If you have little to no credit, or you're rebuilding after financial setbacks, you don’t need to wait years to get results. You just need the right strategy and tools to build new, positive credit the right way.

In this lecture, you’ll learn:

  • How to build new credit even if you’ve been denied in the past

  • Which accounts help build credit without high fees or risk

  • How to use these accounts to maximize your score, not just your spending

3 Rules To Building New Credit Responsibly

  • Start small — One or two new accounts is enough

  • Use them wisely — Never carry a high balance or miss a payment

  • Give it time — Credit building is a long game, not an overnight trick

Best Tools To Build New Credit

Secured Credit Cards

  • Backed by a refundable deposit (usually $200–$500)

  • Reports just like a regular credit card

  • Must be paid on time and kept under 10% utilization

Make one small purchase a month (like gas or Netflix) and pay it off in full.

Credit Builder Loans

  • You “borrow” from yourself — money is held in an account and released when paid off

  • Helps build installment history

  • Reports monthly payments to credit bureaus

  • Available at many credit unions and fintech apps

Great for showing responsibility without risking new debt.

Retail or Store Credit Cards

  • Easier to get approved for

  • Often low limits and high APR — so use sparingly and pay off fast

  • Helps with utilization and adding a tradeline

Use for one recurring expense and automate payments.

Secured Personal Loans

  • Offered through some banks or fintech platforms

  • Not ideal for everyone — but can help if you need a mix of credit types

  • Ensure monthly payments are manageable

Rent Reporting Services

  • Services like RentTrack, BoomPay, or Experian RentBureau can report your on-time rent payments

  • Helps establish payment history without new credit or loans

  • Not all scores include rent, but many VantageScores do


Avoid These When Building New Credit

  • High-fee “credit repair cards” that charge monthly membership

  • “No credit check” loans with sky-high interest

  • Applying for 3–4 cards at once — space them out by 3–6 months

  • Using the new credit for unnecessary spending

CREDIT BUILDER ACCOUNT LIST

Secured Credit Cards

(CLICK HERE)

Credit Builder Loans

(CLICK HERE)

Secured Personal Loans

(CLICK HERE)