Credit Score Basics:

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How to Establish & Maintain Good Credit

Most of us probably rank ‘check my credit score’ somewhere after ‘reorganize the garage’ on our to-do list. The reality is…we forget how important it is to have a good credit standing—until it’s too late. Credit may not only affect how much interest you pay on your loans, but also impacts your auto insurance rates, apartment rental and employment opportunities.

Your credit score is based on a number of factors, such as: do you pay on time, how long have you been borrowing, is your credit still expanding and is your credit diverse. Although you can’t improve your credit score overnight, it’s important to consider what activities have an impact. This list provides some positive steps you can take to improve your score:

  • Always pay credit card bills and other consumer debt on time
  • Avoid being too close to your credit line limit
  • Don’t apply for a bunch of credit lines during a short period of time
  • Maintain a variety of installment loans (debt with fixed payments, like a car payment) and revolving loans (a credit card)
  • Avoid bankruptcy.

The following products and resources can help improve your financial well-being:


  • Open and use Checking and Savings accounts. With more assets, you are deemed more financially stable.
  • Get a low-rate Line of Credit or Visa Platinum Credit Card or Secure Loans of various types such as revolving accounts (lines of credit, credit cards) to help establish a good payment track record.
  • Having an excellent credit history is well worth the extra effort and allows you to enjoy lower interest rates and larger loans. Check your credit history today with a FREE credit report from

How a Poor Credit Rating Can Hurt You:

Loan Denial or Higher Interest Rates

High Insurance Rates

Loss of Employment Opportunities

Renting an Apartment



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