Credit Tips

Having a strong credit score can increase your chances of getting approved and getting the best rate possible. What can you do to improve your credit score? Here is some helpful information about your credit score and how to improve it.

Know Your Score

One Source FCU is here to help you achieve your financial dreams. A great credit score will increase your chances of getting your loan approved and pay less interest. This is how your credit score is calculated:

  1. 35% Payment History - The record of your on-time and late payments.
  2. 30% Credit Utilization - Your credit limit minus the amount you owe.
  3. 15% Credit History Length - How long you have been using credit.
  4. 10% Credit Mix - Mortgage, auto, credit cards and other loan types play a part in your score.
  5. 10% New Credit - The number of recently opened credit accounts and recent hard inquiries.


Free Annual Credit Report

The only source for your free credit reports and authorized by Federal Law.

Video: Free Credit Reports vs. "Free" Credit Scores

How is My Credit Score determined

FICO® Scores are calculated from several different pieces of credit data in your credit report. This data is grouped into five categories.

Credit Repair

You can improve your credit report legitimately, but it takes time, a conscious effort, and sticking to a personal debt repayment plan.