This is one of the most important steps in this program. By the time this step is completed you will have three excellent credit
references to place on your next credit application. Why is this important? The next time you fill out an application take notice on
how many references it asked for. They usually ask for three. The “Three Bank Maneuver” is designed specifically for that
reason. This method of credit building is perhaps the finest way today of obtaining beginning bank credit. Instead of Banks, you
can also use Savings and Loan, Credit Unions, or even a combination of all three.

To operate this maneuver you will need some beginning cash. Use as little as $1,000 or as much as $5,000. The more you use the
better. It is important to remember that this money will not be spent. It will be kept as security in a savings account until you are
through using it. We recommend that you start with $1,000.

LOCATE YOUR BANKS

The first thing you need to do is locate your three banks. Get your local yellow pages and call around. Ask for the loan
department and ask the following questions. What is the yield on savings accounts? What is the minimum a bank will loan on a
passbook savings account? What is the percent you can borrow? You must also ask what credit bureaus they subscribe to, and if
they report automatically, and if so, how often.

Once you choose your three banks, the first step is to go to “Bank A” and open a passbook savings account. (Do not put money in
any other type of an account, even if it does pay a higher rate of interest) Take your passbook home and wait three days. Then
return to “Bank A” and ask to see a loan officer. Look your best, be courteous, and explain that you wish to take out a loan for
which you are willing to place your passbook as collateral. This is the easiest type of loan to get because it is totally secured with
cash. Most banks are willing to loan you 85% of the amount you have on deposit. When you take out your loan your savings
account is frozen, however, every time you make a payment you unfreeze an amount equal to your payment, less a few dollars for
interest. Be sure to ask that the loan be for at least one year, with minimum monthly payments. Do not get a simple one year loan
with no payments. This will serve you absolutely no benefits whatsoever. What we are trying to establish is a payment history. You
will not be turned down for this type of loan no matter what your previous credit history is and in most cases it will not even be
checked. If you have bad credit, make sure you tell your loan officer before he pulls your credit history. Tell him you are trying to
re-establish your credit, and that a good credit rating is very important to you now.

Once you have obtained your $850 loan (85% of $1,000) take your money to “Bank B” and open a second passbook savings
account. Wait three days and go get your second loan. This time in the amount of $723. (85% 0f $850). Again be sure it is an
installment loan of at least twelve months. Take the money to “Bank C” and open another passbook savings account. Wait three
days and go get your third loan. This time it will be for $614 (85% of $723). You now have three bank loans totaling $2187 and
$614 in cash. Now don’t worry! You might be asking how you are going to pay off $2187 in loans with $614, but it is easy. As we
mentioned before, every time you make a payment, and amount equal to your payment minus the interest is “unfrozen” in your
account. (Figuring an interest rate of 12% on that $79.33, $8.50 is interest charged). Subtract this interest from the $79.33 and you
get $70.83. This is the amount of principal paid back. Since your savings account calls for a 15% cushion above your loan
amount, when you pay the $79.33 you “unfreeze” $70.83 which can be withdrawn without disturbing your loan collateral.

THE PAY BACK PROCESS

By the time you get your third loan, your first payment will be approximately seven to ten days away on your first loan. At this time
take enough of your $614 to make your first payment. Do this at “Bank A”, “Bank B”, and “Bank C”. At this time you are ahead
of your due date by one week at “Bank A”, two weeks at “Bank B”, and three weeks at “Bank C”. You have used $205 of your
$614, but at the same time you have unfrozen about $182 of your frozen funds which you can withdraw at any time.

Now wait about three weeks and go back and make your second set of payments. At this point you will be approximately a full
month ahead on all your loans. With the balance of the $614, make your third payment at each bank on the second payment’s due
date. Now you have spent the $614, approach each bank and withdraw the funds that have become unfrozen. This will be about
$545. Once again use this to make your monthly payments, always one full month ahead of schedule.

Continue this process through the sixth month. You can pay off your loan in full after you have reached your sixth month or you
can follow it all the way through. It is not advised to try to pay them off prior to the six months as six months is unofficially the
minimum history allowed when considering an account as a possible credit reference.

Remember, the entire reason for this process is to establish your three banks as future credit references.

HOW MUCH DOES IT ACTUALLY COST?

In this example, the interest rate was 12%. However, the savings accounts were drawing 6%. This means your net interest cost
was only 6%. The amount of interest charged for “Loan A” is $102. The amount of interest you will receive on your passbook
savings account is $51. Therefore, we subtract $51 from the $102 and get a total one year charge of $51. This amount is only
$4.25 per month. But since you are paying off the loan after making the sixth payment, your true cost is:
“LOAN A” Six Months at $4.25 $22.50
“LOAN B” Six Months at $3.61 $21.69
“LOAN C” Six Months at $3.07 $18.52
TOTAL ACTUAL COST $65.61

That’s a small amount to pay for three references that you now have, and you still have your $1,000. It would be an excellent idea
to contact your bank and ask what credit bureaus they report to. Contact the credit bureau and ask them to send you a “Credit
Addition Form”. On this form you list the piece of credit to be added, and mail the form back to the credit bureau and they will do
the rest.

Now, six months have passed, and the majority of your bad credit should have been erased from your credit file, and you should
have three excellent credit ratings. You are now ready to go to the next step.

ACQUIRING VISA / MASTERCARD

If you wait until you have completed your three bank maneuver you should be able to get a Visa of MasterCard at just about any
bank you wish. If you are in a hurry, it may be necessary for you to apply for a secured card.

Now that you have your credit card, it is time to go shopping. First of all, go to a jewelry store in the mall near you and purchase
an item that is equal to near the maximum of your credit card. Be sure not to buy a sale item, and find out how long you have to
return the item for a full refund. Buy the item on your credit card and enjoy it until you have to return it. Be sure to return it
before the final return date. At this time they will issue you a credit memo for your credit card. What is interesting is that a credit
to your card is the same as a payment, and it will show on your credit report as a high, a “0” balance, and a “as agreed” payment.
Next, go to a bank and make a cash advance near the maximum of your credit limit. Do not spend the money, but wait until your
billing date and make a prompt payment in full. There will be a small charge for this, but it will provide you with yet another rating,
separate from the previous rating. Now you can go to Sears, Wards, Mervyns, or many other department stores, and by showing
your Mastrcard or Visa, qualify for one of their credit cards.

HOW TO ADD YEARS OF CREDIT HISTORY IMMEDIATELY

The final item to re-establish your credit is probably the easiest. What is necessary for you to add years of excellent credit history to
your credit profile, is the love and trust of a friend or family member who has good credit.

Each month when they receive their credit card bills, they are asked if they wish to add anyone to their credit card. By having them
answer “YES” and adding your name, they will in fact cause a new credit card to be issued in your name. They will, however, be a
co-signer on that account. Since even those who love you don’t normally want to jeopardize their credit rating, you should have
them use their address on the application. When they receive the card, ask them to cut it in half, thus rendering it useless.

What will happen though is that by the issuing of the card it will automatically create an entry on your credit report, and instead of
showing the application date, it will show an opening date of when the original card was opened and the entire credit history of that
card. Therefore, without jeopardizing your friend’s or relative’s credit

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