Building a Strong Credit History: Eastex Credit Union’s Proactive Approach

Britney Balderas | Posted on June 10, 2024 |

Are you struggling to improve your credit score? Don’t have any credit established? Eastex is here to help you improve your credit and show you are reliable and responsible. Even starting small can make an impact and help build your credit history. Here are some of the ways you can improve your credit score.

The Importance of Strong Credit

Having a great credit score is important! You could be offered better loan terms, lower rates, and credit limit increases with a good credit history. For example, if you want an apartment, the landlord is more likely to rent to you if you have a strong credit history.

Paying On Time

Do you already have loan payments? Making sure your payment is on time is one of the most crucial factors in raising your credit score. 35% of your credit score comes from how you pay your bills, including bills not paid on time. Your payment history shows how often you make payments, if they are on time, and if you pay them in full. It’s important to keep track of upcoming payments to anticipate what bill is due and how much it will cost. If you have trouble remembering, set up reminders and/or automatic bill pay within Eastex’s digital banking app.

Using Credit Cards

Credit cards play a huge role in your credit history. You won’t have a credit history if you don’t have a credit card. Keeping your line of credit open can also improve your credit history. 15% of your credit score comes from the length of time you have had credit. Don’t close old cards, if you keep using them, it can contribute to proof of a long and responsible credit history. Another key factor is how often you use your credit card. Your utilization should never exceed 30% of your available credit. It’s good to stick to this percentage to build up good credit. At Eastex CU, we offer a Visa credit card that can help build your credit.

Why Choose Our Credit Card?

At Eastex Credit Union, we’re dedicated to helping our members achieve their financial goals. With our Visa credit card, we offer low interest rates and no annual fees. Plus, you get an interest-free grace period when you open your Eastex Visa credit card. When you use our credit card, you can earn points on every purchase. Check out more of our Visa credit card benefits here.

Check your Credit Score with CreditSense℠ at Eastex CU

We offer Eastex CU members access to their credit score with CreditSense℠. Credit Sense is a free resource available through our Online Banking platform which allows members to check credit scores at any given time. If you’re looking to start building credit, need help on ways to repair your credit, or have more questions regarding your overall credit, stop by an Eastex CU branch or give us a call to discuss your individual questions and needs. Our experts can help guide you on best practices and tips to achieve the best score possible.