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Discussion in 'Credit Talk' started by acegirl, Oct 25, 2008.

  1. Oct 25, 2008 #1
    acegirl

    acegirl Well-Known Member

    I am trying to rebuild my credit. I want to apply for a installment signature loan through a small finance company. Does that rebuild your credit? No bank or union will give me a loan due to my 500 credit score. I know these companies do charge a big interest, so will they help me rebuild? I also know that they do report all three-credit companies.
     
  3. Oct 25, 2008 #2
    jjgross

    jjgross Well-Known Member

    You can also get an over the limit on your checking which is a loan like $300 which also reports.
     
  4. Oct 25, 2008 #3
    acegirl

    acegirl Well-Known Member

    over the limit? You mean overdraft privileges?
     
  5. Oct 25, 2008 #4
    jjgross

    jjgross Well-Known Member

    Yes but they have different accounts,ones a loan that reports to cra.
     
  6. Oct 26, 2008 #5
    jlynn

    jlynn Well-Known Member

    Believe it or not, FICO tends to frown on finance companies.
     
  7. Oct 26, 2008 #6
    acegirl

    acegirl Well-Known Member

    Thanks for letting me know.
     

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