Credit Building Solutions
Understanding Credit Starts Here
Credit is a powerful financial tool that can help you reach your goals—from buying a car to building a secure future. Credit is the ability to borrow money with the promise to repay it over time, often with interest. Understanding how credit works, how to build it responsibly, and how it impacts your financial well-being is key to making confident, informed decisions. Whether you’re just getting started or looking to strengthen your credit, we’re here to support you every step of the way.
What is Credit?
Your credit score is a snapshot of your creditworthiness. It shows lenders how likely you are to repay borrowed money based on factors like your payment history, debt, and overall credit behavior.
Why Credit Matters
Your credit score can impact loan approvals, interest rates, renting opportunities, and more. A higher score can help you qualify for better rates, better terms, and greater savings.
How Credit Works
Your credit score is calculated using a handful of factors, including payment history, credit usage, account age, and overall debt, to show how responsibly you manage credit.
Loans for New Borrowers
At Family First, we offer financing for First-Time Auto Buyers who have limited credit history (or none at all). Finance your first vehicle and grow your credit score with Family First’s First-Time Auto Buyer Program!
Program Requirements:
- Borrower must 18 years or older
- At least 28 months of consistent work history to show steady income
- Down payment of at least 20% on the vehicle
After 12 Months of On-Time Payments:
- If your credit score has increased, you can refinance at a lower interest rate at no additional cost! (If your credit score has stayed the same or gone down, your interest rate will not change)
- Automatically pre-approved for a $1,000 Family First Visa Classic Credit Card
With a Starter Visa Classic Credit Card, borrowers with limited, poor, or no credit history can form healthy payment habits without the risk of an unsecured credit line.
The Process is Simple. We’ll secure the card with funds on deposit in a Family First account (Savings or Certificate of Deposit). This acts as collateral while you establish a strong payment history. After 9-12 months of on-time payments, you can reapply for an unsecured credit line, at which time we will release the hold on your funds. No risk. High reward!
Starter Visa Classic Features:
- Competitive low rates
- Credit limits from $500 – $5,000
- No annual fee
- No balance transfer fee
- No cash advance fee
Looking for a quick and convenient way to gain credit history or improve your credit score? A Family First Starter Loan can help!
Starter Loans are designed for individuals with limited or poor credit history (or none at all). The loan is secured by funds on deposit in a Family First account (Savings or Certificate of Deposit), giving borrowers access to a low fixed rate with no risk. As you make regular on-time payments, your score will improve, opening the door to future lending opportunities.
With our free Credit Score tool within online banking, you can watch your score improve in real-time!
Family First can help finance your current education or consolidate your prior education loans! In partnership with LendKey, we offer low-cost Private Student Loans that are designed to meet your education needs without breaking the bank. Borrow as little as $2,000 up to the amount of attendance per academic year for a maximum of $120,000 in undergraduate loans and $160,000 in graduate loans.
Student Loan Features:
- No Origination Fees
- Competitive Low Interest Rates
- 30 Day No-Fee Return Policy
- Easy Online Application & Fast Decision Making
Tools & Resources
Credit Score Tool
Set up real time alerts, access your credit report, check your credit score, get personalized credit-building tips, and more. Free for Family First members.
Calculators
Our easy-to-use calculators help you crunch numbers to find the best financial solution. Try our savings and loan calculators!
