Are you about to graduate? If so, then making the transition to living on your own and being financially responsible requires long-term, smart choices. Building your credit is the first step to securing a healthy financial standing where applying for loans or credit cards in the future will come into play. Learn more about how to do this below.
How Does a Credit Score Work?
If you aren’t aware of how credit scores work, then don’t worry. It can be a bit of a tough subject to learn. Credit scores range between 300 and 850 points and are tracked by Equifax, Experian, and TransUnion. According to Equifax, a good credit score is 670 and above. Credit is determined by how much debt you owe, your repayment history, and the number of financial accounts you have.
Your score is checked by:
- Banks and credit unions
- Insurance companies
- Car dealerships
- And more
You can review your credit score when you sign up as a member of VFCU through our Mobile Money App and complete your credit profile.
Apply for a Credit Card with Us!
You can build your credit by paying off debts, such as a credit card balance. If you don’t have a credit card, our Harlingen credit union currently offers:
- The Platinum Card starting at 9.95% APR interest
- The Gold Card starting at 12.95% APR interest
- The Classic Card starting at 17.95% APR interest
Make Smart Purchases
Compared to Harlingen banks, at our credit union, you can enjoy fixed rates and no annual fees with our credit cards. As a member, you also get access to many money-saving services like Money Concepts Financial Planning and a STAR Checking Account!
Become a Member Today!
For any questions about our services or to learn more about becoming a member of our local federal credit union in Harlingen, call (956) 546-3108.