Review of CreditWhat is it and why is it important?In general terms, credit is defined as “an agreement in which money is borrowed with a commitment to pay it back later, usually with interest.” Having “good” or “bad” credit is a reflection of a person’s overall credit health. Credit health is impacted by various factors, including payment history, FICO® Score, debt size, income, types of credit, and length of credit history. Someone with good credit health will not only have an easier time obtaining loans, credit cards, and lines of credit, they’re also more likely to have lower interest rates which means more money saved. The first step to building strong credit and a high credit score is knowing what’s in your credit report. A “Review of Credit” will help you determine what financial behaviors you should be taking to rebuild, improve, or maintain your creditworthiness. Committed to the financial wellness of the community, Sunmark Credit Union offers members a free Review of Credit which should be done at least once a year. Understanding the different components of your credit report can feel overwhelming, but Sunmark’s knowledgeable staff members will explain each item and provide valuable information such as:
Knowing what your credit is comprised of can help prevent errors that may lead to a lower credit score (and higher rates on loans) and may even protect you against identity theft. Sunmark Credit Union’s representatives have the training and experience needed to help guide you with:
Start building a brighter financial future! Make an appointment for your FREE Review of Credit at Sunmark Credit Union:
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Routing #: 221379824
REMEMBER! NEVER give out your sensitive information (SSN, account/card numbers, online banking credentials, etc.) to someone claiming to be from Sunmark Credit Union. If anyone contacts you in ANY WAY (email, phone, text, etc.) stop all communication and call us at 866-SUNMARK to verify the legitimacy of the request.
