Need help starting or rebuilding credit?

In my years of experience in this business, I've had plenty of clients come to me and apply for a mortgage to buy a home.  When someone applies, we look for the Four C's.

  • Capacity (Income)

  • Capital (Savings)

  • Collateral (Property/Appraisal)

    And last but not least...

  • Character

    This is another word we use for "credit history".  This is a hurdle that some people haven't jumped yet, especially at a young age.  Or, if you're like a lot of people, you've had that one or two instances that have hurt your credit history and you're trying to re-establish a good credit history.

    One of the easiest ways to get started is to open a secured credit card.  You are guaranteed approval, and they report the history to all three credit bureaus (which is important).  You essentially deposit money, and the amount of the deposit determines your credit limit.  I suggest at least $500 if possible, but $300 at a minimum.  Once you get the card, you may or may not be charged an annual fee up front, which is ok.  And don't be too concerned about the interest rate, because the idea is to not carry much of a balance.  The idea is to leave a balance of about $10 on the card each month, let that report to the credit bureaus (typically when your statement closes each month), and then pay off that balance, and then go charge another $10 worth of goods again and repeat the process. 

    When you pay off the balance each month when the statement arrives, you essentially pay no interest.  Do this for 2-3 months and you'll typically see an improvement in your scores, OR you'll get a credit score for the first time if you're just starting out!

Below is an example of a secured credit card that I've heard great things about. They report to all three credit bureaus and you can get your card FAST!

Apply Now for an Open Sky Card

If you're needing to check your credit report, here is just one great place to do so.  You can also go to to check your report.