Page 59 - Credit Builidng Toolkit By Adrean Yancy jr 3

Credit Building Toolkit

Credit Building Tools

What are credit-building tools?
Tools that build your credit can be in either of the two categories: tools to help you
manage debt and tools to help you increase savings. For example, tools for

managing debt may include a budgeting app or an online bill pay service; either will
not add any points on their own because they are just used to make sure you're
always paying what you owe while still living within your means.

However, some tools allow individuals with no existing history of borrowing money
(no credit file) to apply for small loans even if they have bad or limited incomes—like
Lending Club and Prosper (P2P). These lenders provide financing based on the

information supplied by the borrower and will issue them a loan without checking
their income or credit status. What follows are the best credit building tools out you
can get.

Grow Credit

Grow credit is a nifty option for those who want credit card benefits without the
associated risks. The card requires no deposits, so there's no risk in giving it a try.
Grow credit also has some unconventional features, including paying bills for you
automatically and building credit with tiny limits.

56