What you don’t know can hurt you.

AnnualCreditReport.comFor sure you’ve noticed that loan rates are often listed with “as low as” in front of the actual rate shown. Your ability to apply for and receive this “as low as” rate is dependent on your credit score, which is determined by information that is on your credit report. Your credit report lists your borrowing and credit payment history, as reported by creditors to the three major reporting agencies: Equifax, Experian and TransUnion.

  • There are a number of factors that go into your credit score, including:
    • Your ability to pay on time
    • How close you are to maxing out all of your available credit lines
    • How long you’ve had a credit history
    • Your overall amount of outstanding debt
    • Having a good mix of different types of credit (such as “closed-end” loans like a mortgage or car loan in addition to “open-end” loans, like credit cards)

Unfortunately, sometimes information that is not accurate can find its way to your credit report. Clerical errors, inaccurate reporting and identity theft are just a few ways that this can happen. So it pays to check your credit reports regularly to make sure that all information is completely correct.

Of course, we always want you to enjoy the benefits of having a great credit score, and we’re happy to work with you to find ways to improve your credit score over time. But we also recommend checking your credit report regularly. One way to do that is by visiting It’s a free way to order all three credit bureau reports each year so you can make sure what is being recorded is 100% accurate.

Your credit score is absolutely critical to so many aspects of your life. If you have any questions about your credit report or your credit score, give us a call or stop by and see us.



Not a member yet? We’ll take care of that for you as you’re opening your account or taking out a loan. If you want to get a jump-start, enroll online or just give us a call at 978.328.5100. We’ll be happy to help you build from here.