Achieve Better Financial Stability with a Healthy Credit Score

Your credit score may seem like just a three-digit number, but it holds significant power regarding your financial well-being. The following will help you explore the importance of a good credit score and how it can lead to substantial savings and financial stability.

Access to Lower Interest Rates: One of the most significant advantages of a good credit score is the ability to access loans and credit cards with lower interest rates. With lower interest rates, you’ll pay less over the life of the loan, which can save thousands of dollars.

Easier Approval for Rental Properties: Landlords often complete credit checks on potential tenants to assess their reliability in paying rent on time. With a good credit score, you will be more likely to get approved for a rental property and may avoid paying a higher security deposit or other financial expenses.

Lower Insurance premiums: Many insurance companies use credit-based insurance scores to determine the pricing of their premiums for customers. Those with good credit tend to receive a lower insurance premium, saving them money on auto, home, and even life insurance.

A good credit score gives you access to numerous financial benefits in various areas of your financial life. At New Dimensions FCU, our staff is well-equipped to help you on this journey. Contact us at 207-872-2771 or to speak with one of our loan officers or a financial coach today!