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Know Your Credit Score


Get your VantageScore for free

VantageScore makes it easy to understand your credit standing while also utilizing advanced monitoring techniques that may enhance your credit eligibility. VantageScore helps you take control of your finances, understand your credit potential, and meet your financial goals.  

Access your VantageScore for free through Better Online Banking or Mobile Banking. 

Frequently Asked Questions

Understanding credit and using it advantageously can be complicated. Here are some answers to frequently asked questions about credit and VantageScore. 

It is a credit score developed by the three major credit bureaus Experian, TransUnion, and Equifax. It predicts how likely you are to pay back a credit obligation as agreed. Credit scores matter when you seek a loan, as it will affect variables such as your interest rate and loan terms, helping lenders quickly, consistently, and objectively evaluate potential borrowers credit risk. 

Nearly all U.S. lenders, including UFirst Credit Union, use credit scores, as the industry standard for determining credit worthiness. Reviewing your score can help you learn how lenders view your credit risk and allow you to better understand your financial health. 

Your credit score is influenced by the following factors: 

Available Credit – 2% 

What is the amount of money you have left to use?  This is your credit limit minus your balance. Reducing your credit usage can improve your credit. 

Balance – 6% 

How much debt do you have?  This is based on the balance you carry on your accounts as a whole. 

New Credit – 11% 

How many accounts have you recently opened?  This is the frequency of credit inquiries and new account openings. When you open several accounts in a short period, this generally translates to greater risk. 

Credit Utilization – 20% 

What percentage of your credit limit is in use?  It is recommended that you use no more than 30% of your available credit  

Age and Mix of Credit – 20% 

How long have your accounts been open?  An extensive credit history will typically increase your score.  

What type of credit accounts do you have?  This relates to your mix of retail accounts, credit cards, finance accounts, mortgages, and installment loans. It is not necessary to have one of each. 

Payment History – 41% 

Have you paid past credit accounts on time?  Pay your bills on time. Paying bills 30 days late or more will have a negative impact on your credit score.

A credit score of 697 is considered a “prime” score. However, what is considered a “good” score may differ from lender and institution.

UFirst strives to help you develop and maintain your financial well-being, which is why we offer access to your credit score. When you are aware of your credit score, you can actively achieve your personal goals. Understanding where you fall on the credit score range will help you plan in terms of your creditworthiness. 

No.UFirst offers yourVantageScore as a free benefit, it will not impact your credit.

Your VantageScore alone will not determine whether you get credit or not. Lenders will also consider your employment history, credit history, and amount of debt you can likely handle based on your current income. 

  • You are a new account holder 
  • Your credit history is too new
  • You are not the primary account holder 

To Maintain a Healthy Score, Keep the Following in Mind 

  • Start as soon as possible — developing your credit history and financial health takes time. 
  • If you have a moderate number of open accounts, you will be perceived as lower risk. 
  • Pay your bills on time — this is attractive to lenders. 
  • Delinquent payments and collections can have a significant impact on your scores, even if only late by a few days. 
  • When your credit issues occurred, matters. Older problems weigh less heavily than newer credit issues. 
  • Try to pay down your debt instead of moving it from one account to another. 
  • People who do not have any credit cards are actually viewed as riskier than those who have credit accounts and manage them responsibly. 
  • If you are in need of financial assistance, partnering with UFirst Credit Union will not harm your credit. 

You can check your credit once a year for free. Learn more here 

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