A credit score has a large effect on your ability to obtain financing, rent an apartment, get a cell phone, and even get a job. And it’s really hard to get credit if you have no credit score. Doesn’t make sense, does it?

Our research showed that over half of our young adult members do not have a credit score. We want to change that through Dupaco's Great Credit Race and the education that all participants and race fans will learn along the way.

In May 2017, Dupaco's Great Credit Race began— a competition in which participants race to build their credit score from 0 to as high as possible in six months.

Each of the Racers received a Dupaco VISA credit card with a $1,000 limit and coaching on how the proper use of credit can help build and maintain a favorable credit score. The participant with the highest credit score at the finish line would win $1,000. And everyone won by establishing great credit.

Who's in the lead?

Race Updates

On a mission to help its members build their credit scores for a brighter financial future, Dupaco Community Credit Union’s Great Credit Race produced several winners. The six-month competition ended Nov. 15 in a three-way tie for first place and a two-way tie for second...Read more

As racers near the Great Credit Race finish line, the battle to build solid credit remains a three-way tie. With the race nearly over, the coaches share what they’ve gleaned from the competition so far...Read more

With Dupaco’s Great Credit Race at the halfway mark, it’s proving to be a close battle. The race leaders were stunned to learn about their top rankings. Not daring to mess with success, both plan to continue following their race strategies...Read more

Dupaco's Great Credit Race is just beginning, and the racers are strategizing how to quickly establish a solid credit score. All 14 participants received a Dupaco Visa credit card with a $1,000 limit and one-on-one credit coaching before the six-month credit-building competition kicked off May 1.

Now, it's up to the racers to apply what they've learned and start building their credit score from 0 to as high as possible. When it comes to using their first credit card, the racers are already employing different strategies...Read More

Your ability to obtain financing, rent an apartment and even get a job might all depend on your credit score. But it's hard to get credit without a score...Read more

Learn about credit

In today's world, credit is integrated into everyday life—it is borrowed money that you can use for purchases and then repay the funds back at an agreed-upon time. Services such as cable and telephone can be paid for on credit. For example, if you use phone or cable services for a month or two and then pay for them at the end of that period, you are receiving services on credit.

A personal line of credit allows you to have money available when you need it. This also has an interest rate, and the borrower can choose to use the entire credit limit at once or in smaller increments. This can be perfect for meeting ongoing credit needs such as renovating a home. A personal line of credit for an approved amount means that you do not have to keep going back for approval for each small amount you want to borrow on credit.

Credit cards allow a constant line of credit to spend and pay off regularly. You usually do not have to pay any interest as long as you pay the full amount by each due date. Before you spend using a credit card, you should be sure you can repay the amount on time, as some credit cards can have very high interest rates.

Mortgages allow you to buy a house and then pay back the amount owed at regular intervals. Mortgage payments amounts may vary. There are many different kinds of mortgages available with varying types of repayment plans.

When it comes to your personal credit, it pays to know your score. That's because many lenders—even some insurance companies—make decisions and charge rates based on your credit score. This number is calculated by credit bureaus and can range from the 300s to the 800s.

A score is a “snapshot of an applicant's potential risk at a particular point in time.” Scores fluctuate with time and changes in your credit performance, with the heaviest weight being given to your most recent credit activities. Past credit problems fade as time goes by and recent positive data accumulates.