Scott Storace - Branch Manager, 100 Pacifica Drive Ste. 140, Irvine CA 92618 NMLS #226339 949.973.0141

"From the minute you call me to the minute we close, I have your back. No hassles, no banker’s hours & quick response times." - Scott Storace

  • Home Loans up to $3,000,000
  • Interest Rate Float Down Option

Have Questions? Call 949.973.0141

Building Your Credit From the Ground Up

Building credit and what to do when you don’t have a credit score.

Building credit, increase your credit score

With a little time and effort, you can easily build your credit.

Having a strong credit score is a predominant factor in securing financing for your home purchase. So when you don’t have a score, is buying a home impossible? Not at all. It might take a bit longer but buying a home is still within your reach. First thing’s first, you will need to take a few steps to begin building credit for yourself.

Tip 1- Apply for a credit card.

More than likely, you get offers for new credit cards in the mail all the time. Do a little research on each offer. Be sure to double check that the interest rates aren’t too high and fill out the forms. Even if they offer you a low limit or an unappealing interest rate, it will still help you build credit, just be sure to pay them off every month.

Tip 2- Apply for a gas card or a retail card.

These vendors are less stringent than the big banks and will offer lines of credit, even if you have been turned down for a traditional credit card. These cards can also have low limits and high interest rates so be mindful about paying these off as well.

Tip 3- Apply for a secure line of credit from your bank. These secure lines of credit are secured with the cash in your accounts or an asset, typically a car. They are reported to the credit bureau the same way traditional credit is and will help build a credit score.

These steps will take a little time but will get you on a steady path to a solid credit score. Watch this short video for more info on building credit. 

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