Credit and Loans, Debt Management

Starting from zero: how to repair credit

Most people know they need a good credit score and would like to improve theirs. But for some, it’s a more dire situation. Whether it’s due to poor money management or you’re just going through a rough patch, sometimes it’s helpful to get advice on how to repair credit and “start from zero.” That’s why we’ve created this step-by-step plan for improving a very low credit score.

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Author SAC FCU Managing Editor

Credit and Loans

The payday loan alternative: Taking out a personal loan

Unexpected expenses may leave some folks scrambling to get their hands on fast cash, but before you sign up for a payday loan, it’s important to first consider a much better option: a personal loan. Taking out a personal loan from a credit union will leave you with more money in your wallet and far fewer fees to pay.

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Author SAC FCU Managing Editor

Credit and Loans

Before you apply for a loan, get loan-savvy with our resource roundup!

Many loans ­are not short-term agreements. Your mortgage, for example, will likely be with you for a good portion of your adulthood, and it’s hard to imagine that anyone would go through life without another smaller loan of some kind. They have a big impact on your financial well-being, so it pays to do your research before you apply for a loan. That’s why we’ve rounded up these mortgage- and loan-related resources. Take advantage of the info below and you’ll be set to make savvy financial decisions.

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Author SAC FCU Managing Editor

Credit and Loans

Factors that affect interest rates on personal loans

Looking to consolidate debt? Take a vacation? Make a big purchase? A personal loan might be the answer. A personal loan is an unsecured loan that can be used for anything you need that requires a little extra cash. Unsecured means there’s no collateral (like with an auto or home loan). This represents a higher risk to the lender, but that doesn’t mean rates will be sky-high, and interest rates on personal loans aren’t one-size-fits-all.

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Author SAC FCU Managing Editor