Top Ten Creditors to Have an Open Account

1. Your friendly neighborhood credit union and in Houston we recommend the following:  PrimeWay FCU, First Service CU, First Community CU and Members Choice CU.  There are many good ones, but these are the ones we know best to report to all the credit bureaus and do that every month without fail.

2. USAA Bank/ They are an excellent financial institution offering various credit cards, auto loans, personal loans and insurance.  They only offer their exclusive services to military personnel and their families.  This is a very top notch creditor that offers high value accounts that help your credit scores immensely when used properly.

3. Wachovia / formerly World Savings for mortgages.  This is another fabulous financial institution that is good for mortgage loans, credit cards and loans.  They offer some of the best service available today to assist their clients.  They can be trusted to protect your credit scores and provide good rates on loans.

4. Chase Manhattan Bank / They provide every level of good customer service to their clients and easily encourage good FICO scores.  They will forgive late payments regularly especially after 6 months of on time payments after doing so.  Their easy to increase limits is first in the industry within certain guidelines.  Just a really good financial institution.

5. Star Furniture / This is a Texas based premium furniture store for selling fine items and offering affordable installment loans and financing.  They do not offer revolving accounts or other charge card services, but the installment financing is much better for the customer’s pocketbook.  They also easily forgive most 30 late payments and are rated an excellent creditor for a healthy FICO.

6. Homecoming Financial Mortgage / This is an exceptional lender for that home loan or for refinancing your present home.  They work closely with you to find the right loan and can be trusted to give you the best one available.  They also are willing to forgive 30 late payments when other mortgage companies would not once you demonstrate a new perfect payment history.

7. Ford Motor Credit / This is the premier lender in the automotive industry including the American and the foreign makers.  No others are rated in the top 10 good list.  They forgive late payments regularly and have a top rating as a premier automotive finance company.  They are friendly to talk to about your account and work to gain your trust.  However, they can be very tough on repossessions as they should be.

8. Wells Fargo, Wells Fargo Financial and Wells Fargo Home Mortgage / This is a big national financial giant that has built their reputation on dependability and consistency.  They never intentionally harm your scores, but they do expect the payments to be made in a timely manner.  They are also understanding and willing to work for their client’s business with the best rates available.  They deserve credit for good financial policies and are reasonable when considering forgiveness of late payments. 

9. Conns Appliance Stores / This is another Texas company who pride themselves in offering credit to most people who their competitors might turn down.  You must show the ability to pay and have a land line to be considered.  Some even have to put a deposit down for that first transaction to demonstrate their intention. They forgive late payments if you have shown a new track history afterwards. They offer both installment loans and revolving, reserving the revolving only for the best applicants with the best payment histories.  Pay these folks as agreed and see your scores soar!

10. Target Department Stores / They offer 3 accounts to their customers for easier financing and payment options.  One of these is reserved for their best customers and best credit building.  This is the Target/Visa card.  They report fairly and are willing to consider forgiveness of late payments when appropriate.  This is a first rate department store with excellent merchandise and customer service.  They care about your credit!