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If credit is new to you, it may be difficult to find the most cost effective approach to building a strong credit rating. The credit crisis in our country and around the world has made it harder than ever before to gain access to credit.
There is a solution. The Credilife® Credit Builder Program™ is all you need to establish a credit profile with the credit agencies and begin building for your future today.
Up until now the method that most people used was secured credit cards. The problem with this method is that the reporting benefits of a secured credit card are limited. Think about it. If you obtain a secured line of credit, there is no risk to the creditor. You give them the cash and they give you “Credit” in that exact same amount. Without the element of risk, which is what credit scores are supposed to predict, there is less potential for impact on your credit profile.
The following chart shows the difference for potential credit score improvement between a Secured Credit Card and the Credit Builder Program™, for an individual with no existing credit profile.
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*Actual results may vary. We do not offer any guaranty of results. Many factors are attributed to your credit score and may affect your actual credit score. This chart indicates a potential score range and is based on an individual with no prior credit, on time payments for a 12 month period, and no new derogatory credit. |
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