How To Build Good Credit And Prepare For Post-Pandemic Inflation

How To Build Good Credit And Prepare For Post-Pandemic Inflation

Oportun store in San Francisco Photos by Erin Lubin

Photo: Oportun / Courtesy

Recent news reports show that Americans are facing rising costs for food, housing and transportation due to rising inflation. This has caused some to panic and worry about paying their daily expenses.

In response to rising costs, having access to a credit card or personal loan can give people a feeling of security, knowing that they are prepared to handle whatever life throws at them. People with limited or no credit history may find these simple products difficult to obtain without professional help. But help is available for those who need it.

Oportun is one of the few companies that specializes in helping people with limited or no credit history, and can provide a solution to the rising cost of living in the aftermath of the pandemic.

For more than 15 years, Oportun has been dedicated to financial access and inclusion of the approximately 100 million people in the United States who are excluded from the financial mainstream because they do not have a credit score or have been incorrectly rated by a traditional credit bureau. But to have a credit score, you must first establish a credit history.

Do youWhat is the credit history?
Like a person’s resume, a credit history shows the details of how you manage your finances. To qualify for a loan or credit card, it helps to have a good credit history.
A person’s credit history consists of their past and present credit usage, as well as the number of credit cards or loans they have and whether they made late payments on those accounts.
Without a good credit history, most banks or credit unions won’t even consider you for a credit card or personal loan. Or, if they give you one, it usually comes with high interest rates.

Companies like Oportun offer people with no credit history a start on the right track. They offer different products such as personal credit cards, and personal loans.
“We are committed to helping people take control of their finances and we have the tools and resources to do so,” said Raul Vazquez, Oportun’s CEO. “We are proud to have helped more than 900,000 people to establish a credit history and give them the opportunity to build a better future.”

Through Oportun, clients can apply for an easy-to-understand, affordable, unsecured, fully amortizing personal installment loan with fixed payments and fixed interest rates throughout the life of the loan. Oportun loans are priced below 36% APR, have no prepayment penalties or balloon payments, and range in size from $ 300 to $ 10,000 with the flexibility to repay in months rather than weeks.

As the cost of daily living in the United States begins to rise after the pandemic, people are likely to need a way to feel less stressed about paying for food, rent, medical expenses, or other unexpected bills.

Here are some tips on how to maintain and improve good credit:
• Always make payments on time. Even a late payment can damage your credit history.
• Create a budget and stick to it.
• Set reminders about when your payments are due.
• Keep account balances low by making small, frequent payments throughout the month.
• Don’t apply for new credit unless you need it.
For more information on building a better life with a credit card or personal loan, visit
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