RiverTrace will be closed on Friday, November 10 in observance of Veterans Day.

Understanding your credit report.

Your FICO® score is one of the most important numbers you'll ever have. A low score can keep you from getting approved for a loan or from being able to rent an apartment. And it will probably cost you more in insurance premiums, loan rates and can even prevent you from being considered for a job.

When creditors look at your FICO® score, they are literally assessing your "creditworthiness," or your ability to pay them back. The higher your score, the lower a risk you are and the lower the loan rates you'll be able to get if you are approved for a loan.

Here's a general guideline of how creditors rate you based on your credit score:

Score Grade
760-850 Excellent
700-759 Very Good
660-699 Good
620-659 Not Good
580-619 Poor
500-579 Very Poor

This online booklet, Understanding Your FICO® Score, provides extensive information on what makes up your credit score and your score impacts your life. We encourage you to read it, and we're pretty sure that it will be a real eye-opener.

If you've already had some setbacks that have damaged your score, give us a call or stop by the branch. We'll help you Chart Your Path to rebuilding your credit and strengthening your score.

If you're not a member yet, let RiverTrace help you Chart Your Path. It's easy to enroll and we can take care of it for you when you open an account or apply for a loan.

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