk. Here are some simple ways to build the best record you can -- before you need it.
What Bad Credit Really Cost You
It's not just a number. Failing to take steps to improve your credit score could cost you hundreds or thousands of extra dollars on a home loan, a car payment or a credit card or insurance bill.
The Expansion Score
An estimated 50 million American adults have no real credit history. Pretty hard to believe, huh? So says Fair Isaac, the company that developed the classic FICO score used by most lenders, and they've launched a new scoring system that may soon allow lenders to make loans to more recent immigrants, young people and others who currently have a tough time getting credit. But with this development, called the FICO Expansion score, also comes new ways for people to mess up their financial lives.
Potential Hits to Your Credit and What You Can do About it
Cards that don't report credit limits are just one of the hidden threats to your credit score. Here are some of the potential hits you might be taking, and how you can fight back.
