At UKRFCU, we believe that financial education is the foundation of financial freedom, especially for Gen Z. Whether you’re heading off to university, starting your first job, or planning for your future, one of the smartest moves you can make is to start building your credit now.

But what exactly is a credit score, and why does it matter?

Let’s break it down in a way that makes sense: your credit score is like your financial GPA.

Credit Score = Financial GPA

Just like your GPA (Grade Point Average) reflects how well you’ve done in school, your credit score shows how well you manage your money, especially when it comes to borrowing and repaying.

How to Keep Your “Financial GPA” High

• Turn in your assignments on time → Pay your bills on time
• Don’t skip classes → Don’t miss payments
• Don’t overload your schedule → Don’t max out your credit cards
• Check your grades regularly → Monitor your credit reports

Why Building Credit Early Matters

Your credit score is a three-digit number (typically between 300 and 850) that lenders, landlords, and even some employers use to assess your financial reliability. Starting early gives you a head start on:

• Lower Interest Rates – Save money on loans and credit cards.
• Better Loan & Rental Approvals – Get approved faster and with better terms.
• Job Opportunities – Some employers check credit for roles involving financial responsibility.
• Financial Independence – Qualify for essentials like car loans, mobile contracts, and utilities without a co-signer.
• Emergency Flexibility – Access credit when unexpected expenses arise.

How to Start Building Credit with UKRFCU

Getting started doesn’t have to be complicated. Here’s how you can begin building your financial GPA today:

1. Open Your First Credit Card

UKRFCU offers Visa credit cards and provides a Platinum Credit Builder (Credit Cards – Ukrainian Selfreliance Federal Credit Union), ideal for those individuals looking to build or rebuild their credit score. Use your card for small purchases and pay off the balance in full each month.

2. Pay Bills on Time

Whether it’s a mobile phone bill, student loan, or streaming subscription, consistent on-time payments build a strong credit history.

3. Monitor Your Credit

Stay informed by checking your credit score through your UKRFCU online banking or app, or other third-party services. You’re entitled to one free credit report per year from each of the major credit bureaus—use it to spot errors and track your progress. To view your Credit Report through UKRFCU or register, click here: (UKRFCU Credit Report – Ukrainian Selfreliance Federal Credit Union)

Credit Mistakes to Avoid

Even with the best intentions, it’s easy to make missteps. Here’s what to avoid:

• Missing Payments – Set up reminders or autopay to stay on track.
• Overspending – Keep your credit usage below 30% of your limit.
• Opening Too Many Accounts – Each application can slightly lower your score.
• Closing Old Accounts – Older accounts help your credit history, so keep them open if possible.
• Ignoring Your Credit Report – Mistakes happen. Check your report annually and dispute any errors.

Let UKRFCU Help You Build a Strong Financial Future

Just like you wouldn’t wait until graduation to care about your GPA, don’t wait until you need a loan to start building credit. At UKRFCU, we’re here to help you every step of the way with tools, resources, and personalized guidance.