SUMMARY: Building and maintaining good credit will help you set a healthy financial foundation.

With a credit score of 670 or higher, you’ll be in a better position for future financial needs, including: getting approved for a loan, obtaining a mortgage for your new home or qualifying for a new insurance policy.

Start improving your credit score today with these helpful hints:

Pay your bills on time. This is one of the simplest ways to boost your credit score. Sign up for payment alerts or use autopay to ensure timely payments every time.

Keep your credit utilization ratio low. Your credit usage relative to your credit limit — also known as your credit utilization ratio — is a key determinant of your credit score. The higher the limit, the lower your ratio will be. As a rule, Experian recommends keeping this ratio below 30% to avoid negative impacts to your credit score.

Watch your credit score. Don’t wait until you’re sitting in front of a loan officer or filling out a mortgage application to hear what your current credit score is. As a Credit Union member, you can access your latest TransUnion credit score every time you log into online banking at no charge to you. You can also visit annualcreditreport.com to obtain a free annual credit report from each of the three reporting agencies (Equifax, Experian and TransUnion).

Automate your credit monitoring. Have your financial provider send you an alert when your credit score is updated or when someone applies for credit using your information. The Credit Union’s credit monitoring service provides this service at no charge to you.

Regularly check for errors, fraud and other issues. Approximately one in four Americans has an error on their credit report, which means your score could be impacted without your knowledge. Make sure your personal and financial information is accurate and that no one has opened any fraudulent accounts in your name.