Why is a credit score important?

Your credit score is more than just a number – it’s a way for lenders to determine whether you are eligible for a loan, the amount of the loan, interest rate, and your payment – important stuff when you are planning for your future.

Your credit score can affect things like:

  • Loan Approvals
    A high credit score increases the likelihood of being approved for loans, whether it's for a home, car, or personal expenses.

  • Interest Rates
    Your credit score influences the interest rates you receive on loans and credit cards. A better score may mean lower rates, saving you money in the long run.

  • Credit Card Options
    A good credit score opens the door to a variety of credit card options with higher limits and better rewards.

  • Insurance Premiums
    Insurers may use your credit score to determine premiums for auto and homeowners insurance. A higher score can lead to lower insurance costs.

  • Employment Opportunities
    Some employers consider credit history when making hiring decisions, especially for positions involving financial responsibilities.

  • Renting a Home

  • Landlords often check credit scores to assess financial reliability when renting out properties. A positive score can make the rental process smoother.

  • Utility Deposits
    Setting up utilities may require a deposit, but a good credit score can sometimes eliminate or reduce this requirement.

  • Cell Phone Plans
    Credit scores can even impact the approval and terms of cell phone plans, potentially offering better options for those with higher scores.

What is Credit Sense?

Credit Sense is a comprehensive program designed to help you stay on top of your credit…for FREE!

With Credit Sense, you’ll get your credit score, an understanding of the key factors that impact it, and access to special loan and credit card offers that can help you reduce interest costs. With this program, you’ll always know where you stand with your credit score and where you can potentially save money.

This program will also monitor your credit report on a daily basis to help you keep an eye out for identity theft. You’ll be informed by email if any big changes are detected – a new account has been opened, a change in address or employment occurs, a delinquency has been reported, or an inquiry has been made.

How do I enroll in Credit Sense?

It’s simple! Just log in to your online banking and click on the credit score dial on the right-hand side of your screen. You’ll verify your Social Security number, answer a few quick enrollment questions, and then you’re all set with Credit Sense!

Once you have enrolled, you will also be able to access Credit Sense through our mobile app so you can check your score on the go!

Not a member of Louviers FCU?

Joining is easy!

All you need to do is maintain a $5.00 balance in a Share Savings Account. Then you’re eligible to enroll in Credit Sense!

Apply for membership online or visit any of our locations today.