I am about to come across approximately $10000 which I plan to sit on for down payment money. I was told about secured loans and how they work. Is it worthwhile to get a secured loan? Does it drastically improve your credit rating? If you get multiple secured loans (i.e. deposit money into bank A savings account, use that money to get a secured loan, use money and get secured loan at bank B, do that 2 more or so times..), will that improve your credit, or will people look at your credit report and be suspicious you have multiple loans out for the same amount. Any ideas? Darkhound73