I'm looking to help bump up my credit score. I would like a card with low annual fee's and possibly no application or processing fee's.
But I also heard that it can be just as good to take out a small personal loan and pay it back on time, and that it will do the same thing as a secured card. Is this true?
Thanks!|||The best are offered by Orchard and Citi Bank.
They don't have the lowest annual fees - but are not scam cards.
Compare both of these to the bank you have a checking account with.
It is best to make a secured loan.
You drop $1,500 to $3,000 into an savings or a cd and make a loan against it.
Tell the bank you plan to do this first to develop your credit.
They don't care - they are making money.
Make sure they report to all 3 credit bureaus.
A personal loan is extremely hard to get.
You will see interest rates that you didn't know existed.
Only if you have amazing credit or strong collateral can you get a good deal on a personal loan...|||Barclays
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment