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Protect Your Score

By Chris O’Shea*

How to maintain a good credit score during the coronavirus outbreak

Maintaining a good credit score can be stressful. Add something like the coronavirus to the mix and things get even harder. Don’t let this pandemic ruin that score that you worked so hard to obtain. Here are some tips for keeping that score high even as Covid-19 changes everything around us.

Check your Reports

Many financial institutions offer free unlimited credit report access.** If you don’t have access to your report through your financial institution the three major credit bureaus — Equifax, Experian and TransUnion — are all offering free, weekly credit reports for the next year. Just as before the coronavirus, check your credit report often. If there are any false claims, report them immediately through the bureau.

Reach Out

If you’re having trouble making timely payments (an important part of keeping a high score) contact the companies and ask for leniency. Many lenders and other companies are providing financial help to people negatively impacted by the virus.

Pay Debt if Possible

If you’re currently financially stable and carrying debt, pay it down right away. The reason? You don’t know what the future holds and the coronavirus makes things even more uncertain. Pay close attention to your debt now so that if things do take a turn for the worse, your debt will be manageable and your credit score will be in good standing.

* This guest article, Protect Your Score, is from the “Your Money Blog” in Mid Oregon’s online banking Protect Your Score By Chris O'Shea | Mid Oregon Credit Union's Credit Savvy Icon“Credit Savvy” resource. Protect Your Score is made possible by Savvy Money.

** Mid Oregon Credit Union offers free unlimited credit score access through our online banking “Credit Savvy” resource. Visit Mid Oregon’s Digital Banking Features page to learn more.