763-391-9494
TopLine Federal Credit Union


Free Credit Reports
Obtaining your credit report and reviewing it every year is a smart move. At TopLine we’re happy to help you do just that.

First, request your FREE annual credit report at AnnualCreditReport.com. You can also request your free credit report over the phone at 1-877-322-8228, or by mailing your request to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

Second, stop by any TopLine Federal Credit Union branch location or call us at 763-391-9494 to arrange for your free credit report review. 

You are allowed to receive one report a year from each of the major credit agencies: Equifax, Experian and TransUnion. Even if you don't obtain all three reports at once, it's smart to review your report from each agency at least once a year because some credit accounts may not appear on reports for all three agencies.

Click here for a copy of a sample credit report along with descriptions.

Click here for an informational booklet on understanding the basics of your credit report and score.

Credit Building Tip Sheet

Credit Scores

What is a credit score?

A credit score is a numerical value assigned to you based on your credit history that summarizes your credit risk. The score ranges from 300-850, and the higher the score the better. Lenders use it to make credit decisions, such as the interest rate you get when you apply for a loan.

Where can you get your credit score?

There are a few different places that you can buy your credit score, but the most reputable one is MyFICO. You can also purchase your individual and 3-in-1 credit scores from each of the credit bureaus: Equifax, Experian and TransUnion. Keep in mind that each credit bureau has its own credit scoring model, so your credit scores could differ from each other and might even be different from your FICO score.

Typically, you'll need to pay for your credit score. There are certain instances in which you are entitled to your credit score for free, for example if you are denied a loan on the basis of your credit score.

Some websites that claim to offer free credit scores, only give you the score for free when you sign up for a free trial of a subscription service, like credit monitoring. You have to enter your credit card information, so if you forget to cancel the free service, your credit card will get charged.

How is your credit score calculated?

  • 35% Payment history – The first thing any lender wants to know is whether you've paid past credit accounts on time.
  • 30% Capacity/Amounts Owed/Debt-to-Credit Ratio – Percent of revolving credit that is available versus the percent that is used. It is suggested that no more than 20% of revolving debt should be used - shows your character and that you are responsible.
  • 15% Length of Credit History – how long credit has been available to you.
  • 10% Types of Credit – Number of accounts and mix of credit such as credit cards, retail accounts, auto loans, installment loans, finance company accounts and mortgage loans.
  • 10% New Credit – Number of accounts recently opened, number of recent inquiries. Research shows that opening several credit accounts in a short period of time represents a greater risk - especially for people who don't have a long credit history.

What will hurt your credit score?

  • Late payments will lower your score, but establishing or re-establishing a good track record of making payments on time will raise your score. Could take up to 2 years to restore credit with one late payment.
  • Maxing out credit cards. It is suggested that no more than 20% of revolving debt should be used.
  • Closing credit cards reduces your capacity.
  • Having more revolving credit in relation to installment loans.
  • Shopping for credit excessively - opening several new accounts in a short time span.
  • Bankruptcy
  • Lower scores mean higher costs when taking on car loans, mortgages, insurance, etc.

What to do to improve your score?

  • Pay your bills on time.
  • If you have missed payments, get current and stay current.
  • Keep balances low on credit cards and other "revolving credit."
  • Pay off debt rather than moving it around.
  • Don't close unused credit cards as a short-term strategy to raise your score.
  • Don't open a number of new credit cards that you don't need, just to increase your available credit.
  • If you have been managing credit for a short time, don't open a lot of new accounts too rapidly.
  • Do your rate shopping for a given loan within a focused period of time.
  • Apply for and open new credit accounts only as needed.
  • Have credit cards – but manage them responsibly.

Who use's your score?

  • Financial Institutions when opening your account.
  • Lenders when you apply for a loan (higher score = lower rate).
  • Insurance companies (higher score = lower rate).
  • Landlords.
  • Employers.
  • Cell Phone / Internet Companies.

Click here for an informational booklet on understanding the basics of your credit report and score.

If you have any questions, stop by any TopLine Federal Credit Union branch location or call us at 763-391-9494 to arrange for your free credit report review. 



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763-391-9494 in the Minneapolis/St. Paul Minnesota area. Outside metro area, call 800-626-1448.
© 2017 TopLine Federal Credit Union | 9353 Jefferson Highway Maple Grove, MN 55369 | Routing # 291074696
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