Square One – Credit Management


square one credit management- cash is king credit is queen

Hello Central Jersey Federal Credit Union Members,

Our statistics show that by improving our clients credit scores by an average of 60-80 points per bureau, we are saving our clients money every month on all things financed.

The reality is, your credit scores are a determinant of risk for more than you think.  Not only can you reduce your interest rates on your credit cards, your mortgage, your car or personal loans as a result of a higher credit score, but you can save money on your car insurance premiums too!

Square One would love to set up a time to walk you through a personalized FREE credit consultation for us to calculate for you what we can save you per month.

Talk to you soon,

The Square One Family

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(1)    Pay off Your Debt to Improve Your Score 

Depends on what you’re paying off and how much debt you had to begin with. Credit utilization rate is based on how much revolving credit you have available, and how much you have used. Getting that rate to 30% or less will help your credit.

(2)    Paying off Debt Removes it from my Report

A misused account (one where you were regularly late and behind on payments) will remain on your report for up to 10 years.

(3)    My Spouse has Good Credit

I Have Good Credit – For joint loans, if the scores are significantly different, the lower score brings down the average and hurts your borrowing abilities.

(4)    Every Credit Pull Hurts my Score

There are two types of pulls Soft pull makes sure that you are who you say you are Hard pull digs a bit deeper. Too many hard pulls in a short period of time can end up hurting your score. Inquiries account for LESS THAN 5% of your score.