“According to the Federal Reserve, consumer credit card debt in the US grew to a total of $1.02 trillion in November….that means that each adult is carrying an average of $4,000 in credit card debt.”*

Having a healthy credit report is important for everything from opening a new credit card, to renting an apartment, to joining a new cell phone plan. But the only way to have a good credit report is to maintain credit responsibly, which includes paying everything on time. If you’re looking for ways to build your credit, Westport Federal Credit Union has these helpful tips:

  • Set up automatic monthly bill payments from a bank account.
  • Pay your full balance by the due date (and save on interest too by doing so).
  • Become an authorized user on a family members’ card to build credit faster.
  • Apply for a share secure loan from Westport Federal Credit Union. You can borrow against your existing funds and no credit is required. If you have the money, you’ll be approved!
  • Pick the right credit card – At Westport Federal Credit Union we offer credit cards with an APR of 11.99%!


If you don’t have a credit card or don’t want one, here are some ways you can build your credit without a credit card:

  • Pay student loans diligently. Your college degree has probably resulted in some debt. Student loans are reported to the credit bureaus, so paying them monthly will help build your credit.
  • Take out an auto loan. Auto loans use the vehicle as collateral, which can make it easier to obtain the loan.
  • Ask your landlord and utility companies. If you have been paying your bills on time, a positive report can be made and sent to the credit bureaus.

Building and maintaining a high credit score will allow you to expand your options.  At Westport Federal Credit Union we have you covered. Secure your financial future with us.

To read more of our weekly blog posts click here.

To watch our Credit Building video click here.

*Source: https://www.debt.org/faqs/americans-in-debt/
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