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MSUFCU | Financial Library | Credit Report Information

Credit Report Information


Credit scores are used in more ways than many of us realize: Lenders, insurance companies, employers, landlords, and many others use your credit score to determine what services they offer you and how much you will pay for them.


To assist you in achieving your financial goals, MSUFCU is happy to provide you with information about how your credit score is determined and what you can do to attain the best possible credit score.


A credit score is a three-digit number lenders typically use to determine the likelihood you'll be able to pay them back. Below is a breakdown of how most lenders view your credit score.


Credit Score Ratings







Below Average 580–669
Risky <579

  • Late payments: It takes about 24 months to restore damaged credit from late payments.
  • Derogatory information: Credit inquiries remain on record for two years and other information can remain for seven years.
  • Credit cards with no availability: Cards with balances at their maximum credit limits can lower your score.
  • Opening multiple new accounts in a short period of time.
  • Closing revolving accounts with long-time history: This reduces the history of your accounts and lowers available credit limits.
  • Lowering credit limits on existing revolving credit lines: This also lowers your available credit limits.


MSUFCU Routing Number: 272479663

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