We have all heard about our credit scores. With a high score you find it easier to get credit at much lower rates. With a low score or no score it’s not easy to find someone to give you credit and those that do charge a much higher rate. So what can you do if you have no credit score or a low score? Will you always have trouble getting the credit you need? Not if you understand how to improve your credit score. That is why we designed our Credit Building Program. We will help you earn a higher credit score. It can be as easy as 1, 2, 3.

1. First….
You need to demonstrate that you have the ability to handle a basic credit tool, namely a checking account. With the Credit Builder Program we offer a free checking account with direct deposit, and a free debit card. Use this to pay your rent and utilities.

2. Second….
You need to establish that you can and will pay installment contracts on time. The Credit Builder Loan will allow you to choose a loan between $1,000 and $5,000. You will need at least 12 months of payment history to establish credit, so we will allow you to choose from 12 to 36 month repayment plans. How can you get a loan now when you have been turned down before? The Credit Builder Loan is a little different from your standard loans. It works like this: Choose your loan amount and those funds will be put in your Credit Builder Savings account to secure the loan. (After you have repaid the loan, the funds are yours to withdraw if you choose) This not only helps you build an important credit reference but also develops the strong savings we all need to cover those unforeseen expenses that come up from time to time.

You will receive interest on your Credit Builder Savings account and if you complete the program, we will give you an additional 1% completion bonus plus a discount of up to 1% on your next loan.

3. Third…
We all need to have a credit card. It allows us immediate access for credit to rent a car, take advantage of a sale, or other everyday needs. Your commitment to building or rebuilding your credit deserves to be acknowledged sooner than your credit score might reflect, so as a special feature you will be issued a USA One National Credit Union Visa Blue Card with a $500 credit line after just 90 days in the Credit Builder Program without an additional pledge.

Contact the loan department at USA One National Credit Union today to apply for or get more details on the Credit Builder Program or click here to apply online.