1. Cancelling Credit Cards helps your credit score...

Depending on your credit history, cancelation could either help or hurt your credit score. There are many factors to review. The length of time you’ve had that card is an important factor. Accounts that you’ve maintained for longer amounts of time can help improve your credit history, while closing them may damage your credit score. Before you cancel your cards, be sure to weigh the value of your history with that card.

2. Applying for Credit Cards does major damage to your Credit Score…

Applying for a Credit Card does create a “hard inquiry”, but does not permanently damage your credit score. It may create a temporary dip, but new cards may help your debt to credit ratio and improve your score. With this in mind you should not apply for too many cards, especially if you have a limited credit history.

3. Using a Credit Card means you’re taking on debt…

This is not always true. If you pay your balances each month, you can gain rewards from using your credit cards without having to pay the interest rates. It all depends on how you use your credit card as to how much debt you take on.

Vehicle Driving in Snow

Winter has arrived. Whether you're excited for the cold climate or dreading it, you still have to be prepared. Is your car ready for the cold temps?

Battery

To keep your Battery up to par during the cold weather, you can perform a volt test before winter starts to make sure it's in good working order. If it's not, you'll probably want to consider a new battery before the cold weather hits so you're not stranded somewhere with a car that won't start in the low temps.

Woman shopping on laptop

Shopping online is easier than making your way through the holiday shopping shuffle, but it can be a little risky if you're not careful. Here's a few hacks that you can use to keep your information secure while browsing the web for the perfect Christmas gifts.

woman using laptop

Applying for a Beacon Checking or Savings account is easier than ever if you have Beacon Online Banking.

Simply log in and click "Add Product".

Online Banking