What is a FICO score?
Your FICO score is a three-digit number that helps lenders assess how likely you are to repay borrowed money. FICO scores ranges from 300 to 850.
FICO Score Ratings
- 800–850: Exceptional
- 740–799: Very good
- 670–739: Good
- 580–669: Fair
- 300–579: Poor
Key Strategies for Avoiding Interest
Avoiding interest isn’t just about saving — it helps keep your credit healthy too. Here’s how:
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Pay the full statement balance on time
The easiest way to avoid interest is to pay your entire statement balance by the due date. This uses your card’s grace period when interest does not accrue on new purchases.
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Make payments on time
Late payments can lead to fees and a penalty APR. Set up automatic payments or reminders.
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Understand your grace period
After your statement closing date, there is a delayed period before interest begins to accrue (by law, it’s at least 21 days after the statement closing date).
For Elevations credit cards: Statements close on the 22nd and payments are due on the 19th of the following month — about 28 days.
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Avoid Cash Advances
They have higher interest rates and no grace period, so interest accrues immediately. Plus, there’s usually an upfront fee.
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Pay online when the cycle closes
To avoid trailing interest — interest that can accrue between your statement closing date and when you pay — make your payment in full online the day your billing cycle closes.
Money Management Resources
How can we help you?
Give us a call at (800) 429-7626 | Routing #307074580
*Annual percentage rate
^Annual percentage yield
**All credit union loan programs, rates, terms and conditions are subject to change at any time without notice. Rate shown as low as for qualified borrowers. Rate may change dependent on credit qualifications and underwriting factors. Please speak with an Elevations representative for more information. Offers of credit are subject to membership requirements and credit approval.