Credit Basics

Understanding Your Responsibilities Will Improve Your Credit!

By following a few simple guidelines, you can begin to develop a positive credit history and take advantage of the opportunities that the world has to offer. If you don’t pay attention to these credit basics, you could find yourself with poor credit history, which can haunt even the best-intentioned individuals for years. However, proper handling of your account reflects your ability and willingness to use your credit responsibly. This reflects positively on your credit record and can also qualify you for additional credit in the future.

Send at least your minimum payment on time every month.

It is in your best interest to make your monthly payments on time each month. Please be sure to mail your payment so that it will be received at the Bank by your Payment Due Date. If you do miss a payment, contact us to make a payment arrangement as quickly as possible.

Read and retain your Applied Bank Credit Card Agreement.

The terms and conditions of your credit card account are detailed in the Applied Bank Credit Card Agreement. By using your account, you are agreeing to those terms and conditions. If you use your card at any time, you will be responsible for the fees that appear on your statement, as well as your charges. It is important that you read and retain this important document. If you have second thoughts about using your new account, please destroy the card immediately and notify us in writing of your decision.

Obtain and review a copy of your credit report.

Applied Bank will report your account and payment history to consumer reporting agencies. Paying your account on time each month can help you qualify for a future automobile loan or home mortgage and could even help you land a new job. You should realize, however, that you have the right to review your credit report upon request; we recommend that you do so at least once a year. It is important to review it and correct any errors that might negatively affect your current or future credit rating. To receive a copy of your report, call or write these consumer reporting agencies:

TransUnion LLC
TransUnion
2 Baldwin Place
P.O. Box 1000
Chester, PA 19022
1-800-888-4213
www.transunion.com

Experian National Consumer Assistance Center
Experian
P.O. Box 2104
Allen, TX 75013
1-888-397-3742
www.experian.com