Expert Credit Help + Small Business Lending My own story of credit building has helped me live a great life: Step One: Walk into a credit union and ask for info on a credit building account. Step Two: Open a credit building account with $1,000 or even better with $2,000 as collateral. Then borrow an amount that is equal to the collateral. Key Point: I went into a major bank where I had an account and asked about a credit building account. Her response: Yes our bank does those. 18% Interest $79 start up fee and the collateral account is locked until paid off. With many credit unions for a credit building account the interest is very low and the money in the collateral account can be accessed after the first payment because the collateral requirement is equal to the loan balance. -Much more on this later..
