Rebuilding Credit: How to Get Started

If you are in a situation where you have a low credit score, or no credit score at all, you are not alone. Circumstances in life can lead to this very situation. But rest assured there is a path to rebuilding credt, and re-establishing your financial future. Metrum Community Credit Union partners with GreenPath Financial Wellness, and we are here to give you the tools you need even if you are starting from scratch. 

There is a path to rebuilding credit. Get started here!

Life Happens, You Can Rebuild

Take it from our experts, Amber Miller, Partner Experience Specialist, and Katie Wilson, Financial Wellness Expert, from GreenPath. There is a way forward when you need to rebuild your credit. In the helpful video, they walk you through some helpful steps to build new credit and rebuild when life throws you a credit curveball.

Some Video Highlights on Rebuilding Credit

When you are starting to work on rebuilding your credit, start by finding out your outstanding past due balances. Take the time to pay them off, and this action will pay off for you. Patience is key when starting from scratch. Once you achieve this you can look to credit building products:

  • Secured Credit Cards 

  • Credit Building Loans

Build Healthy Credit Habits While Rebuilding

Now that you are in the frame of mind to focus on your future credit, focus on healthy credit habits too! Here are some ideal practices that will help you along the way:

  1. Make payments on time every month. (This may come up again!) 
  2. Once you have credit cards, keep your balances low. Consider 30% of the max limit of your card as a healthy rule of thumb. 
  3. Do not apply for new credit unless you are in a situation that you really need it. (For example do not get a retail card strictly because there is a special offer.) 
  4. Do not ignore bills, even if you do not believe that you owe them. 
  5. Let’s say it again: Always make your payments on time each month, it is so important

Metrum is Here For You

At Meturm Community Credit Union, your financial health is important to us. If you know you need to rebuild your credit, but need some help getting started, contact our helpful staff to discuss your concerns, and for the assistance you need to begin the path to credit wellness.