YOUR FINANCIAL QUESTIONS ANSWERED
LEARN MORE. LIVE MORE.
“Can loans build credit?”
Absolutely. If managed responsibly, taking out a loan can help to build credit scores by establishing a successful monthly payment on your credit report each month.
The benefits of building credit are:
- Opens up the possibility of lower interest rates on loans
- Gives access to better credit cards
- Increases the likelihood of of gaining approval for renting apartments
- Increases the likelihood of taking out a mortgage
- Demonstrates your ability to pay your debts
Education Credit Union, which serves Amarillo, Bushland, Canyon and other areas in West Texas, offers home loans, new and used auto loans, credit cards, CD accounts, savings and checking accounts and much more.. Get more information and apply now!