Page 44 - Winning The Credit Game Bundle (CK Patrick)

32 THE CREDIT GAME

in the last chapter, some credit cards and loans offer excellent terms
such that you lose nothing by using them. Others are downright
predatory, with interest rates and enforcement terms that can easily
harm your credit in the long run.
So how do you find a really good “team” to play for if you don’t
already have a lot of credit history to prove you’re a good player? The
good news is, there are loans and credit cards created specifically to
help new players like yourself. Here are some of the best options.
To build credit history fast, you’ll want to start playing for 3-5
different “teams” ASAP. This allows you to “win” 3-5 games each
month, which shows banks and credit card companies that you’re
good at repaying the money you borrow on time.
We’ll spend the rest of this chapter talking about my three favorite
“teams” for new players to start with. If you do all three, you’ll start
building credit fast while paying little to no interest and with no risk of
losing your assets.

RENTREPORTERS.COM

There’s a good chance you’re already paying rent to a landlord. It
may surprise you to learn that these payments are not reported to
credit bureaus. This can be a good thing or a bad thing, depending
on your situation: if you struggle to pay rent on time, that won’t
harm your credit score. But it also means that all your on-time
payments don’t help your credit score. Unless you use RentRe-
porters.com
This website allows you to sign up to have your monthly on-time
rent payments reported as “wins” to the credit bureaus. If you are
making rent payments on time and think you will be able to keep
doing so for at least the next year, this is an excellent tool because it
builds credit history without adding any new bills at all to your life.
You simply get credit for the bills you’re already paying.
If you don’t pay rent because you own your home and you have a
mortgage, good news: your mortgage payments are already being
reported as “wins” to credit bureaus because they technically count as