New Digital Banking—Coming Soon! Digital Banking is currently unavailable while we finalize a new Digital Banking experience as part of our systems integration. We will email you after the new platform is live for you to explore the new features and functionality. In the meantime, visit our website to learn more about what to expect and how you can prepare for a smooth transition.
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Credit Report & Credit Score Basics
Credit Report Basics
Having your credit report pulled can be stressful and confusing. At NEFCU, your Loan Officer will review and explain your credit report to you.
Included in a Credit Report
- Personal information (Name, Address, SS#, DOB)
- Payment history on loans and credit cards
- Any accounts turned over to collection agencies
- Public Record such as bankruptcy
- Recent inquiries by any lender
Not Included
- Income
- Payment history on utilities, cell phone or rent
- Assets
- Marital status
About Credit Scores
Perfect Credit Mortgage Myth
Spoiler: You can be approved for a mortgage loan without having perfect credit! But still watch Pat’s video for some great tips.
Credit Score Tips
Credit scores in the United States can range from 300–850. If your credit isn't strong, we offer help to improve your score and credit profile.
What Can Hurt My Score?
- Making 30, 60 or 90 day late payments on any account
- Having credit card balances maxed out
- Having limited or no active credit accounts open
- Applying for too much credit in a short period of time
What Can Help My Score?
- Make all current loan payments on time
- Keeping credit card balances 50% or less of limit
- Keeping 3 traditional accounts open and active
- Keep older credit card accounts open, do not close