Managing a credit card is one way for you to build or rebuild your credit and improve your credit score. To help build good credit, use credit cards regularly and make all your payments on time. You’ll also want to keep an eye on what’s called credit utilization. Credit utilization is the percentage of your total credit you're using. In general, you should aim to keep your utilization percentage low (under 30%) by using a small portion of your card's credit limit.

 

Secured credit cards are often a great place to start. A refundable security deposit3 is required to open your account. The PREMIER Bankcard Secured Credit Card can give you the opportunity to start your journey to building or rebuilding your credit right now vs having to wait until you’re eligible for the unsecured.

PREMIER Bankcard, along with any other creditors you may have, reports your account activity to the major consumer reporting agencies —Experian, TransUnion, and Equifax. The agencies then use this information to create your credit reports, which is the basis of your credit score. Only FICO Scores are created by the Fair Isaac Corporation and are used by over 90% of top lenders when making lending decisions.

 

FICO Scores are often considered to be the industry standard for making accurate and fair decisions about creditworthiness. They help millions of people get the credit they need for a home, a new car, or a special purchase.