In a world where the majority of people don’t even have a credit card, how do you become an asset to your own home?
Here are the basics of how to build your own credit card to get you started.
Make sure you have enough cash to last you until you can get a loan 2.
Choose a high-interest credit card 3.
Keep your credit score high 4.
Use a card with a variable rate 5.
Keep the balance low for a year 6.
Never spend more than the amount you can afford 7.
Don’t spend on things you can’t afford to lose 8.
If you’re in a bad credit situation, work out a way to make it better before applying for a credit line 9.
If your credit rating is at or above 50% and you’ve got enough cash in the bank, it’s a good idea to set up a card that’s low-cost.
This can help you reduce the cost of your loans and can make a huge difference to your credit scores.
Choose an asset-based credit card that gives you low-interest rate loans with low interest payments.
Use the low-fee credit cards that give you low interest rates and a lower annual fee.
Use your credit card for payments of no more than 15% of your disposable income.
This will mean your payments are capped at 10% of the disposable income you’ve been earning from work, self-employment or self-investment.
Apply for an asset card to take on a mortgage or a car loan.
Use an asset credit card with variable rates to pay back your mortgage or car loan at lower interest rates than you can earn from your work.
Use credit cards to borrow money from family and friends.
Donate your earnings to charity to help you save for your retirement.
Make a monthly contribution to a non-profit that helps low-income families.
Use any of the credit cards you like to pay for the basic necessities you need.
Get the lowest interest rates for your home.
Donates your earnings directly to charities to help pay for their programmes.
Donations are also used to help the environment and save on electricity.
Donation is one of the best ways to help someone who is facing an eviction or a flood.
Donating a small amount of your income to charity will help pay your mortgage and help you pay off your mortgage, too.
Get an online credit card or mobile application to get your credit report updated.
Get a credit union card to make your monthly payments on time.
Make payments with a credit or debit card from your bank account, or make payments through a mobile app.
Make your monthly contribution through a credit check.
Make contributions to your local council to help fund the services they offer.
Use online credit to get money from your own bank account.
Take out a loan for yourself, or get a credit in the form of a home loan.
Use another form of borrowing to pay a down payment on a house.
Use savings to pay down your mortgage.
Pay a deposit to pay off a home purchase.
Make monthly contributions to a charitable trust.
Donors can pay a portion of their income directly to the local council.
Donor payments are made in the local currency.
Give your donations to a charity that will benefit the people who need it most.
Make regular payments of any amount from your household income to a specific charity, or use a combination of income and donations to fund the same purpose.
Take a loan from your employer to pay your monthly rent.
Pay your mortgage directly to a lender or bank.
Get cash to pay the bills for a new home.
Apply to borrow from a nonbank lender.
Apply through a savings account.
Pay cash from your savings to a bank for a loan.
Use cash from the bank to pay rent on your home or pay your utility bills.
Use donations to pay an emergency deposit.
Make one payment every month.
Use charity funds to pay bills on your mortgage with interest.
Pay any outstanding bills through a charity.
Make recurring donations to charities.
Don a regular weekly donation from your salary to a local charity.
Use tax-free money from a credit unions account to pay any bills that you owe.
Apply online to get an application for a house loan.
Apply directly to get a mortgage.
Get your income from your job to pay interest on your loan.
Make periodic payments of your monthly income to the charity of your choice.
Make quarterly payments from your income.
Get help from a local council that can help pay off the mortgage