Credit Reports

Where to get a copy of your credit report

Under the FACT Act amendments to the Fair Credit Reporting Act you are entitled to one no-cost credit file disclosure (credit report) from each nationwide credit reporting agency every 12 months.

Note: The following link is provided as an informational service to our site visitors and information contained in this sites does not constitute approval by Day Air Credit Union. Day Air Credit Union is not responsible for any information/mis-information contained therein.

• www.annualcreditreport.com

Once you receive a copy of your credit report, you may need help with deciphering the details. If so, we'd be happy to help!

Understanding Your Credit Score

What is a credit score?

• A numerical representation of credit worthiness that helps predict the likelihood of default

What makes up your score?

• 35%...based on payment history
• 30%...capacity (the lower the credit card balances are in relation to the credit limit —the better the score will be)
• 15%...length of credit
• 10%...accumulation of debt in the last 12 to 18 months
• 10%...mix of credit

What actions will hurt your score?

• Missing payments
• Credit cards at capacity
• Closing credit cards (lowers capacity)
• Shopping for credit excessively
• Opening numerous credit accounts in a short time period
• Having more revolving loans in relation to installment loans
• Borrowing from finance companies

What doesn’t affect your score?

• Income
• Length of residence
• Length of employment

How do you improve your score?

• Make all payments as agreed
• Pay down credit cards
• Slow down on opening new accounts
• Acquire a solid credit history with years of experience
• Move revolving debt to installment debt
• Don’t close oldest reporting trade line
• Stop using credit cards that do not report credit limit
• Do not close credit cards because capacity will decrease

Good Credit has its Rewards...
Many things in your life are based on your credit score. Whether you are buying a car, a house, renting an apartment, or even applying for a job, your credit is being reviewed. Having poor credit can have a negative impact on your life in many ways. Day Air Credit Union wants to help you increase your credit score to save you money and improve your financial well-being. Our loan professionals will sit down with you one-on-one and review your credit report to show you: what makes up your score, what actions can and cannot hurt your score, and how to improve your score so you can save money! The higher your credit score, the better rate you will receive on loans, which can save you thousands of dollars over the life of the loan. We are committed to helping you build good credit...call us today to schedule an appointment! 937-643-2160 • 888-DAYAIRCU

Credit Score Enhancement
Whether you want to know how to improve your score and clean up your report, or even just understand how to read it - we're here to help.

Just contact us to set up an appointment