How do you build credit if you have no credit? How do you navigate financial institutions when all your experiences with them have been negative? For many people, including Vantage West member Greg B., these questions are a harsh reality and a tricky path to navigate alone.
“I’ve never trusted banks,” says Greg. “Growing up, my family always had bad experiences with banks. We didn’t have much money, and it seemed like the bank was hitting us with fees all the time. We also didn’t have a line of credit because we didn’t have money to pay anything off.”
These childhood experiences stuck with Greg, leaving him resentful of institutions that felt more harmful than helpful.
“I was like a caveman,” says Greg. “Hiding money around the house, sticking money under my bed.”
A Hard Lesson in Credit
When he needed to buy a car, he had to use his wife’s credit—which was low. The result? A sky-high interest rate that left them barely making a dent in the loan. Then, Greg was involved in an accident.
“By the graces of God, the car was totaled,” says Greg. While it sounds strange to call that a blessing, the accident gave Greg a fresh start.
Thanks to insurance, he was able to buy a new car. This time, the car was financed through Vantage West Credit Union thanks to a dealership partnership.
A New Beginning at Vantage West
Greg started visiting Vantage West’s Black Canyon branch (now 43rd and Peoria) to make his car payments. “When I walked into the branch, I would see signs for credit cards and mortgages,” says Greg. “It had been on my mind for a while to learn more about credit cards because I knew I would need credit if I ever wanted to buy property.”
One day, he finally gathered up the courage to ask relationship banker Jessie Mills about our credit cards.
“I’m gonna be honest, I was scared,” says Greg. “But Jessie was personable, made me feel valued, and took the time to explain the best way to build my credit without pushing a credit card on me. I appreciated having the information to make my own decision.”
And while he didn’t open a credit card that day, his interaction with Jessie stuck with him.
“After about a month or so I went back in there and told her ‘OK, let’s go,’” says Greg.
Building Credit, One Step at a Time
Jessie set him up with a credit card, but Greg was hesitant to use it at first. He would make a purchase and then immediately pay off the balance, causing the purchase to not be reported to the credit bureau.
He went back to Jessie, and together they built a plan to work on building credit over time.
“I started to leave a balance on the card and then pay it off on time,” says Greg “And I made sure to keep my balance within a reasonable credit limit.”
And his work began to pay off. Following Jessie’s guidance slowly and steadily, he built his credit until his score rose to over 800.
This achievement helped him to purchase a car at a reasonable rate for his wife, and recently he was even able to drive a new car off the lot for himself as well.
“Jessie’s help really touched my heart,” says Greg. “She helped me because she cared and wanted to help me. In a world where it feels like everyone is trying to pull a penny from you, I’m so appreciative for my experience with Jessie and Vantage West.”
Advice for Others on the Same Road
With a strong credit score in his back pocket, Greg has his eyes set on achieving a few more goals.
“I hope to one day own a property and have a house of my own,” says Greg. “My mom still lives in the projects in Phoenix, and I’d love to move her out of there and take care of her.”
Looking back on his experience, Greg offers this advice to those wary of financial institutions and credit like he was: “I don’t care how old you are, you need to start building some kind of credit. Otherwise, you’ll end up with outrageous interest rates like the ones I had on some of my early car purchases.”
“And when you visit 43rd and Peoria, ask for Jessie and tell her that Gregory says, ‘Thanks.’”
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This testimonial reflects the personal experience of a member of Vantage West Credit Union. Individual results may vary and are not guaranteed. We do not provide compensation for testimonials unless explicitly stated. All testimonials are voluntary, and we take measures to ensure authenticity. The views expressed are those of the individual and do not necessarily represent the views of Vantage West Credit Union. Credit-building outcomes depend on individual financial behavior and credit reporting practices. Membership eligibility required. Terms and conditions apply. Products and services are subject to approval. Federally Insured by NCUA.
