BECOME A MEMBER
  • Become A Member
  • Contact Us
  • Login
  • Become A Member
  • Contact Us
  • Login
Camino Federal Credit Union new logo - See the New Look - New Logo Camino Federal Credit Union new logo - See the New Look - New Logo
  • Accounts
    • Checking
      • Elite Checking
      • Everyday Checking
      • Student Checking
      • Teen Checking
      • Digital Wallet
      • Apple Watch
      • Switch Kit
    • Savings
      • Membership Savings
      • Money Market Account
      • Certificate Accounts
      • Time Certificate Promotion
      • Refer A Friend
      • Individual Retirement Accounts (IRAs)
      • Summer Salary Savings
      • Christmas Club
      • Student Savings
      • Children’s Savings
      • Switch Kit
    • Credit Cards
      • Visa® Platinum with Rewards
      • Visa® Platinum with Low Variable Rate
      • Getting Started Visa®
      • Visa® Share-Secure
    • Rates
      • Auto Loans Rates
      • Bank Account Rates
      • Credit Cards Rates
      • General Loans Rates
      • Home Loans Rates
  • Loans
    • Auto Loans
      • Nearly New Auto Refinancing
      • New & Used Auto Loans
      • First Time Auto Loan Program
      • Second Chance Auto Loan Program
      • Lease Buy Out
      • Recreational Vehicle Loans
      • Motorcycle Loans
    • Personal
      • Credit Cards
        • Visa® Platinum with Rewards
        • Visa® Platinum with Low Variable Rate
        • Getting Started Visa®
        • Visa® Share-Secure
      • Share-Secure Loans
      • Personal Loans
      • Debt Consolidation Loans
      • Line of Credit
      • Furlough Loans
      • Smart Option Student Loan
    • Home Equity
      • Home Equity Loans
      • Home Equity Lines of Credit
    • Mortgages
      • Home Mortgages
      • Mortgages for Investment Properties
    • Rates
      • Auto Loans Rates
      • Credit Cards Rates
      • Bank Account Rates
      • General Loans Rates
      • Home Loans Rates
    • All Loans
  • Services
    • Online/Mobile Banking
      • Online Banking
      • Mobile Banking
      • Bill Pay & PopMoney
      • eStatements
      • Text Banking
      • Forms and Documents
    • Services
      • Surcharge-Free ATM Network
      • Shared Branching
      • Insurance Options from TruStage
      • Auto Buying Services
      • Telephone Banking
      • Additional Services
    • Lost or Stolen Card
    • Camino Workshop Series
    • Repay
    • Rates
      • Auto Loans Rates
      • Bank Account Rates
      • Credit Cards Rates
      • General Loans Rates
      • Home Loans Rates
  • About
    • About Camino
    • Become a Member
    • Community and Events
    • Location
    • Holiday Schedule
    • Careers
    • News
    • Advisor Appointment Center
    • Contact Us
  • Blog
  • Accounts
    • Checking
      • Elite Checking
      • Everyday Checking
      • Student Checking
      • Teen Checking
      • Digital Wallet
      • Apple Watch
      • Switch Kit
    • Savings
      • Membership Savings
      • Money Market Account
      • Certificate Accounts
      • Time Certificate Promotion
      • Refer A Friend
      • Individual Retirement Accounts (IRAs)
      • Summer Salary Savings
      • Christmas Club
      • Student Savings
      • Children’s Savings
      • Switch Kit
    • Credit Cards
      • Visa® Platinum with Rewards
      • Visa® Platinum with Low Variable Rate
      • Getting Started Visa®
      • Visa® Share-Secure
    • Rates
      • Auto Loans Rates
      • Bank Account Rates
      • Credit Cards Rates
      • General Loans Rates
      • Home Loans Rates
  • Loans
    • Auto Loans
      • Nearly New Auto Refinancing
      • New & Used Auto Loans
      • First Time Auto Loan Program
      • Second Chance Auto Loan Program
      • Lease Buy Out
      • Recreational Vehicle Loans
      • Motorcycle Loans
    • Personal
      • Credit Cards
        • Visa® Platinum with Rewards
        • Visa® Platinum with Low Variable Rate
        • Getting Started Visa®
        • Visa® Share-Secure
      • Share-Secure Loans
      • Personal Loans
      • Debt Consolidation Loans
      • Line of Credit
      • Furlough Loans
      • Smart Option Student Loan
    • Home Equity
      • Home Equity Loans
      • Home Equity Lines of Credit
    • Mortgages
      • Home Mortgages
      • Mortgages for Investment Properties
    • Rates
      • Auto Loans Rates
      • Credit Cards Rates
      • Bank Account Rates
      • General Loans Rates
      • Home Loans Rates
    • All Loans
  • Services
    • Online/Mobile Banking
      • Online Banking
      • Mobile Banking
      • Bill Pay & PopMoney
      • eStatements
      • Text Banking
      • Forms and Documents
    • Services
      • Surcharge-Free ATM Network
      • Shared Branching
      • Insurance Options from TruStage
      • Auto Buying Services
      • Telephone Banking
      • Additional Services
    • Lost or Stolen Card
    • Camino Workshop Series
    • Repay
    • Rates
      • Auto Loans Rates
      • Bank Account Rates
      • Credit Cards Rates
      • General Loans Rates
      • Home Loans Rates
  • About
    • About Camino
    • Become a Member
    • Community and Events
    • Location
    • Holiday Schedule
    • Careers
    • News
    • Advisor Appointment Center
    • Contact Us
  • Blog
Camino Federal Credit Union
Login
  • Accounts
    • Checking
      • Elite Checking
      • Everyday Checking
      • Student Checking
      • Teen Checking
      • Digital Wallet
      • Apple Watch
      • Switch Kit
    • Savings
      • Membership Savings
      • Money Market Account
      • Certificate Accounts
      • Time Certificate Promotion
      • Refer A Friend
      • Individual Retirement Accounts (IRAs)
      • Summer Salary Savings
      • Christmas Club
      • Student Savings
      • Children’s Savings
      • Switch Kit
    • Credit Cards
      • Visa® Platinum with Rewards
      • Visa® Platinum with Low Variable Rate
      • Getting Started Visa®
      • Visa® Share-Secure
    • Rates
      • Auto Loans Rates
      • Bank Account Rates
      • Credit Cards Rates
      • General Loans Rates
      • Home Loans Rates
  • Loans
    • Auto Loans
      • Nearly New Auto Refinancing
      • New & Used Auto Loans
      • First Time Auto Loan Program
      • Second Chance Auto Loan Program
      • Lease Buy Out
      • Recreational Vehicle Loans
      • Motorcycle Loans
    • Personal
      • Credit Cards
        • Visa® Platinum with Rewards
        • Visa® Platinum with Low Variable Rate
        • Getting Started Visa®
        • Visa® Share-Secure
      • Share-Secure Loans
      • Personal Loans
      • Debt Consolidation Loans
      • Line of Credit
      • Furlough Loans
      • Smart Option Student Loan
    • Home Equity
      • Home Equity Loans
      • Home Equity Lines of Credit
    • Mortgages
      • Home Mortgages
      • Mortgages for Investment Properties
    • Rates
      • Auto Loans Rates
      • Credit Cards Rates
      • Bank Account Rates
      • General Loans Rates
      • Home Loans Rates
    • All Loans
  • Services
    • Online/Mobile Banking
      • Online Banking
      • Mobile Banking
      • Bill Pay & PopMoney
      • eStatements
      • Text Banking
      • Forms and Documents
    • Services
      • Surcharge-Free ATM Network
      • Shared Branching
      • Insurance Options from TruStage
      • Auto Buying Services
      • Telephone Banking
      • Additional Services
    • Lost or Stolen Card
    • Camino Workshop Series
    • Repay
    • Rates
      • Auto Loans Rates
      • Bank Account Rates
      • Credit Cards Rates
      • General Loans Rates
      • Home Loans Rates
  • About
    • About Camino
    • Become a Member
    • Community and Events
    • Location
    • Holiday Schedule
    • Careers
    • News
    • Advisor Appointment Center
    • Contact Us
  • Blog
3 Mar 2020

Credit Scores: Who Looks At Them and Why Do They Matter?

by kwsm | posted in: Blog | 0

It’s National Credit Education Month and we wanted to share why it is important to have good credit. In this blog, you will learn about the significance of a credit score and why you should try to improve it for the future.

Who Looks At Your Credit Score?

Financing is often needed for larger purchases. These items could include purchasing a home, getting a student loan, or purchasing an automobile.  Anytime you need to take out a loan to buy something, your credit will be reviewed by the bank or entity lending you the money. There are other companies that might check your score as well.  

Below are some establishments who would potentially check your credit score before helping you or doing business with you:

  • Potential Creditors or Lenders
  • Credit Card Issuers
  • Auto Lenders
  • Landlords
  • Insurance Companies
  • Prospective or Current Employer
  • Government Agencies
  • Debt Collectors
  • Utility Services
  • School Loan Providers

Why Do Credit Scores Matter?

The credit score is a three-digit number ranging from 350-850 that determines what your risk of not repaying the loan is as a borrower. On average, most people want to have 650 or above in order to qualify for the loan, credit card, or insurance you want. With a credit score above 650, you will typically be able to have access to better interest rates.  Anything less than 650 can have a large impact on whether you are able to get credit, and if you do, it will likely be at a higher interest rate.

Once your credit score is checked, the lender can determine whether they want to take on “your risk”. The higher your score, the less of a risk you are to the lender. In contrast, the lower the score, the higher risk you are to them. With more risk, it means more costs and higher interest rates as a buffer.

Knowing the impact your credit score has on your future buying decisions is important. We want to help our members get the items they want and it helps by being informed. If you have any questions, feel free to speak with one of our Member Advisors, stop by our Montebello or Cerritos branch today, visit us online at caminofcu.org or give us a call at 800-835-3400. 

auto buying service, auto loans, auto refinance, banks Cerritos, banks los angeles, banks Montebello, buy a car, camino credit union, Camino FCU, Camino FCU East LA, Camino FCU Interest Rates, Camino FCU Montebello, Camino FCU Rates, Camino Federal Credit Union, camino member, car savings, car trade in, cd account, checking account, children's savings account, childrens savings accounts, christmas club savings account, christmas savings account, credit score, credit union, credit union Cerritos, credit union credit cards, Credit Union East LA, credit union loans, Credit Union Los Angeles, credit union Montebello, dates in cerritos, dates in montebello, debt consolidation loans, end of year car deals, Federal Credit Union East La, Federal Credit Union Montebello, first time auto loan, furlough loans, getting started visa, home equity line of credit, home equity loans, Home Mortgage Loans Montebello, how to talk about money, individual retirement accounts, ira, join a credit union, lease a car, line of credit, member of a credit union, membership savings, money market account, mortgage loan, offers, pay with cash, personal loans, Personal Loans East LA, Personal Loans Montebello, rv loans, savings account, savings accounts, senior checking, share certificate account, shop early, student loan, student savings account, summer salary savings account, talk about money, teen checking account, teen savings account, trade in car, visa low interest rate, visa with rewards

Categories

  • Auto Loans
  • Blog
  • Budgeting
  • Debt Consolidation
  • Financial Tips
  • In the Community
  • Loans
  • News & Events
  • Our Culture
  • Promotion
  • Uncategorized

Camino Federal Credit Union new logo - See the New Look - New Logo

Montebello Branch

520 N Taylor Ave
Montebello, CA 90640
(323) 722-3400

 

Support

Consumer Protection

Lost or Stolen Card

Check Loan Status

Member Service

(800) 835-3400
Contact Us

Connect With Us

Equal Housing Lender
Equal Housing Lender
National Credit Union Administration
National Credit Union Administration
© 2023 - All rights reserved - Federally insured by NCUA, Equal Housing Lender | NMLS ID 666196     Disclosures Privacy Policy
Mobile Banking: Standard data & messaging rates apply.
If you are using a screen reader or other auxiliary aid and are having problems using this website, please call 800-835-3400 for assistance.
Also, all products, services and information available on this website are also available at any of our physical branches, where we would be happy to assist you further.
We use cookies to personalize content and to analyze our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services.OKNoPrivacy policy
We use cookies to personalize content and to analyze our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services.OKNoPrivacy policy