Financial Tips

Are Credit Monitoring Services Worth It

Here are five reasons why you should consider using a credit monitoring service.


Good Debt vs. Bad Debt

You need to know that the credit reporting agencies do look at the different types of credit through different lenses.


Higher Credit Limits Can Increase Your Credit Score

Borrowing less against higher limits reduces your credit ratio and can increase your credit score.


What If You Always Pay Cash

Keeping a credit card account open and active; even if you use it only occasionally can help your credit score, even if you prefer to use cash.


Why You Should Occasionally Use Cards

Keeping a credit card account open, even if you do not use it, can help your credit score more than closing the account.


Free Annual Copies of Your Credit Report

You are entitled to receive a free copy of your credit report each year from each of the three main credit reporting bureaus: Experian, TransUnion, and Equifax.


The information provided is not intended to be legal, tax, or financial advice or recommendations for any specific individual, business, or circumstance. TowneBank cannot guarantee that it is accurate, up to date, or appropriate for your situation. Financial calculators are provided for illustrative purposes only. You are encouraged to consult with a qualified attorney or financial advisor to understand how the law applies to your particular circumstances or for financial information specific to your personal or business situation.