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Freedom First Credit Union How to Finance Your Home Improvement Projects

Your home is more than just a house. It’s where you create memories with friends and family. It’s a reflection of you and your personality. It’s a financial investment. And, since the pandemic started, it’s a place where you spend a lot of time!

Customizing your living space to fit your needs and building an environment where you feel comfortable is a common goal among homeowners. However, deciding the right way to finance these projects can be quite confusing.

From upgrading furniture to remodeling a kitchen or even putting in a pool, there are a variety of financing options available. To find the solution that will work best for your project, review the following alternatives below.


Freedom First Credit Union Dos & Don'ts of Getting Your First Credit Card

Dos & Don’ts of Getting Your First Credit Card

Opening your first credit card can be both an exciting and daunting experience. On the one hand, a credit card offers more financial freedom and flexibility. On the other hand, you likely heard horror stories of people falling into a debt cycle that’s hard to escape.

The truth is that you should start working to build your credit score as soon as you’re able. Even if you have no plans to purchase a car or rent an apartment anytime soon, building credit takes time. And while it may seem backward, one of the best times to build credit is when you’re a young adult with limited financial obligations.


Freedom First Credit Union Double Check Your Loans Before the End of the Year

With the holidays quickly approaching, your mind is probably focused on gift lists, decorations, travel plans, and family events. But the end of the year is also the perfect time to review your loans.

While loans typically make up members’ largest monthly expenses — from mortgages and car loans to student loans and credit cards — they also provide some of the most significant saving opportunities. Taking time to review your existing loans and looking for opportunities to save could put you in a much better financial position as a new year rolls around.


Freedom First Credit Union 6 Ways to Boost Your Credit Score

An excellent credit score is the ultimate goal of the financially responsible consumer. Those three magic digits tell a story of accountability, good financial sense, and the ability to spend mindfully. A great credit score also unlocks doors for large, affordable loans; employment opportunities, and more.

Its significance notwithstanding, achieving and maintaining an excellent credit score is easier said than done. There is no quick and easy way to dramatically boost your score over a short amount of time, but you can take steps to increase your credit score gradually. Below, we’ve listed six ways you can start amping up your credit score today.


Freedom First Credit Union How a Credit Card Balance Transfer Works

Credit card debt is one of those things that can easily sneak up on you. This can especially be the case when you have high-interest credit cards in your wallet. Luckily, there’s a strategy you can use to get your credit card debt back under control and save money at the same time called a balance transfer.


Freedom First Credit Union What is a Good Credit Card Rate?

It’s easy to fall for tempting credit cards offering exciting reward options. People are lured to them all the time. Unfortunately, when they do, they often get locked into exceedingly high-interest rates.

We want you to have a better understanding of credit card rates. Then you can make informed decisions about whether or not a credit card offer is simply “too good to be true” based on the interest rates you’ll pay to earn these rewards.


Freedom First Credit Union Your Complete Guide to Using Your Credit Cards

Q: I’d love to improve my credit score, but I can’t get ahead of my monthly payments. I also find that my spending gets out of control when I’m paying with plastic. How do I use my credit cards responsibly?

A: Using your credit cards responsibly is a great way to boost your credit score and your financial wellness. Unfortunately, though, credit card issuers make it challenging to stay ahead of monthly payments and easy to fall into debt with credit card purchases. No worries, though; Freedom First is here to help!

Here’s all you need to know about responsible credit card usage.


Freedom First Credit Union How Does our Rewards Credit Card Compare to Others?

Are you getting the most out of your credit card? We listened to our members and added new rewards you can earn in the first three months and beyond. We also have nationally competitive rates that rival many banks* — right here in your community.


Freedom First Credit Union How Does our Business Rewards Credit Card Compare to Others?

Are you getting the most out of your Business credit card? We listened to our members and added new rewards you can earn in the first three months and beyond. We also have nationally competitive rates that rival many banks* — right here in your community.


Freedom First Credit Union Understanding The Credit Card Trap

Did you know the average American household carries $6,358 in credit card debt?

 

If that doesn’t sound too alarming, consider this: A debt of $5,000 with an interest rate of 24.99% (which is the current rate of a typical Capital One or Citibank card), where only the minimum payment is made each month and no additional charges are made to the card, accumulates $4,823 in interest over five years. That means the cardholder would be paying nearly double the amount that was originally spent!


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