Hello all, I am new to the board and have decided to embark on the task of re-building my fico scores. I have read about the 3 bank trip on this board as well as run across it in general google searches. Can anyone tell me if using 3 banks if the magic number to really get a pop in one's credit score, or would 1 or 2 be just as functional? So far I have found LGECU and Associated Credit Union both offer Share secured loans which: (I am also eligible to join both) - Do not require a credit check - Report to the CRAs - unfreeze funds as loan payments are made I also found a few others that offer secured loans, but do require a credit check when processing the loan. It's funny in a way because LGECU and Associated both said "there isn't a need for a credit check because the loan is secured with your own money". The ones that don't meet the requirements are Delta Community CU, Ga State University CU and Georgia's Own CU. If anyone knows of any other credit unions or banks that would fit the criteria please pass them on. Thanks
The only time I've ever used the 3 banks trick is when establishing credit for a new corporation. A totally new identity in other words. I don't care if they want to pull a credit check or not and I don't want them reporting to the credit bureaus. Credit bureaus are for personal consumer credit, not corporations. I won't give them my SSN because I'm not applying for credit, the corporation is and it has it's own EIN so that is all the information they get.
