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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

Contact a Mortage Loan Officer

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