Improve Your Credit Score

What It Means to You


High credit score =
Lower interest rate
Higher chances of qualifying for a loan

Low credit score =
Higher interest rate
Lower chances of qualifying for a loan

FICO scores range from 300 to 850.

In general, people with high FICO scores consistently:
  • Pay their bills on time
  • Keep balances low on credit cards
  • Apply for and open new credit accounts only as needed


    • If you think you might have a low credit score, please contact us to help guide you through the necessary steps to improve your credit score.

    Click here for a complete guide to understanding your FICO score.

    What Makes up a Credit Score

    Payment History – 35%
    • Bills paid as agreed on time
    • Most weight placed on largest monthly payments
    Balances Carried – 30%
    • Keep total outstanding balance below 30% of your total available credit limit
    • Example: Total outstanding balance $3,000 / Total credit limit $10,000 = 30%
    Credit History – 15%
    • Longer credit history = higher credit score
    • Never close credit accounts as it shortens credit history
    Mix of Accounts – 10%

    • Ideal to have installment and revolving accounts
    • Example: mortgage, home equity, auto, personal loans and credit cards
    Inquiries – 10%
    • Each inquiry averages 5 point deduction
    • Multiple inquiries when shopping around for mortgage and auto loan rates count as only 1 inquiry if within 45 days