The LAUNCH™ Card
Your Credit Building Solution
Ever heard the expression, “It takes money to make money?” It’s the same thing with credit. If you're looking to build or rebuild your credit, it can be hard to get a lender to approve you for a credit line.
That's why the LAUNCH Card is a great option. It's easier to qualify for and helps you build a positive credit history. Once you open your LAUNCH Card, you can enjoy all the benefits and conveniences of credit cards, like easily making hotel and airline reservations and shopping online.
It sounds great, but you might be wondering, how is a LAUNCH Card different than a “real” credit card? The LAUNCH Card is a real credit card. It looks the same and functions the same as a traditional credit card— and no one other than you will know that it's secured by a deposit at the Credit Union.
How Do You Get Your LAUNCH Card?
First, make an initial deposit into a savings account with the credit union. You get to pick your own credit limit by the amount you deposit to secure your credit line. Keep in mind that the deposit will need to be held by the Credit Union as long as you have the LAUNCH Card. Over time, you can receive an unsecured credit line increase with on-time payments and regular deposits to your Credit Union savings account.
Remember that bit about it taking credit to make credit? By using your card responsibly you will establish a strong credit history which makes it more likely that lenders will extend credit to you in the future.