The Latest News For You
Keep up to date with news and announcements about Citizens Bank and your community.
Understanding Your Credit Score
Managing your personal finances can be complicated, but it doesn’t have to be. One valuable tool to help you do that is your credit score. This number, derived from your financial activity like credit card payments, determines your creditworthiness to banks and other lenders. The personal bankers at Citizens Bank are here to help you understand this number and why it is an important part of your financial health. What is Included in My Credit Score? A credit score is a number, typically between 300 and 850, that determines whether a lender should grant you credit. The average American has a credit score of 705. It is comprised of a variety of different factors and activities. You can increase or decrease your score depending on your financial habits. Below, we break down the various components of your credit score and their importance to your financial health. Open Accounts The type and number of accounts that you have open can impact your credit score. These accounts include credit cards, mortgages, and other loans like car loans. If you open a new…
Banking Considerations When Starting a Business
Starting a business can be an exciting adventure. It’s a venture that more people are embracing, with over 5.5 million new businesses launching in the United States alone in 2023. However, there is a lot you need to consider, including where and how you will bank. Citizens Bank is here to help you navigate your business banking needs. What Banking Services Does My Business Need? Much like you use several different banking services like checking accounts and credit cards as an individual, your business has equally complex financial needs. Below are some banking services your business will need to succeed. Business Checking Account To manage your cash flow, you need a checking account for your business. Various types of accounts are available depending on where you are in your entrepreneurial journey. Your checking account provides a register of all transactions that occur within your business, even those using your business debit card. Online Banking Regardless of which type of business checking account you choose, it is recommended that you use online banking for optimal convenience and security. As a busy…
What to Know When Applying for a New Credit Card
Selecting the right credit card can be complicated. With a variety of options, you may not know where to start. The personal bankers at Citizens Bank are here to help you navigate the process of choosing and applying for a new credit card. Why Do I Need a Credit Card? Just over 80% of Americans have a credit card. This tool can help you to conveniently make purchases and build your credit score. However, those are just two benefits that credit cards offer to consumers. Below, we explore others that may be of interest to you, depending on your financial goals. Rewards Along with providing discounts at certain retailers, some credit cards offer you the opportunity to earn points or cash back that can be used for purchases, flights, or other rewards. This benefit is especially helpful to those who travel regularly. Fraud Protection You know that credit cards are safer to carry than cash, but did you know that they can also protect you from fraud? In the event of suspected fraud, you can report it to the credit…
Online Banking 101: A Beginner’s Guide
Life can be busy. Between work, vacations, and family obligations, you may not have time to go to the bank. That’s why online banking can be a valuable asset in your financial management strategy. At Citizens Bank, we want to empower you to make the best decisions possible about your finances, including where and how you choose to bank. That’s why we’re here to help our members explore the many benefits that online and mobile banking can offer. The Benefits of Online Banking Due to its convenience, nearly 80% of Americans now prefer to use online banking. While you may know that online banking is more convenient than visiting a branch in person, you may not know about the other benefits this service offers. 1. Access Your Account Anytime If your personal schedule doesn’t allow you to visit your bank during its regular business hours, you can still access your account online 24/7. If you’re not near your computer, no problem. Many banks, including Citizens, have apps you can use to access your account on your smartphone. You can even…