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No Credit? Low Credit? You Have Options!

According to a recent Wall Street Journal article, 53 million Americans do not have credit scores. Having a limited credit score, or having no credit score at all can present obstacles to you when it comes to getting a loan from a financial institution. Thankfully, there are ways that you can build your credit and improve your financial health.


How Do I Build Credit?


1. Consider a Credit Card

Credit cards are a great way to build credit. Launch CU offers two credit card products: Visa Platinum and Visa Platinum Rewards. Both Launch CU credit cards have no application fee, no annual fee*, low cost payment protection, and low interest rates. Click here for additional disclosures, rates, and terms. For more information on Launch CU credit cards visit our website or apply online today!

How to Build Credit - Open a Credit Card
How to Build Credit - Small Loan with Monthly Payments

2. Take out a small loan and make timely payments.

This is a great way to help rebuild your credit, if you are confident that you can make the monthly payments on time. Launch CU Personal Loans have no application fee, low rates, simple interest, payroll deduction, low cost payment protection, and no prepayment penalties. For more information on personal loans visit our website, or apply online today!

3. Pay your bills on time.

This is the most important contributor to a good credit score. Delinquent payments and collections can have a major negative impact on a credit score, even if the debt you owe is a small amount. It is crucial that you make payments on time.


How to Build Credit - Pay Your Bills on Time
*APR= Annual Percentage Rate. Credit cards are based on credit approval. The rate you pay is based on credit history. Rate applies to new Visa Credit Cards or increased credit limits on existing cards. A foreign transaction fee of 1.00% of each multiple currency transaction is U.S. dollars, and a 0/80% of each single currency transaction is U.S. dollars will apply. One-time $5 membership fee and $25 minimum deposit required to open account for new members.
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