Module 6A: How To Build Credit History

The final step in the credit building process is to add good credit history to your report. As the negative credit history ages, it will count less against your score and the new good credit history will count more towards your score.

Become An Authorized User
Becoming an authorized user is an easy way to start building credit history. Ask a family member or friend who has a credit card with good credit history and low credit utilization to add you as an authorized user.

Credit Loan Builder Programs

Secure Credit Cards

  • Self Visa - no credit check, no deposit, must be enrolled in Self Lender Credit Loan Builder account for minimum of three months
  • Chime Secure - no credit check, no minimum security deposit, no annual fee, must have a Chime Spending account
  • Opensky - no credit check, $200 refundable security deposit, $35 annual fee
  • First Progress - no credit check, $200 refundable security deposit, $29 - $49 annual fee
  • Discover it - requires credit check, $200 refundable security deposit, no annual fee, convertible to unsecure card


Module 6B: The Proper Way To Apply For New Credit

When attempting to repair your credit, you should avoid opening too many credit lines at the same time, since such behavior could suggest you are in financial trouble and need significant access to lots of credit. FICO suggests that borrowers only take on additional credit when they must have it or when it makes sense financially.

This video will cover when it is appropriate for a individual to apply for credit and how to avoid losing points applying for credit that gets denied.

Module 6C: Soft Inquiries Versus Hard Inquiries

There are two kinds of inquiries that can occur on your credit report; hard inquiries and soft inquiries. While both types of credit inquiries enable a third party to view your credit report, only hard inquiries can negatively affect your credit score.

In this video, you will learn the difference between a soft inquiry and a hard inquiry and how it affects your overall credit score.


8:27 Minutes