IMPORTANT
Your score may temporarily dip once you are APPROVED due to the inquiry; however, the effect should fade after 2–3 weeks. After that, your score should ramp up. Once you get your cards, use them responsibly, and make on-time payments. Make sure you keep utilization at 4% when you apply for larger credit cards later. Also, you must REMOVE any credit freezes, locks, or fraud alerts from your report in order for the tradelines to post. Click HERE for more details.
INSTALLMENT ACCOUNTS (CREDIT BUILDER LOAN)
In order to MAXIMIZE your credit profile, make sure you have 3 Installment Loans in YOUR name showing on your credit report. These include a car loan, mortgage, rent reporting and PERSONAL loans (which include credit builder loans).
**Choose no more than TWO of the accounts below every 6 months. Also for best results, choose a 24 month term payback**
How Does The Credit Builder Installment Loan Process Work? - One you apply, all loan proceeds will be placed in your Share Savings Account and pledged as collateral until the loan is repaid. You make monthly payments into the account and then get the money back at the end of the term.
IMPORTANT - It is Important To Pull your CheckSystems Report FIRST before applying for ANY installment loans EXCEPT option 1 & 2
If You Owe A Bank Money, You Must Pay Off The Balance Directly With The CREDITOR (BANK) and Ask Them To Remove You From CheckSystems BEFORE you apply.
