Step 3 – Understanding How to Establish a Good Credit History

The main key to establishing a good credit history is to honor your promise to repay loans or credit cards as agreed, in a timely manner (before the payment due date).

For example, at Third Federal your mortgage payment is always due on the 1st of the month.

Always Pay On Time!

Planning ahead is a key to maintaining your credit.

Consider opening a separate checking or savings account, which will be your emergency account. If you have a hardship you have a reserve to pay unexpected expenses. Rule of thumb is that you should maintain 6 months of income in your emergency account.