So, you're on the hunt for your dream home, but your credit score is in need of a little TLC. Building your credit doesn't always require opening credit cards. Here are some nifty tricks to amp up your credit score without applying for new plastic.
Rent Reporting: Who knew that paying your rent on time could actually help you build credit? Rent reporting services work alongside work your landlord to report your timely rental payments to credit bureaus. This way, your responsible renting habits have the chance to shine on your credit report.
Experian Boost: By linking your utility, cell phone, internet, and even eligible streaming service accounts to Experian Boost, your payment history for these bills can be included in your credit file. Finally, those pesky monthly bills can work in your favor!
Authorized User Status: Have a friend or family member with impeccable credit? Ask if they'll add you as an authorized user to their credit card. As an authorized user, you'll inherit their credit history, making it rain positivity on your own credit report. Just be sure your creditworthy benefactor continues to handle their finances responsibly; you don't want to be caught in a credit storm.
Secured Credit Card: While it's not entirely avoiding a credit card, a secured credit card can be a good option for building credit. A secured credit card is like a regular credit card, except you'll need to make a deposit as collateral, which then becomes your credit limit. By using this card judiciously and making timely payments, you're on your way to establishing credit history without the temptation of going on a reckless spending spree.
With these clever credit-boosting methods, you can set sail on your homebuying journey armed with a solid credit score. Remember, building credit takes time and consistency. Be patient, pay your bills on time, and keep your credit utilization low. Before you know it, you'll be unlocking the door to your new home with confidence.
We've been helping customers afford the home of their dreams for many years and we love what we do.
Company NMLS: 1075801
43060 Running Deer Drive
Coarsegold, CA 93614
American Financial strives to ensure that its services are accessible to people with disabilities. American Financial has invested a significant amount of resources to help ensure that its website is made easier to use and more accessible for people with disabilities, with the strong belief that every person has the right to live with dignity, equality, comfort and independence.
American Financial makes available the UserWay Website Accessibility Widget that is powered by a dedicated accessibility server. The software allows www.americanfinancial1.com to improve its compliance with the Web Content Accessibility Guidelines (WCAG 2.1).
American Financial accessibility menu can be enabled by clicking the accessibility menu icon that appears on the corner on the page. After triggering the accessibility menu, please wait a moment for the accessibility menu to load in its entirety.
American Financial continues its efforts to constantly improve the accessibility of its site and services in the belief that it is our collective moral obligation to allow seamless, accessible and unhindered use also for those of us with disabilities.
Despite our efforts to make all pages and content on American Financial website fully accessible, some content may not have yet been fully adapted to the strictest accessibility standards. This may be a result of not having found or identified the most appropriate technological solution.
If you are experiencing difficulty with any content on American Financial website or require assistance with any part of our site, please contact us during normal business hours as detailed below and we will be happy to assist.
If you wish to report an accessibility issue, have any questions or need assistance, please contact us by sending an email to: email@example.com