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Ways to Help Your Budget
BudgetSmart is a new and exciting software program now available on our website. This easy-to-use software tool uses simple graphics, "pop-up" boxes and bar charts to help you manage your money more effectively. You can use the program to:
- Establish a budget
- Track spending
- View tips for improving areas of overspending or inadequate saving
- Experiment with "what if" scenarios to determine how a major purchase or change income would impact your budget.
Click on the budget smart logo or here to download the program to your computer FREE of charge, and you're on your way to creating your own personalized budget!
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Preferred Federal Credit Union is excited to announce AlertMe, a new credit-monitoring service designed to help members fight Identity Theft, which is a growing problem that affects millions of Americans. AlertMe gives early warning of activity on your credit report. Since credit report activity can be a sign of possible Identity Theft, early detection can help you catch problems quickly to minimize losses.
AlertMe monitors your Experian credit file daily. New accounts, credit cards over the credit limit, and address changes are just a few of the items AlertMe monitors. If an activity occurs, AlertMe will send you an email alerting you to the activity. You can log into the AlertMe Web site to read details about the activity and determine if it is suspicious. AlertMe will also send an email to remind you to order your annual free credit reports.
The AlertMe cost is $4.25 month. Quarterly and annual plans are available at a reduced rate. To enroll or learn more, simply click on the AlertMe icon on our homepage or simply click on the AlertMe icon above.
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 Top 5 Ways to Improve Your Credit Score
A good credit history is a very important and valuable asset that all consumers need to keep safe. Good credit, and plenty of it, will lead to a good credit score. A good credit score in turn leads to better loan and insurance rates. Plus, it can affect you in many other ways. A credit score is made up of a complex set of factors that credit reporting agencies use to determine a score. So, it's not cut and dry that by doing one of these tips it will launch your score to all time highs. But, if you do all of these steps it will lead, over time, to a much improved score.
Be Punctual - Pay all your bills on time. Late payments, collections, and bankruptcies have the greatest negative effect on your credit score.
Check Your Credit Report Regularly and Take the Necessary Steps to Remove Inaccuracies - Don't let your credit health suffer due to inaccurate information. If you find an inaccuracy on your credit report contact the creditor associated with the account or the credit reporting agencies to correct it immediately. Starting March 2005, in the state of Michigan, consumers are allowed one free credit report every 12 months from a credit reporting agency. For your free annual credit report you can go to www.annualcreditreport.com, by phone at 1-877-322-8228 or by mail at Annual Credit Report Service P.O. Box 105281 Atlanta, GA 30348-5281. Or, if you are interested in more detailed credit report and tracking options Click Here.
Watch Your Debt - Keep your account balances below 50% of your available credit. For instance, if you have a credit card with a $1,000 limit, you should try to keep the balance owed below $500.
Give Yourself Time - Time is one of the most significant factors that can improve your credit score. Establish a long history of paying your bills on time and using credit responsibly. You may also want to keep the oldest account on your credit report open in order to lengthen your period of active credit use.
Avoid Excessive Inquiries - A large number of inquiries occurred over a short period of time may be interpreted as a sign that you are opening numerous credit accounts due to financial difficulties or overextending yourself by taking on more debt that you can easily repay.
Resource Information from:
TrueCredit is a product of TrueLink, a TransUnion company.
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Preferred FCU
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