Bulletproof Credit System
by Robbie JenkinsBulletproof Credit System
People will tell you that credit cards are bad and you do not need to have credit to survive. The truth is, credit is bad if you do not know what you're doing and you abuse it. Credit can actually save you thousands of dollars a year! Our opinion is that credit can be useful in times of need and it can save you a ton of money a year if you are disciplined and use it right. Credit is a tool that can also make you financially independent and give you peace of mind to not have to borrow money from loved ones when tough times arise or when you're investing in you're future. We wanted to help you along your credit building journey by giving you some helpful tips to start building your credit today. Please keep in mind that this is not professional advice and only ways we have helped build our credit over the years.
Rules
- Pay your credit card in full every month - If you can't pay it in full that month, don't buy it.
- Only apply for a loan or credit card that you are going to need or use - Don't ever let someone run your credit to see if you qualify for a loan. They will say it doesn't affect your credit score, but it actually does.
- Don't cancel a credit card - Cut up your cards before you cancel them. If you cancel your credit card it will affect your average credit age and decrease your score.
- Pay everything before the due date or on time - Set up autopay on all your accounts.
Step 1 - Getting Started
- Open a credit card that works for you - There are a ton of credit cards out there and your current bank may not offer the best credit card for you. Check out NerdWallet, CompareCards, or Credit Karma to find the best card for your current situation.
Step 2 - Implementation
Once your credit card is open set up the following to make sure you are on top of your credit!
- Text message notifications - Set up text message notifications so your bank notifies you every time your card is charged no matter the amount.
- Automatic payments in full - Set up automatic payments so that your credit card gets paid in full every month.
- Write notes on the back of the card - Ex. Write down the 0% interest period, cashback %, type of purchases, etc. I've never had someone require a signature, they typically ask for an ID to approve the card is yours.
- Take a photo of the front and back of the card - Save an image of the front and back of each card in a safe place. Just in case you lose your card you will now have a backup and the proper contact info to cancel your card.
Step 3 - Track & Build
- Set up credit monitoring - Set up FREE accounts at Credit Karma and Experian to monitor your credit scores with all 3 credit bureaus. You don't need to pay for these services!
- Watch your credit soar!
Other Articles to Read!
Below are some other article recommendations we have written that might interest you. Any of these articles will be a great start to becoming unstoppable in your life. Just pick one and start reading! :)
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Thanks For Reading!
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This article is so helpful! Thank you so much for the tips and making credit cards not seem as scary.