Payment history tracks whether you're paying your bills on time.
Paying bills late, not paying bills at all, and having bills that go to collections will likely cause your credit score to drop. Paying your bills on time will help increase your score. Most people have recurring bills and expenses like rent, utilities, car payments, and insurance. Since these bills have a fixed due date, you can use a Bill Calendar to chart your bill timing and compare it to income. Figuring out which bills to expect helps you plan to have enough money on hand. Some people find that thinking ahead helps reduce the stress when bills arrive. MMFCU has a
FREE Bill Pay service that can save you time and gives you peace of mind that the paying and mailing of payments are taken care of for you. Bill Pay saves you the cost of postage and helps you avoid late fees and other consequences of missed or late payments. Finally, we make monitoring your credit score easy and
FREE in
online banking or mobile app with Savvy Money®. So you can see the impact on your credit score!
