So the Question Comes up…How do I Improve my Credit When I Keep Getting Denied?
Great question! It takes credit to get credit and it is also a “time” game. That means you need to get started right now building your credit so you can save more in the future and be in a better place when you are ready to make the larger purchases.
There are solutions and one of the best is to get a secured credit card. A secured credit card can help in building and rebuilding credit. With a secured card, your credit line is based on a security deposit rather than a credit score. A secured card is designed to report the new information in a credit file by reporting account activity to all three major credit bureaus.
Through Financial Education Services (www.CreditGalKim.com) you can apply for a secured card which is issued through MasterCard® by a bank that is a member FDIC.
Why Should I Apply?
- Fast Approvals!
- No Credit History or Minimum Credit Score Required for Approval
- Quick and Complete Online Application
- Full-Feature Platinum MasterCard® Secured Credit Card
- Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
- 24/7 Online Access to Your Account
- Nationwide Program – though not yet available in NY, IA, AR, or WI
Commonly Asked Questions?
You may be asking yourself, what is the difference between a secured card and prepaid or debit card programs?
Prepaid and debit cards are available to consumers with poor or inadequate credit scores, but these products generally do not offer credit and do not report to the major consumer credit bureaus. Some prepaid and debit card programs carry monthly membership fees or carry a charge for reloading funds to the card. A secured card is a real credit card that extends credit based on a security deposit provided by the cardholder rather than relying on the applicant’s credit history. Aside from the security deposit requirement, a secured card works just like any major (Visa®, MasterCard® or American Express®) bankcard. The cardholder can revolve a balance by paying only the minimum monthly payment, or avoid finance charges by paying the balance in full each month.
How do I provide my security deposit during the application process? The card is secured by a fully-refundable security deposit of $300 to $2,000, held in its own FDIC-insured bank account. The application includes a number of verification steps required by law, but the only credit requirement is to not have a pending bankruptcy that is still before the court. The refundable security deposit is provided by the applicant using an online debit card or checking account transfer at the end of the application and an Expedited Processing option is available for a small additional fee.
Who is this card designed to serve? The Secured Credit Card has been designed for customers who may have had credit issues in the past and need to re-build credit or who are just starting out and need to build new credit. We seek to serve the broadest possible set of applicants, especially individuals who are seeking to improve their credit going forward.
Does it say “Secured” on the card? No.
Can I apply over the web? Yes! This program is available to residents of a U.S. state; however, at present, it is not available in Arkansas, Iowa, New York, or Wisconsin.
I sent in an application. How long will it take to receive a response? Our goal is to process applications in three weeks or less. If it has been longer than 3 weeks, and you have received no response from us, please contact us. We can also offer expedited processing for a fee.
- Go to CreditGalKim.com and click on “Products”.
- Scroll down to the credit card icon and click on “+ Learn More”. Read through everything to feel secure and when you are ready, go back and click “+ Enroll Now”.
- You will see my name and agent number listed as well as my picture in the header. Once you click “Enroll Now”, you will be transferred to a secure site for the application.
I highly recommend that you also check out all that is available to you in our “FES Protection Plan” membership. There is no cancellation fee and your monthly pays for credit restoration, credit protection, credit education, LifeLock, FES Debt Zero and a host of additional services like preparing your POA’s, Wills & Trusts!
As always, if you have errors on your credit reports or items that do not belong to you and you are not having success getting them removed, contact me for help.
For questions or additional resources, please contact me at Info@CreditGal.CO. I am an independent agent for Financial Education Services. If you would like to learn more about building your own agency, please contact me directly. My phone number is on my website.