Overcoming the Uphill Climb - Ashland Community Federal Credit Union

Overcoming the Uphill Climb

Overcoming the Uphill Climb

How knowing what to expect from your credit score can help you come out on top

Numbers are a fact of life.  We each have one.  People can, and do, define you by your number.

What is your address? 

How old are you? 

How much do you make? 

What year is your car? 

The number you give will set an impression on others.  It’s not fair, but it’s the way it is.  When your number is a low credit score, you may be treated differently. 

Here’s what you should expect, and how to overcome the limitations:

A lower credit score can

  • Trigger higher interest rates.   This is because borrowers with lower credit scores are seen as having a higher risk of defaulting on their payments.  There is some truth to this, but be on the lookout for lenders who want to take advantage.  Shop around for better deals and for people who want to help you, not exploit you
  • Make it hard to get credit.  This can make it more difficult to obtain loans, credit cards, or other things you may need to rely on.  Here is where you need to find a lender who cares about you, first.  At the Ashland Community Credit Union, we know that sometimes bad things happen to good people.  Tell us your story…not your number.  

  • Lead to higher insurance premiums for auto, homeowners, and other types of insurance. This costs more money, which is likely already an issue.  To battle this, one smart move is to get a car that costs less to insure.  An auto loan with the right rate on the right car can be a smart financial move and can save on insurance.  Ask us to help guide you.

  • Increase likelihood  to pay security deposits.  When setting up utility services or renting an apartment, landlords and utility companies may require a security deposit from borrowers with lower credit scores.  Make sure you find this out before you make commitments, as everything adds up and you need to plan for this.

People aren’t trying to hurt you.  They are trying to help themselves.  There is a difference. Find someone who is on your side, all of the time, and can help you help yourself not just to a better number, but to a better life.  Contact us.  We can help.  

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1123 Sugarbush Drive
Ashland, Ohio 44805
(419) 289-6211

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