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2 Bumps

Where to get a small loan that would help our credit?

Do you know where this would be? The bank told us to find a place that would do this to help out our credit to get a home loan. A small amount like $500.00. Even though I know we'd most likey pay plus half that by the time it's all paid.. lol.. Or do you think thats even a good idea?

Thanks

Answer Question
 
bizima4

Asked by bizima4 at 5:22 PM on Sep. 28, 2010 in Money & Work

Level 15 (2,172 Credits)
Answers (4)
  • Go to a local bank and give them $1000.00. Then borrow it from them and pay it back over a year. You only pay like less than $200 in interest and it builds credit. Good Luck
    dancinintherain

    Answer by dancinintherain at 5:24 PM on Sep. 28, 2010

  • You could get an instore credit card and pay it off the same time you charge to it. Sears, JcPennys...they allow you to charge to it and then turn around the next minute and pay it off. no interest is accrued and your credit history goes up.
    Jademom07

    Answer by Jademom07 at 5:25 PM on Sep. 28, 2010

  • In addition to the suggestions, start paying off things.
    Mom2Just1

    Answer by Mom2Just1 at 5:28 PM on Sep. 28, 2010

  • Department store credit cards are a good place to start - use them, and pay off the balances. You could also try the bank you have a checking account through.
    Scuba

    Answer by Scuba at 9:13 AM on Sep. 29, 2010

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