Step 2: Establish a second type of revolving debt.

This step assumes you have followed the instructions from Step 1. The focus of this step is to establish various types of revolving debt. The various types of debt, along with a good payment history typically equate to an overall better credit score.

An “Installment Contract” or a new type of “Revolving Unsecured Contract” would be an excellent addition.

This company does this by selling you a PC, TV or LapTop – thus a guaranteed installment contract or revolving contract. At the same, you get to purchase a pretty useful item.

Some of their FAQ’s below, explain the process..

What credit bureaus do you report to?

We currently report to all three major credit bureaus Equifax, Experian, and TransUnion.

Once the consumer signs up how long will it take to appear on the credit report?

Generally, if the consumer signs their original contract and mails it back to the company before the last week in the calendar month the history will report within a few weeks of the following month.

Does the customer have to purchase anything to have this account report?

Yes. To create an account this company it is required that the consumer select a product from our online store before an application can be completed.

Does this company charge any setup fees or activation fees?

No, we do not charge any setup or activation fees to consumers.

Does this company charge any monthly fees for this account?

No, just monthly payments for the product’s financed.

Does this report as an “Installment Contract” or a “Revolving Unsecured Contract”?

By default, all contracts are “Revolving Unsecured Contracts”. If requested the contract can be drawn up as a (12) Twelve-month installment contract.

Can this report negative credit if the client misses a payment?

Absolutely, the client must abide by all terms in their agreement and on-time payments are 100% required.

Other retailers would be places like Sears or Macy’s or even gas or automotive service card. However, keep in mind that these cards typically have high-interest rates, so be very diligent about paying on time and remember the goal is to build credit, so this should only be a temporary phase.

Once you have done this and you have paid on time for least 3 to 6 months, then you would want to proceed to the next step

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