Lesson Materials

Downloads:

About This Lesson

In the past 13 years I have literally checked 10’s of thousands of credit reports and I am starting to see a huge trend that drives scores way down.

That trend is the lack of revolving credit. What do I mean buy revolving credit. I mean credit cards.

​

Now before you freak out I am absolutely not advocating the use of credit to get you into debt. But it is imperative to get a credit score up. Now here is the cool part. The amount of the card is irrelevant. So you can open and pay a $200 credit card on time and It will build your credit as fast as a $2000 one.

The secret is the balance you leave on a few small credit cards. Start with one if that is all you can afford. You want to never go more than 10% or under 1%.

So I want you to:

Actions:

• Watch the Video to Learn Why You Need Credit
• Open Up One of the Credit Cards in the Lesson
• When The Card Comes in the Mail Take and Charge 10% of the Limit on it.
• If the Limit is $200 keep between 1 dollar and 20 dollars on it every month.
• Let Me Know As Soon as You Have Charged on the Card

Great Job   40%

Obtain a credit card that reports to all three credit bureaus. Equifax, Transunion, and Experian. Below are several:

If you don’t like these you can use any secured credit card but make sure:

1. They are made to establish credit and they report to all three bureaus

2. The will report fast and every month

VERY IMPORTANT!!!

You are not doing this to take out debt. It’s strategic. Only charge 10% of whatever limit they give you and never go over that. So if limit is $400 charge only $40. Also don’t let it go to 0 balance. Keep a small balance revolving on it. Never Max it.

You are paying high interest and you do not want to build a habit of having credit cards.

Credit cards are for building your credit only. Not for building debt.

Email me back as soon as you have set one up and when it comes in the mail.

Secured Credit Cards

Secured credit cards are great for establishing or rebuilding your credit history. Unlike prepaid cards, secured credit cards give you a credit line, and your payment activity will be reported to the major consumer reporting agencies. Getting a secured card is easy! Funds you deposit at the bank are used as collateral for the credit card. You use the card like any credit card. You can rebuild your credit history by making on time monthly payments to all of your creditors and by keeping your balances low relative to the credit limit.

First Progress Platinum Select MasterCard® Secured Credit Card

• Nationwide Program though not yet available in NY, IA, AR, or WI

• Receive Your Card More Quickly with New Expedited Processing Option

• No Credit History or Minimum Credit Score Required for Approval

• Good for Car Rental, Hotels; Anywhere Credit Cards are Accepted!

• Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History

• Credit Line Secured by Your Fully-Refundable Deposit of $300 — $2,000 Submitted with Application

• Just Pay Off Your Balance and Receive Your Deposit Back at Any Time

• 24/7 Online Access to Your Account

Purchases Balance Transfers Regular APR Annual Fee Credit Needed

Intro APR Intro Period Intro APR Intro Period

N/A N/A N/A N/A 14.99% (Variable) $39 Bad Credit

The Secured Visa® from Merrick Bank

• Get your FICO® Score every month at no charge.

• Build your credit – Performance is reported to all three major credit bureaus, unlike a prepaid card.

• Credit line increases – automatic unsecured credit line increase reviews with no additional security deposit or fees.

• No Processing or application fees.

• You determine your credit line – up to $3,000

• Easy funding options – We have several convenient options to easily submit your security deposits

• Worldwide acceptance – Use it anywhere Visa is accepted.

• Easy application – Click “Apply Here” to apply online today!

Purchases Balance Transfers Regular APR Annual Fee Credit Needed

Intro APR Intro Period Intro APR Intro Period

N/A N/A N/A N/A 17.45% (Variable) $36 Bad Credit

First Progress Platinum Elite MasterCard® Secured Credit Card

• Nationwide Program though not yet available in NY, IA, AR, or WI

• Receive Your Card More Quickly with New Expedited Processing Option

• No Credit History or Minimum Credit Score Required for Approval

• Good for Car Rental, Hotels; Anywhere Credit Cards are Accepted!

• Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History

• Credit Line Secured by Your Fully-Refundable Deposit of $300 — $2,000 Submitted with Application

• Just Pay Off Your Balance and Receive Your Deposit Back at Any Time

• 24/7 Online Access to Your Account

Purchases Balance Transfers Regular APR Annual Fee Credit Needed

Intro APR Intro Period Intro APR Intro Period

N/A N/A N/A N/A 19.99% (Variable) $29 Bad Credit

USAA Secured Platinum American Express Card

• It’s a real credit card – not a prepaid or debit card, that helps you build or improve your credit score.

• When you apply – you’ll also be opening a USAA 2-year Certificate of Deposit (CD), an interest-earning deposit account that has a two-year term and a $250-minimum initial deposit.

• Your CD is a security deposit – the money you put in upfront, from $250 to $5,000, is the card’s credit limit.

• Earn interest on your CD – your deposit is guaranteed to grow. Plus the money is yours to keep as long as you don’t default on your payments.

• Start building your credit – opening a CD lets you get a credit card even if you don’t have a credit history or have bad credit.

• Before starting your application, USAA will ask you a few questions to establish your online access and eligibility with USAA.

• If you are not eligible, USAA credit cards and other products may still be available.

Purchases Balance Transfers Regular APR Annual Fee Credit Needed

Intro APR Intro Period Intro APR Intro Period

N/A N/A N/A N/A 9.90% (Variable) $35 Bad Credit

USAA Secured Platinum American Express Card

• It’s a real credit card – not a prepaid or debit card, that helps you build or improve your credit score.

• When you apply – you’ll also be opening a USAA 2-year Certificate of Deposit (CD), an interest-earning deposit account that has a two-year term and a $250-minimum initial deposit.

• Your CD is a security deposit – the money you put in upfront, from $250 to $5,000, is the card’s credit limit.

• Earn interest on your CD – your deposit is guaranteed to grow. Plus the money is yours to keep as long as you don’t default on your payments.

• Start building your credit – opening a CD lets you get a credit card even if you don’t have a credit history or have bad credit.

• Before starting your application, USAA will ask you a few questions to establish your online access and eligibility with USAA.

• If you are not eligible, USAA credit cards and other products may still be available.