Rachel Langlois, financial expert with Cyprus Credit Union, tells us how to put good credit to work.
- Get pre-qualified or use online calculators to estimate payments
2. Save & Pay
- Save for a Down Payment (most homes = 20%, first time homebuyer = 3.5%, car= at least 10%)
- Start "paying yourself" to test the hit the new payment will make to your budget
3. Protect Your Score
- Pay down debt
- Don't apply for new credit cards or loans
4. Know Before You Shop
- Get pre-approved
- Advisor consultations at Cyprus are free
5. Research Online
- Helps avoid emotional or impulse purchases
- Create a list of needs/wants
For more great ideas from Cyprus Credit Union, go here.