Credit unions?
How will credit unions help me with my FICO score?
Public Comments
- The same way a bank would, except you get lower loan rates and higher savings rates from a credit union.
- Just having a checking or savings account at a credit union will not help you with your fico score unless you start bouncing checks and get reported to a collection agency in which case your credit will be in the toilet. If you get a loan through a credit union ( would have to be a member) then it would be reported to at least one credit bureau the same any other lending institution would report it. The main difference would be lower interest rates.
- Before you get a loan from a credit union, make sure they report it to the credit bureaus because some do not in order to keep the cost down.
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