Build Your Credit with No Credit History

Have you recently been denied for a credit card because of insufficient credit history? How can you build your credit if no one will qualify you for a credit card?

Apply for a secured credit card to start building your credit history

To get qualified for a secured credit card, you’ll have to provide your credit card issuer with a security deposit prior to approval. The limit on your secured credit card will be the amount of your security deposit.

The credit card issuer reports your purchases and repayment activity to credit bureaus the same way as the unsecured credit card issuers. That will help you build your credit history.

Use the secured credit card responsibly

Once you received your secured credit card, use it regularly, without overspending and get into a healthy habit of paying it on time.

The secured credit card will incur interest on statement balances that are not paid in full and on time. These charges can add up quickly and they will increase your card balance which will negatively impact your credit score.

It is important to pay attention to how much you spend and when you repay. Make your credit card payments on time, all the time.

Monitor your credit score

Check your credit score and credit history regularly as you get used to your credit card. Your credit card issuer may give you free access to your score.

With controlled spending and on-time payments, your credit score and credit history will improve over time.

High credit scores will help you qualify for low interest loans and unsecured credit cards that offer rewards.

Popular credit cards: CITICHASECapitalOne

If you already have a credit history and need help improving your credit score, our credit repair specialists are a phone call away.

What factors affect your credit score?

Few factors affect your credit score that are related to your past and current financial activities.

Payment history

Payment history includes a record that shows if you paid your bills on time. It includes medical bills, so if there are any that you may have forgotten about, they will show in your payment history record.

Credit history

This record holds information on credit accounts you have opened over the years, how long you have had the credit accounts.

What other factors affect your credit score?

Credit usage

Credit usage shows the current credit account balances compared to the credit limit. The older the credit history and the lower the balance, the better score on your credit.

Total balances

An overall look at the total amount of your recently reported balances. Any delinquencies are included here.

Recent credit

This report shows the recently opened credit accounts as well as the recent credit checks performed on your account.

Available credit

There is a maximum limit on a credit card or account. The available credit is calculated by deducting the account balance from the maximum limit.

We can help you improve your credit score. Call us to learn what steps and procedures we follow in providing you with a successful outcome.

Credit card processing for small businesses

Accepting credit and debit card payments is one of the first tasks for starting a small business. There are several credit card processing options to choose from. If you start your small business and your sales are $5000 or less a month and the average transaction is $100 or more, you will find out that a merchant service aggregator, such as Square, Stripe, PayPal, will cost you less in processing fees than signing up for a merchant account.

It is also convenient for a small, startup business to have a simple per transaction credit card processing charge then having to pay monthly processing and gateway fees, on top of the per-transaction or bankcard discount fees.

If your average transaction is around $10 – $20, then you should probably sign up for a merchant account. If you don’t want where to start, call your small business bank and they can provide useful information.

An individual credit report will be completed before the business will be approved for the merchant account.

If you need to improve your credit score before applying for a merchant account for your business, call Fast Credit Solutions for an initial account review.

Employee Leaves – DOL New Guidance

U.S. Department of Labor publishes new guidance related to employee leaves as the workplaces reopen.

Questions and answers related to employee leaves and “COVID-19 and the American Workplace” can be found on the DOL website: “Families First Coronavirus Response Act: Questions and Answers”. One of the topic that is addressed on the DOL website is:

Can employees that are not teleworking take expanded family and medical leave intermittently while a child’s school or place of care is closed, or child care provider is unavailable, due to COVID-19-related reasons?

Yes, but only with the employer’s permission. Intermittent expanded family and medical leave should be permitted only when the worker and the company agree upon such a schedule.

Employers and employees collaboration to achieve flexibility is encouraged by the DOL. Therefore, if employers and employees agree to intermittent leave on a day-by-day basis, the department supports such voluntary arrangements.

If you need help repairing your credit, Fast Credit Solutions is the trusted credit repair agency in the Las Vegas area. Call us today to start your credit repair process.

Houses are still selling in Las Vegas

The first 2 quarters of 2020 have been very difficult for all and for the economy. However, the houses are still selling in Las Vegas, according to ShowingTime MarketStats.

The decreased number of new listings on the market and houses still selling in Las Vegas is the combination of higher demand and lower inventory which drives the sale prices up. If you’ve been thinking of buying a new home, this may be the good time to buy.

As a home buyer, it is important to have a strong credit record to qualify for a loan to purchase your new home. Small issues, like a forgotten unpaid old medical bill, a payment that you didn’t submit on time, can affect your credit score and therefore your qualifying requirements for a new home loan.

It might be a hassle to identify and correct the issues that affect your credit score. Fast Credit Solutions can do the work for you. Our team has years of experience helping people like you. Call us or click read more below to fill our contact form.

Continue reading Houses are still selling in Las Vegas

Economic Impact Payment or Stimulus Payment

The IRS started sending stimulus checks in April. Taxpayers that filed their 2018 and 2019 returns and most seniors and retirees have automatically been issued the payments without further action on their part.

For those eligible to receive the payment but have not received it, you can fill out eligibility forms on the IRS website

Coronavirus Payment Assistance

Credit card companies offer payment assistance and payment deferment for a month for those that are affected by the business closures due to the coronavirus outbreak. Some have options to request the deferment online, others you must call. The payment deferment makes the minimum payment to zero, so you are not required to make a payment this month. However, it does not remove the interest.

To request the payment deferment from Capital One, call 800.227.4825. They are friendly and willing to help.

For payment assistance from Chase, go to

American Express offers a deferment on both minimum payment and interest. Their financial hardship assistance number is 866.703.4169

Coronavirus and U.S. stock market

The US stock market has been deeply affected by the Coronavirus outbreak in the USA, as it happened to the Chinese stock market a few months ago when the outbreak happened. The global outbreak, officially designated a pandemic earlier this week by the World Health Organization, has triggered widespread cancellations for major sports and cultural events and corporate conferences, travel restrictions, product shipment delays, and impelled universities across the country to halt in-person instruction.

Amid these concerns, the Federal Reserve applied a half-point interest rate cut last week and announced an additional injection of $1.5 trillion in liquidity operations, along with purchases of Treasury securities across the yield curve. Additionally, in an effort to help and maintain the strong economy, President Donald Trump proposed payroll tax cuts and announced that billions worth of low-interest loans will be available to small and mid-sized businesses getting hit by the coronavirus.

Tax Credits and Deductions for Individuals

Tax credits are amounts that you can subtract from the amount of tax you owe.

There are two types of tax credits.

  • Nonrefundable
  • Refundable

The tax credits for individuals can also be divided as:

  • Family and dependent credits
  • Income and savings credits
  • Homeowner credits
  • Health care credits
  • Education credits

Individual tax deductions are amounts that you subtract from your income before you figure out the amount of tax you owe.

Like tax credits, tax deductions can be of different types:

  • Work related deductions
  • Itemized deductions (included here are property taxes and charitable donations)
  • Education deductions (student loan interests are classified as education deductions)
  • Health care deductions
  • Investment related deductions

More details can be found on the Internal Revenue Service website

Black Friday & Cyber Monday: Protect Your Credit Information When Shopping

We all love the discounts offered on Black Friday and Cyber Monday. Whether you are shopping in the store or online, you have to be careful where and how you enter your credit card and any sensitive information. When shopping in the store, if you are required to enter your PIN or the last 4 of your social security number at the checkout, cover the pad with one hand while entering the numbers. You don’t know who’s behind you watching. Additionally, check your bank or credit card activity periodically for any fraudulent transactions. If you shop online, check that the shopping website has the security seal enabled…

Happy shopping!

If you need credit repair services, do not hesitate to call us.