Free credit rebuilding program

The goal of the program is to provide our members the tools, assistance, knowledge and resources to gain control over their personal finances. The members applying must be employed for a minimum of 1 year with the same employer. Call around to other banks and credit unions to compare your options. Meet with a couple of bankers to discuss your situation and get their recommendations.

Part of Strong Blocks month rent to own program is for families to live in the home they plan to buy as renter but with a right to purchase it at a fixed price. During the term, you work with Strong Blocks team and network to improve your credit and personal finances. Sometimes a credit builder program will be recommended. It differs from the typically unsecured types of credit cards that we are use to.

Instead of paying after you have spent the money, you provide the cash for your line of credit up front. This eliminates the risk to the lender and limits the possibility of you getting into debt. The activity on these cards is usually reported to the three major credit bureaus, but again double check with the credit card provider to be sure. To get the best use of building your credit score, after using the secure card for a purchase, pay the balance in full each month You can find secured credit cards at different financial institutions such as banks and credit unions, and through credit card companies.

But do your research and compare at least 3 cards as well as reading the fine print on the one you choose: the fees may vary drastically between cards!

Be patient and diligent, and sticking with it will be the most important factor in positively affecting your credit. Want to own a home but don't quite have the credit needed to qualify for a loan?

Strong Blocks operates a rent to own program that helps to put families into remodeled homes while they continue to work on their credit and personal finances. Credit is needed for a lot of things in life — from loans, to renting a place to live, to obtaining a job. And having a poor credit record can mean paying higher rates or receiving less favorable terms.

Our team will work with you to create a game plan that sets you up for success! A Dupaco credit and lending expert will analyze your current credit situation and future financial goals, and begin creating a strategy to help you move forward.

No credit history? Need to repair your credit? Our Credit Coach loan is specially designed to help you boost your credit. The Credit Coach loan is an important part of the program. The money you borrow is secured in your savings account for the term of the loan. Dupaco will help you set an affordable repayment plan that fits in your budget. Throughout the program, your personal Dupaco Credit Coach will work closely with you to help you stay on track. Kick off your financial game plan today.

Schedule a free, no-obligation Credit History Lesson by calling ,ext. Joel Mungongo turned to his bank for a loan and was turned away. He later went to Dupaco. Consider applying for a secured loan or secured credit card, to help rebuild your credit.

While Wells Fargo does not offer these products, some financial institutions may offer secured loan options or secured credit cards, which may be an alternative to help rebuild your credit history when used responsibly. These work like any other loan or credit card but require some form of collateral. Apply for a store or gas card, which may be easier to qualify for.

Applying with a cosigner or co-applicant may help you qualify or acquire better credit terms, but remember that your cosigner or co-applicant also takes full responsibility for payment. That means the credit history will be reflected on both of your credit reports. Be sure to use the card responsibly, maxing it out or making late payments can do more harm than good. Avoid pre-paid cards as a way to reestablish credit.

They simply let you make credit card-like transactions, like paying at the grocery check outs or at the gas station. Protect against fraud : Only apply for credit with established banks and credit card companies, not through online or social media ads. Be wary of companies offering to resolve your debt problems, especially for a fee. For more ways to help protect yourself, visit Fraud Prevention Tips.

Tip Remember to use your new accounts in moderation, make all payments on time, and keep your balances low. Top tips for improving your credit Improving your score takes perseverance, but it can pay off. Here are some key points to consider that may help to improve your credit score: Keep track of your progress.

As you make changes, it will take time for your score to adjust. Scores update on a monthly basis so be sure to track them regularly. Always pay bills on time. This means making at least your minimum payment each month, on or before your due date. Keep balances low. How much credit you have available is another important scoring factor, so keep balances as far below your credit limit as possible.

Keep unused accounts open. It may be a good idea to use them sparingly to keep them active. Be careful about opening new accounts. If you need a new credit account and can comfortably manage the additional payments, great. But avoid anything that might strain your budget. Diversify your debt. Creditors like to see a pattern of handling credit responsibly over time on a variety of account types, including both revolving credit and installment loans.

Improve your credit opportunities Explore strategies for managing your credit and debt.