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Credit Scores & Reports

Keeping track of your credit report is a smart move. Not only can it help alert you of possible identity theft, it’s also a way to make sure your information and credit history are correct–which is especially important if you’re about to apply for a loan.

To help keep our members from being affected by fraud, sign up to receive IDProtect® coverage when opening an Ignite Rewards Checking Account. IDProtect® is a service that provides continuous identity and credit monitoring, as well as other credit, fraud and recovery resources.

If you are currently overrun by debt and need assistance, our association with GreenPath Debt Solutions® is an additional service we offer as a benefit to our members.

What determines your credit score?

  • 35% Payment history (ie on-time payments, or delinquencies)
    • Current payment history weighted more heavily
  • 30% Capacity (Capacity is King)
  • 15% Length of credit
  • 10% Accumulation of debt within the last 12 – 18 months
    • Number of Inquiries
    • Opening dates
  • 10% Mix of credit
    • Installment (debt can raise) vs. revolving (debt can lower)
    • Finance company loans (can lower score)

How can you improve your score?

  • Pay off or pay down on your credit cards
  • Do not close credit card accounts because capacity may decrease
  • Move your revolving debt into installment debt
  • Continue to make payments on time (older late payments will become less significant with time)
  • Slow down opening new accounts
  • Acquire a solid credit history with years of experience

What actions will hurt your credit score?

  • Missing payments (regardless of dollar amounts – it can take up to 24 months to restore credit with one late payment)
  • Credit cards at maximum capacity (maxing out credit cards)
  • Shopping for credit excessively
  • Opening up numerous trades (credit lines) in a short time frame
  • Having more revolving credit debt in relation to installment credit debt
  • Closing credit card accounts (this could lower available capacity)
  • Borrowing from finance companies

What does not affect your credit score?

  • Debt ratios
  • Income
  • Length of residence
  • Length of employment

Approximate credit weight for each year:

  • 40% Current to 12 months
  • 30% 13 – 24 months
  • 20% 25 – 36 months
  • 10% 37+ months

As an American consumer you’re entitled to one free credit report per year, from each of the big three consumer credit bureaus (Equifax, Experian and TransUnion). That’s right; it’s free. So really, there’s no reason not to give them a call.

Annual Credit Report Request Service

You can order a credit report from one or more national consumer reporting companies through the Annual Credit Report Request Service.

P.O. Box 105281
Atlanta, GA 30348-5281

You can receive one credit report per year at no charge by visiting To order your credit reports directly, call 1.877.322.8228.


You have the right to a free credit report from or 877-322-8228, the ONLY authorized source under federal law. Read more at FTC.GOV.

P.O. Box 9532
Allen, TX 75013
To order your credit report directly, call 1.888.397.3742

Mailing Address for Fraud Division:
Experian Fraud Division
P.O. Box 1017
Allen, TX 75013

To report fraud, call 1.888.397.3742

P.O. Box 740241
Atlanta, GA 30374-0241
To order your credit report directly, call 1.800.685.1111

Mailing Address for Fraud Division:
Equifax Fraud Division
P.O. Box 740250
Atlanta, GA 30374

To report fraud, call 1.800.525.6285

TransUnion, LLC
P.O. Box 1000
Chester, PA 19022

To order your credit report directly, call 1.800.888.4213

Mailing Address for Fraud Victim Assistance Department:
TransUnion Fraud Victim Assistance Department
P.O. Box 6790
Fullerton, CA 92834-6790

To report fraud, call 1.800.680.7289

Innovations Federal Credit Union meets all USA Patriot Act Identity Verifications.

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