How to Build Credit on a Budget

when trying to build a positive credit file so you can get a loan, home, high limit credit cards, rent apartment, lower interest or improve your situation, one of the first things you need to do is lower your debt to ratio, this will raise your score on its own. Provided you do not have negative information pulling it down. This tip is for those who are building credit with no negatives and even if you have negative items it will help but will not be as effective.

When you pay your bills, pay a little extra, not much but at least a few dollars more than the minimum payment.

Another tip is to open a secured card at your bank, be sure to ask if they report to all three credit bureaus. If not, no problem keep reading and we got you.

With that said this is our top five picks to build a credit ready file for under $500

Open an account with Kikoff this is one of the easiest primary accounts you will ever open and its free. We are still doing research on the company to see how well it performs. But for a free account that reports to your credit who can argue that. Click the link below and follow the steps, its literally that simple, follow the steps they are very thorough, make your first payment of $1 and you are on your way to building positive payment history.

>>> Start Today <<<

 

Now use your own money $200 to fund your deposit to open a secure card and as a result there are no strict credit requirements. Please note there will be a credit check as part of the card's underwriting process.

You may not be approved for the card if you have an active bankruptcy in the courts.

In very rare situations the issuing Bank may request a copy of your Driver’s License to verify your identity.

Reports to All 3 Bureaus

No Credit Score Approval

Reports 6 times a month

Receive your secured credit card in as little as 2 weeks and quickly

start building positive credit history that will improve your credit score!

>>> Start Today <<<

Next i suggest opening one of everyone's favorite, Cap One secure card. Cap One reports to all three credit bureaus, looks great on your file, and better than applying for another retail card in our opinion that you have to purchase something just to build credit, (that's on the next step) you make the $49 minimum deposit, receive a $200 credit line, you still have access to your money (so you really don't spend anything just your deposit) and in 6 months of seasoning go back to Cap One for a unsecured card. If you made your payments on time and did not max out your card your chances of approval are very high. Remember to keep your spending under 30% (we suggest under 10%).

>>> CAP ONE <<<

 

Now you want to open ONE OF EACH of our favorite cards both giving 5k guaranteed. In rear situations people are denied so if you have a bankruptcy not yet discharge or child support reflecting late on your file clear that off your credit file first and have ID just encase they ask. If you need assistance with credit repair RICHCREDIT CLUB can help you.

Both will run you about $200 each, there is no need to spend any more than that. That is the minimum requirements to receive the full 5k from each company. Both require a $100 signup fee and you must spend $100 with their online store to qualify and get the positive payment history. Both report to all three major credit bureaus. 

>>> MJC <<<   >>> NCD <<<

 

How about that, If you follow the steps above you will build a positive profile and you did not have to purchase expensive authorized users that fall off in 60 days and did i mention that you did it for under $500 bucks. Now you know why we advise to do your secure cards first, use your secure cards to buy your retail tradelines, result is, you built your credit on a budget and if you can’t afford to pay up your secure cards by the payment date that's fine, "Hey it happens" pay back the minimum over the next 6 months, your scores bounce back, and now you’re ready for funding.

We hope this tip worked out for you. If you like what you read feel free to leave us a like, please share, comment, and subscribe so you don't miss any new juicy credit game we will share.