Credit Reboot Challenge Resources

How to use these Resources

(All links are clickable )

GET ALL 3 OF YOUR CREDIT REPORTS AND SCORES 

$24.95  Per Month | Make sure you see "Clear Cents Credit Repair" when you click on "Transunion" to ensure you receive the correct reports

We have created this challenge as a resource to help you build and or establish credit  with just a few simple easy to follow Steps.

What many people don't know is that your credit score is broken up into 5 major components That we like to call The Genetics Of Credit . 

Let me simplify it for you:

 

35% Of Your Credit Score is Paying Your Bills On Time

30% Of Your Credit Score is Your Credit Card Utilization

15% Of Your Credit Score is How Long You Had Credit

10% Of Your Credit Score is Types of Credit

10% Of Your Credit Score is Inquiries

In this challenge we will  focus on the two biggest factors of your score. Credit history and credit utilization which makes up 65% of your credit score.

so Now, it's simple to see what we need to do. We need to add some positive credit history with large credit limits!

To achieve the 165 points available via the credit utilization factor, you will need to build a positive history of revolving credit, so here's the plan

Goal #1

 get both Merchant cards first Because they Can provide you with the most significant credit increase.

(All links are clickable )

Disclaimer: You will NOT be approved if you have an open bankruptcy

These Merchant cards are similar to secured cards but they will give you a much larger limit and will help you increase your score much faster. The merchant cards work like this. You will pay a $100 sign up fee and then make a $100 purchase and then you will get a $5,000 limit. So, for $200 you get a revolving credit account of $5,000.

#1 My Jewelers Club MERCHANT CARD

You will be given a 5k credit limit with a small purchase of $100 . You will pay $99 + half of your cart balance. Once the statement comes in, pay it off in full and never use it again! 

Reports to all (3) bureaus as "Majr Financial" Hard pull from experian

#2 New Coast Direct MERCHANT CARD

You will be given a 5k credit limit with a small purchase of $100.You will pay $95 + half of your cart balance. Once the statement comes in, pay it off in full and never use it again! 

reports to (2)/(3) credit bureaus As "carmel financial" hard pull from transunion

Now keep in mind, one of the key components of your credit score is utilization. So, If you want to increase your credit score you need to increase your credit limit vs your utilization . 

Increased limits + Lower Utilization = Higher scores.

Goal #2

 obtain (2-3) secured credit cards  to build a positive history of revolving credit

(All links are clickable )

Disclaimer: You will NOT be approved if you have an open bankruptcy

Put a good deposit on each card. Now, you can put $200 at the minimum on each, however, I do not suggest that, I recommend putting down a minimum of $500 on each card, if possible. If $500 on each is too steep at the moment you can put the $200 and increase the limits on most of them at a later time.

#1 First Progress Mastercard SECURED CARD

Get two of these cards to build credit fast!!!!

(No hard inquiries )

#2 Open Sky SECURED CARD

Get one of these cards to continue building credit $200 minimum deposit (No hard inquiries )

#3 Discover It SECURED CARD

 this card may automatically convert to unsecured within 8 months

(hard inquiry on all (3) credit bureaus )

Goal #3

The set up : give your credit cards a job

(automate your success and watch your score increase)

For every card you should only spend 10% to 20% of your limit. For example if you have a $200 limit you should only spend $20-$40.

Card #1 I would suggest using this card for small purchases like coffee or snacks. aim to pay-off 5-7 days before the due date.

 

 

Card #2 use for subscriptions, HULU or Netflix type of stuff onto this card and Set up autopay to pay the balance every month.

 

Card #3 I would suggest using this card for your gym membership or any other low cost monthly expenseSet up autopay to pay the balance every month.

Okay now let's review.

 

goal# 1: The goal is to get both Merchant cards first Because they will provide you with the most significant credit increase.

 

goal# 2: Next start putting deposits on the recommended secured cards.

 

goal# 3: automate your success & Watch your score go up.

!!!!Bonus!!!!

(All links are clickable )

Disclaimer: You will NOT be approved if you have an open bankruptcy

Self. 

offer consumers a chance to build credit — or restore damaged credit  without requiring money upfront.

UNSECURED VISA® Credit Card

Reports monthly to all three major credit reporting agencies 

Perfect credit not required for approval; they may approve you when others won’t     

UNSECURED Mastercard Credit Card

Reports monthly to all three major credit reporting agencies

Get at least a $500 credit limit

IMPORTANT DISCLAIMER

Your results in the Credit Reboot Challenge presented by Clear Cents Credit Repair is solely your responsibility. It is extremely important to assess, analyze and make financial credit decisions based off of your own research and personal circumstances. If you find it necessary, Clear Cents Credit Repair recommends that you schedule a free consultation with a Board Certified Credit Partner before implementing any information that is accessible to you in this challenge.

Any reference to credit scores is not in connection in no way shape or form a direct guarantee that your score will increase, as no credit score increase guarantee may be provided from this educational content. 

Clear Cents Credit Repair assumes no responsibility or liability for any errors or omissions in the content provided in this challenge. The content shared in this challenge via email, LIVES, presentation or otherwise is provided on an "as is" basis with no guarantee of completeness, accuracy, usefulness or timeliness. Again, please assess your own circumstance to determine if the resources are right for you.

Disclosure: Some of the links are affiliate links and I will earn a commission. I have provided these companies and their products because of their quality and not for  the commission I will receive. If you decide to use them great but the decision to purchase is completely up to you.