TRELS's Ways to Pay
Want to preserve cash or build credit or both?
We are here to help!
TRELS's Payment Options
TRELS Credit Builder Tool
Building a strong personal credit profile is the key to securing credit for major purchases to include home buying.
Our credit building tool allows you to learn about real estate and responsibly build credit at the same time as you work toward larger real estate goals and more. Responsible use of this tool means that you shouldn't finance more than $450 of classes at a time.
This tool offers great options:
a. No interest on timely payments
b. Flexible payment terms
c. $1500 line of credit; guaranteed
d. Access to lots of classes well within recommended credit utilitization's guidelines
e. Reporting to all 3 credit bureaus
A Couple Important Factors in Understanding Credit
1. The financial industry's credit standard recommend a credit mix which is comprised of 5 major categories: Payment History, Amounts Owed, New Credit, Length of Credit History, and Credit Mix (Revolving and Installment accounts).
2. Credit utilization. It's best to only use 30% or less of your extended credit limit.
3. Debt to Income Ratio. Creditor's like to see a debt to income ratio of less than 36%.
How to calculate:
Divide the total of all monthly debt payments by gross monthly income, giving you a percentage.
4. Creditors select credit bureaus with which to do business. Not all creditors do business with all bureaus which is how consumers end up with three different scores from the major bureaus.
If at all possible, try to do business with creditors who report to all three bureaus.
How TREL's Credit Works
a. Create a student/subscriber account and select desired self-paced classes
b. Complete an online credit application
c. Shopping cart balances must be a minimum of $300 of which 50% of is due at checkout; The remaining can be paid over a 6 week period using an installment payment partner
d. Payments will be reported to all three credit bureaus after 30 days of payment history
e. Subscriber accounts must remain active to for active credit account reportings