The Citizens BlogBelow are blog posts that relate to consumer loans and other financial matters you may find helpful.How to Establish Credit When
you credit is less than perfect, you can find it very difficult and frustrating
when looking to make certain purchases.
The same can be said when you don’t have any credit history. At Citizens Savings & Loan, we have
helped many not only re-establish credit, but we can also help establish credit
history. For over 90 years, we have
helped people reach their financial goals by offering a solution to their
credit dilemmas.
Personal Loans Taking out a personal loan is helpful when you need cash fast, and it also helps establish a credit history. We provide quick service to our customers looking for a personal loan. We often have personal loans ready the same day you phone one of our locations with your request. This quick turnaround gives you an opportunity to start building your credit history in a timely manner. Automobile or Truck Loans Before you talk to a dealer, talk to us first about an automobile or truck loan. Knowing how much money you can borrow in advance will help you negotiate a better price with the dealer, and it sets you off on a path of establishing a credit history. Below are some reasons why you should talk to us first:
Helpful Resources
Posted: April 26th, 2011 | Permalink
Tips for Rebuilding Your Credit Score It’s
not uncommon for any of us to run into unforeseen financial difficulties from
time to time. Emergencies happen and
when they do, you credit score may be the one that suffers the most. But there is a solution that can help you
rebuild your credit score.
Knowing what a good credit score is the first step to rebuilding your less than perfect credit. Credit scores range on a scale of 300 to 850. The higher your credit score is the better. A good credit score is 720 (although it used to be 680), and achieving this mark can be done if you follow a few simple tips. These include:
Posted: April 26th, 2011 | Permalink
Why Making Payments On Time is ImportantUnforeseen difficulties in life are often able to be overcome with personal financial flexibility. At Citizens Savings & Loan, we provide a wide range of loans including personal loans to help you catch up and get back on financial track. But beyond helping you overcome these unexpected difficulties, we also help our customers establish or re-establish their credit history. This is able to be achieved by making payments on time. Other advantages to making payments on time include:
All of the loans we provide are set up to help you reach your financial goals. If you would like to learn more about why making payments on time is important or if you would simply like to know more about our locations, please contact us today. We look forward to helping you. Office LocationsIf you are searching for a way to establish or re-establish your credit and are looking for a loan provider in Tennessee, get started today by applying online or visit one of our convenient locations in Tennessee.
Posted: April 26th, 2011 | Permalink
Types of Debt Consolidation LoansIf you have accumulated a large amount of debt, then you’re not alone. Many people have found themselves heavily in debt, but there is a solution. Debt consolidation loans come in many forms, but each are geared to helping you climb out of debt which can help increase your overall credit score. With a debt consolidation loan, you are able to combine all or some of your debt into one easy to manage payment. At Citizens Savings & Loan, we provide the following debt consolidation solutions.Personal Loans When you need $750 to $4,000 fast, you want it approved and handled now. We understand that. We know you are busy and need quick service, so we work hard to get you the cash you want without delays. Personal loans can be used to consolidate your debts. Simply phone one of our convenient locations and tell us what you want and what time you will be in. We can often have your money ready within hours. Bill Consolidation Loans If you have credit card and personal loan balances, a bill consolidation loan may allow you to combine all of your bills and monthly payments into a single convenient loan with a single lower monthly payment. You may also be eligible to receive extra cash in addition to the amount you need to pay off your other bills. For more information on debt consolidation or if you would like to learn more about the loans we provide, please contact us today. Office LocationsIf you are searching for a way to establish or re-establish your credit and are looking for a loan provider in Tennessee, get started today by applying online or visit one of our convenient locations in Tennessee.
Posted: April 26th, 2011 | Permalink
Why Bill Consolidation May be Your AnswerFinancial problems often occur when bills go unaddressed due to the oversight from having so many bills that come in each month. From credit card bills to personal loan balances, the time needed to address each one can become overwhelming. A bill consolidation loan however will allow you to combine all of your bills and monthly payments into a single convenient loan with a single lower monthly payment.At Citizens Savings & Loan, we have helped people achieve their financial dreams for over 90 years. One way we help is by providing a financial solution through a bill consolidation loan for those looking to pay off high interest credit cards. Our bill consolidation loans give you a lower interest rate and a longer payment term than your credit card and other personal loans. This means you often are able to substantially reduce your total monthly payments and increase the cash you have to spend for other things. Why Citizens?Citizens Savings & Loan Corporation (Citizens) is one of Tennessee's oldest consumer finance companies with offices in Bristol, Chattanooga, Cleveland, Dayton, East Ridge, Jasper, Knoxville, Johnson City, and Murfreesboro. Citizens began on November 24, 1917 as a general loan and savings company. While the savings and loan name has been retained for over 90 years, Citizens is not a savings and loan as they are known today. Citizens is a consumer finance company.Office LocationsIf you are searching for a way to establish or re-establish your credit and are looking for a loan provider in Tennessee, get started today by applying online or visit one of our convenient locations in Tennessee.
Posted: April 26th, 2011 | Permalink
Answering Questions about Credit ScoresAs one of the oldest consumer finance companies in
Tennessee, we have heard just about every question imaginable when it comes to
lending money and getting people back on the right financial path. Many of the questions we encounter deal
primarily with a person’s credit score.
Your credit score is very important as you look to make purchases in life
such as a home or an automobile. At
Citizens, we have a number of solutions for those interested in home,
automobile or personal loans, just to name a few. Below are some of the most
common questions we receive when it comes to credit scores.
How can I improve my credit score? Your credit score is a number that basically tells a lender how much risk you are as a borrower. This number ranges from 300 to 850. A good credit score is generally 680 and above. In order to improve your credit score, you should pay all of your credit and loan payments on time. A consistent trend of doing this will eventually improve your credit score. You should also follow these simple steps when looking to improve your credit score:
Is there a minimum credit score required to borrow from Citizens? We do not have a minimum credit score requirement like many other lenders. We do look at your credit score but it is only one of many factors we look at in reviewing you loan request. You will not be turned down just because your credit score is low. We realize that sometimes things beyond your control happen and have a negative effect on your credit history, and your credit score does not always reflect your ability to pay. We encourage you to view some of our tips for improving your credit score. Why is my credit score important? Your credit score is very important to many lenders. Many of those we do business with come to us when they are looking to improve their credit score. We are happy to say we have helped many people achieve their financial goals through our loan products. Learn more about why your credit score is important in a recent blog entry. What is the best credit score I can achieve? Credit scores range from 300 to 850. The best credit score you can obtain is 850. The higher your credit score is the better off you will be as you look to borrow money. At Citizens we do not have a minimum credit score requirement like many other lenders. We understand that things happen beyond your control and want to make sure we provide you with all the resources when you are looking to improve your credit score. Credit Score HelpAre you looking to improve your credit score? If so, we can help. Our loans help those with less than perfect credit make purchases while at the same time improving their credit score. If you are searching for ways to establish or re-establish your credit score, give us a call today and let us help. We look forward to hearing from you soon.
Posted: January 19th, 2011 | Permalink
Why Personal Loans May be Your Financial SolutionWe understand that things arise in life that can put a financial strain on you and your family. When this happens, it is important you have options to help you get back on your feet. Many times it is hard to obtain a loan which can help you with your financial hardships due to a low credit score. At Citizens Savings & Loan, we won’t turn you down for a loan due to a low credit score because we know all too well the type of curveballs life can throw at you. Personal loans can provide the type of financial breathing room you need to help catch up on other pressing payments.At Citizens Savings & Loan, we have provided personal loans for people in Tennessee since 1917. We are able to quickly provide $750 to $4,000 quickly and sometimes on the same day you apply for the loan. If you live in Tennessee and are looking for a personal loan, we encourage you to apply online today or simply stop in one of our offices which are located in the following areas:
Posted: January 19th, 2011 | Permalink
Why Consolidate your Bills? If you find yourself in financial hardships due to bills
that are becoming or have been outstanding, then you may want to consider a
bill consolidation loan. Bill
consolidation is an excellent solution for those that have high
credit card and personal loan balances.
By combining all of your bills and monthly payments into one, manageable
loan with a single lower monthly payment, you have the ability to quickly pay
off debts you thought may be impossible to eliminate.
Bill consolidation loans also help free up other cash. Being able to reduce your monthly payments can help increase the money you have so that you are able to spend it on other things. It can also be easy to forget dates in which payments are due. Having multiple bills come in every month (or every day) can be hard to keep track of. By consolidating your bills, your bills will come together in one, easy to pay bill. This convenience can also help you get on a schedule so that you know what is due and on what date. About Citizens Savings & Loan Citizens Savings & Loan is one of the oldest consumer finance companies in Tennessee. Since 1917, we have helped people get out of debt, establish or re-establish good credit and ultimately achieve financial freedom through our product offerings. In addition to bill consolidation loans, we provide the following loans.
Posted: January 19th, 2011 | Permalink
Why is my Credit Score Important?
Posted: January 19th, 2011 | Permalink
What is a Good Credit Score? Obtaining a loan isn’t a sure thing even if you have a good credit score. Your income, employment history and level of debt are also considerations lenders look at when it comes to providing a loan to borrowers. At Citizens, you are more than just a score. We have no minimum credit score requirements. Credit Score FactorsBelow are items that are factored together to come up with a credit score:
A good credit score use to be 680 or higher. Until recently however, that magic number has climbed to 720. Lenders are now looking for at least a 720 credit score in order to give borrowers the best terms on the loan being applied for.
Posted: October 26th, 2010 | Permalink
How to Repair Bad CreditRunning
into financial troubles can happen to any one of us at any time. When it happens, our credit suffers. However, you shouldn’t have to carry around a
bad credit score for the rest of your life.
There are ways to improve your credit score. Below are things you can do when looking to
repair bad credit.
Apply for a loan Applying for a loan is a great way to help you re-establish credit. Having cash available to help pay down or pay off debt is valuable. A loan will not only help you pay off all outstanding debts which will help in re-establishing good credit, but it also helps consolidate remaining debt into one manageable payment. Build new credit habits By now you know that your credit follows you wherever you go. This means you have a great opportunity in front of you to show you can manage your debt effectively. If you do have a credit card, only charge things you can afford. Also, be sure to make all credit card payments on time and avoid just paying the minimum balance. Practice your good habits Now that you know that good credit can replace bad credit, make a lifestyle change and put your newly formed habits to work. Making payments on time and above the minimum every month will go a long way in repairing bad credit. Once you make an affordable purchase with your credit card, start working your way to paying off that debt every month. Sticking to the tips listed above will put you on the right path to becoming debt free. Remember that habits take time to form as does your credit. Don’t get discouraged and make the proper decisions when you are looking to repair bad credit. Helpful Resources
Posted: October 26th, 2010 | Permalink
5 Tips to Improve Your Credit Score Having
a "not so perfect" credit score following you around is stressful and
costly. But there are solutions to help
you with your credit score issues. Below
are 5 tips for improving your credit score.
Stop using credit cards If you have a lower credit score, then chances are you are not able to meet the required payment obligations on time. The worst thing you can do is continue to rack up debt on credit cards with no plan to pay them off. Apply for a consumer loan Applying for a loan is a great way to get the cash you need in order to pay off outstanding debt like credit card debt. Find a consumer loan provider that will work with you to get you the right amount of cash so that you can start paying off high-interest debt. Contact your creditors Sometimes it’s not easy talking to the people that are constantly calling you for payment. Your creditors will work with you to get you on a payment schedule that can meet your specific financial situation. Get professional assistance There are financial institutions that can provide professional insight into improving your credit score. Being buried in debt can be overwhelming, and seeking their expert advice will go a long way in helping you achieve an improved credit score. Be patient You didn’t achieve an unfavorable credit score overnight and repairing bad credit won’t happen overnight either. Seek out professional help and practice good habit and over time, you will see your credit score improve. About Citizens Savings & Loan Citizens is one of Tennessee's oldest consumer finance companies. We offices conveniently located in Tennessee including Chattanooga, Knoxville, Murfreesboro, Dayton, Kimball, Johnson City, Cleveland and Bristol. We provide a wide range of loan products including:
Posted: October 26th, 2010 | Permalink
How can I improve my credit?
Do not use the entire credit limit on your credit cards or other lines of credit. Maxing out your cards has a negative effect on your credit score. Do not borrow more than you can afford to re-pay. Check your credit report to see that the information on the report is correct.
If you do not have any credit, opening a loan at Citizens or another lender or creditor will help you establish credit. Helpful Resources
Posted: August 31st, 2009 | Permalink
How can I compare loans?Often lenders will advertise or quote an effective rate of interest. This may be called the "note rate" or "headline rate." A loan with a lower effective rate of interest does mean that the loan costs you less. There are usually fees and other costs associated with a loan that are not included in the effective rate.One of the best measures to compare loans is to determine the amount on money you actually receive from the loan to the total amount of the payments you are required to make. This is what the Annual Percentage Rate (APR) does. The APR is the total cost of credit to the consumer, expressed as an annual percentage of the amount of credit granted. APR is intended to make it easier to compare different loan options. The APR does not reflect the cost of pre-payment penalties, late fees, NSF fees, etc. Be sure to ask a lender about these costs too.
Posted: August 31st, 2009 | Permalink
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Your credit score can be a blessing or a burden. Fortunately, at Citizens' its neither since we don't have a minimum credit score requirement like other lenders. A credit score is a three digit number between 300 and 850. 850 is the best possible credit score you can obtain. By having a good credit score, you can enjoy lower interest rates whenever you decide to borrow money. From home loans to automobile loans, borrowing money can not only be an easier process if you have a quality credit score, but can create lower payments for you over the life of the loan. 
The best way to improve your existing credit is to pay all of your
credit card and loan payments on time. This means the payment needs to
be received by the lender or creditor on or before the due date. Late
or missed payments will be seen as a sign that you may have trouble
handling credit.