The Partnership Federal Credit Union

Consumer NEWS You Can Use

The Partnership FCU Products & Services Offerings - Click here for complete details!

Untitled Document


3 easy steps to lower monthly payments

(Without winning the lottery!)

Unless you’re one of the two percent of Americans who actually know their credit score (let alone what a credit score really is) you might be paying too much for loans and credit cards. The three steps below will help you get a handle on debt and identify opportunities to lower rates, which in turn may lower your payments.

  1. First, get a free credit report and fix any outstanding issues. Research shows that up to 25% of credit reports may contain errors that result in denial of access to credit. To get a free credit report with no strings attached go to or call 1-877-322-8228. Review your report and take action to correct any mistakes. An incorrect credit report can increase your credit score, which in turn decreases the rates you pay on loans.

  2. Next, check your current interest rates on all credit cards (including retail store cards). There should be a customer service number on the back of all credit cards plus the information is on your statements. Then contact your credit union or other financial institution and ask if you can roll over credit card balances at lower rates to reduce monthly payments or pay off debt faster. You might be surprised at some of the high rates you’re paying today. Plus, consolidating credit card balances makes managing payments easier.

  3. Next, do the same rate research on all loans with over six months left to pay off. Find out the rates you’re paying and look for options to refinance at lower rates at your credit union or other financial institution.

    If you think trying to roll over balances on credit cards and refinance loans is too big a hassle or too confusing, you just may be surprised. Online and phone loan applications with streamlined procedures have simplified the application process and you often get a response within hours.

Being smart about managing debt can save you money each month and get you out of debt faster. Our representatives are waiting to help you walk through your options – call us today!