E&L Legacy Group

Build Your Credit So You Can Use It to Reach Your Goals

Building positive credit is an important part of your progress. Please take credit building seriously so you can position your credit to become approval-ready. Watch these three videos in order and follow the steps below.

Understand Your Credit Score

Learn about the five parts that make up your credit score and how your habits can affect them.

Tip: turn your phone sideways for a bigger picture.

Set Up Your Payment Reminders Your two key dates, your action plan, and calendar reminders
Statement closing date
Important: This is the date your balance gets reported to the credit bureaus. Don’t wait to pay it on your due date, because you could be leaving points on the table, especially if your credit limits are low.
Payment due date
When your payment must be received.

Your action plan:

  • Turn on autopay for the minimum payment on every card as a backup. Keep enough money in your bank account.
  • 3 days before your statement closes: Pay your balance down to 3%–9% of your credit limit. With a $1,000 limit, that’s $30–$90. Allow time for your payment to post.
  • 3 days after it closes: Pay the rest in full. Always pay by your due date, even if it comes sooner.

Never miss your due date. You don’t need to pay interest to build credit.

Add Reminders to Your Calendar

A nickname only. Do not enter your card number.

Add the reminders to your calendar and check that alerts are turned on. Your calendar will remind you each month—even when this website is closed. Update your reminders if your card dates change.

What you type stays on your device and is not sent to E&L. No login needed. Do not enter card numbers, bank information, or passwords.

Add Positive Accounts

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Credit Builder Accounts, Rent & Utilities, and Credit Cards

Please review all accounts below! The first 2 tabs are a no-brainer. Please take action!

Credit Builder Accounts

SELF Credit Builder Account

SELF is a credit-building installment account. Review the $25 monthly plan if available, along with its payment schedule, interest, and fees. Set up automatic payments and keep enough money in your bank account to cover each payment. At the end of the term, you receive the savings minus interest and applicable fees. Eligibility for the SELF Visa® Credit Card depends on meeting SELF’s requirements.

SELF

CreditStrong Account

CreditStrong offers credit-building installment accounts with different plans. Review the monthly payment, term, and total cost before choosing a plan.

CreditStrong

Kikoff Credit Account

Kikoff offers credit-building accounts. Review the current plan price, bureau reporting, and payment requirements before signing up.

Kikoff

Rent & Utilities

See whether your eligible rent payments can be added to your credit reports.

Add Your Rent

Credit Cards

Capital One Secured

Checking preapproval: Capital One says this is a soft inquiry that doesn’t affect your credit score.

Accepting an offer: moving forward with the application triggers a hard inquiry, which may affect your score.

Capital One

Discover it® Secured

Checking preapproval: Discover says there is no hard inquiry to see if you’re preapproved.

Submitting an application: this results in a hard inquiry, which may affect your score.

Discover

OpenSky® Secured Visa

OpenSky says there is no credit check to apply. This button goes straight to the application, and a refundable security deposit is required.

OpenSky

First Progress Secured Mastercard

First Progress says no minimum credit history or credit score is required and that it may pull a soft inquiry, which does not affect your score. A security deposit is required.

First Progress

U.S. Bank Secured Visa

U.S. Bank’s page for this card doesn’t list a preapproval check, so treat this as a full application. Ask U.S. Bank whether applying involves a hard inquiry. A security deposit is required.

U.S. Bank

Mission Lane

Checking eligibility: Mission Lane says you can see if you’ll be approved with no impact to your credit score.

Accepting an offer: this is a separate step. Review what it does to your credit before you accept.

Mission Lane

Apple Card

Checking your offer: Apple says there is no impact to your credit score until you accept your offer.

Accepting your offer: a hard inquiry is made, which may affect your score.

Apple Card

Preapproval does not guarantee approval. Review the issuer’s terms before applying.

The Sunday Rule

How to get out of low credit limit jail.

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Now, this is the secret sauce The way I personally build my credit

One of the best ways—if not the best way—to boost your score is by increasing your credit card limits. I’m telling you, this is the secret sauce. Use the Sunday Rule on one credit card, or a few, and it could really help you boost your score.

Once you’re approved

  • Open up to 2 new credit cards for now.
  • Stop applying for more cards once you’re approved for 2.

If you’re only approved for 1, that’s perfectly fine too.

The goal is to have between 5 and 7 credit cards in good standing.

No more than 4 new cards per year.

How to use them

  • Put all of your bills on one card, or on 2 cards if your bills add up to more than one card’s limit.
  • Pay the balance in full every Sunday. Watch the Sunday Rule video above.
  • This is for building credit, not borrowing money.
  • Continue this for 4 months, then call the credit card company and ask for a limit increase.
  • Repeat these steps with another new card or one you already have.

Get Your Credit File Home Ready

Buying a home takes more than disputing negative items.

Your credit score is only part of the picture. Lenders also review your payment history, credit card balances, income, and monthly debt payments.

Next step: calculate your DTI

Tap Here to Calculate My DTI

While we work on your disputes, you can take steps toward home readiness:

  • Build positive credit history

    Follow the credit-building steps above and pay your accounts on time.

  • Keep credit card balances low

    Use your cards responsibly and avoid taking on debt you cannot afford.

  • Understand your DTI

    Your debt-to-income ratio compares your monthly debt payments with your income before taxes. It helps lenders evaluate your ability to afford a mortgage.

Planning to apply for a mortgage soon? Speak with your lender before opening new accounts or requesting credit limit increases.

Every lender has different requirements. Completing these steps does not guarantee mortgage approval.