Does joining a credit union help your credit score?

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asked Dec 1, 2022 in Credit by Pinkpanther (1,600 points)
recategorized Dec 1, 2022 by Pinkpanther
Does joining a credit union help your credit score?

2 Answers

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answered Dec 6, 2022 by Shawn (99,510 points)
Joining a credit union can and does help boost your credit score and build credit as long as you follow the right steps.

If you joint a credit union and have bad credit then you can get get a secured credit card to boost and improve your credit score as well.

Also because credit unions are not for profit the credit unions can offer it's members of the credit union numerous benefits which can indirectly or directly build and improve a persons credit score.

To boost your credit score and to get your credit score above 800 be sure to pay off credit card balances in full and on time, pay other bills on time, keep credit card balances low, avoid taking out too many credit cards and loans, keep the credit utilization rates low and pay down debt.

It will take a few years to raise your credit score to above 800 if it's lower than that but you may be able to raise your credit score of above 800 within 6 months to a year if your credit score is at least 800 already.

A 900 credit score is possible as credit scores range from 300 to 900.

The 900 credit score is the highest credit score you can get.

A credit score of 800 to 850 is considered excellent and can easily get you approved for most credit cards and loans.

A 651 credit score is a good credit score although not great.

A 700 credit score is a really good credit score while a credit score of 800 is an excellent credit score.

With a 651 credit score you can get approved for some loans and credit cards but having a 700 or above credit score is better.

CreditKarma is accurate on credit scores.

CreditKarma pulls your credit scores from the same places that other credit score checking websites do and while your credit score may vary slightly from different credit score websites they should not vary much if at all.

CreditKarma has been very accurate when I've checked my credit score with them.

A good TransUnion score is a score of between 721 to 780.

An excellent TransUnion score is 800.

A good FICO score is in the range of 670 to 739.

A very good FICO score is between 740 to 799 and a FICO score of 800 and up are excellent FICO scores.

Credit scores of 670 to 739 are good credit scores and credit scores of 800 or above are excellent credit scores.

A good credit score is between 670 to 739 although 600 can also be considered a pretty good credit score.

A credit score of between 670 to 739 is considered to be a good credit score.

Below 680 is considered an average credit score and 300 or less is considered a bad credit score.

Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.

The Visa debit card does not build credit.

Although the Visa Debit card is a good way to use money from your bank account and spend it with a debit card.

The extra debit card does build your credit as you use it.

There's no credit check to get the Extra Debit card and as you use the Extra Debit Card it helps to build your credit so that you can get approved for loans, auto loans, credit cards etc.

Extra is the first debit card that builds credit and earns rewards points just like a credit card.

The Extra card is best if you want to try to rehabilitate your credit score without worrying about adding on to your debt or getting a credit check during the sign up process.

This type of credit card works similarly to a debit card in that you only have access to the money you put into it.

You can also use a secured credit card to help you build credit.

With a secured credit card you put up a deposit for the credit card balance and then the deposit becomes your credit limit.

You then use the secured credit card like a normal credit card and then pay the bills and as you pay back the credit card your credit gets built up.

A great credit score is 800 and up while a good credit score is around 670 to 739.

The higher your credit score the easier it will be to get loans, credit cards, better insurance rates etc.

Although credit score ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.
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answered Dec 26, 2022 by Garettt (4,500 points)

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