Build your credit score easily

Building your credit usually takes time. that´s a fact.
Sometimes even years.  There is not a quick fix for credit building.  The Big 3 Credit Bureau’s have made it this way for many reasons.
To show that you are a reliable person who pays your bills on time takes many months of on time payments, credit management, different types of credit accounts, and keeping your debt ratio low.  By doing these things, your credit score will go up, over a period of time.  The longer the time, the stronger your credit score will be.
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Unfortunately, you only have a few options to help with this.
One of your options is a pre-paid credit card.  You will  have to a check for $250 to $500, which the bank deposits in a bank account for you that goes against the card usage.  This way the bank is covered if you default on payments.
After a year of you using the card, and making on-time monthly payments, they will increase your limit on the card without you having to send them more money.
The Cons :
You will have to say goodbye to $500 for a few years to come.  Also, raising your limit on the card will take a long time, usually longer than what it would have taken you for a normal credit card increase. Another disadvantage to these cards is that a lot of companies know that they are prepaid credit cards, and you will not be allowed to use them.  Example is Enterprise Leasing will not allow you to use this type of card for car rentals.

The new option for building your credit easily

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The new option is that the Big 3 Credit Bureau’s are now allowing you to report your on-time rent payments to your credit report.  This option, according to Transunions statistics has the biggest impact on your credit score, for the least amount of money.
Since this is a new opportunity, they are allowing you to report back 24 months of Rental history.  Rental Credit Reporting is one of only a few companies that have been credentialed to report your Rent payments to Transunion.
They are also the cheapest company doing this.  For only $7.95 a month for ongoing reporting, and $5 a month for each month that you want to report back ( up to 24 months ) that can help you get the credit that renters deserve.  By going back 24 months this will help with your credit score as previously discussed.  It will give you a different kind of credit that you’re managing, it will give you history of paying your bills on time – actually 2 years of history, and it will give you a $0 monthly balance due.   All of this factors into the bureau’s scoring method, which is why they have seen close to a 50 point increase in credit scores.  They have seen an increase in Credit scores as high as 118.!
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