What next? Do you use your $1k in CASH to make payments for all 4 accounts during the next 6 months? Or do the secured CD's cover the loan, and you end up just getting the difference in interest gained on cd - interest gained on loan (or paying the difference) after the 6 months passes? Can u explain further? Is this effective and have you done this yet? I feel that if this works.. then this in conjunction with getting onto another user's card and piggybacking method would work excellent for building credit. What do you think lk? --------- If you have $1000 you can add your own positive credit to your report. Goto your bank and tell a loan officer that you would like a loan for the minimum amount required to have them report it to the credit bureaus. Tell the loan officer that you are doing this specifically to build credit. Offer to buy a 6 month CD worth $1,000 to secure the loan. Since this is a totally secured $1000 loan with a six month payment plan, you will get the lowest interest rate possible. It will likely be only 2% higher than the CD interest rate that you are earnings. Thus the cost of getting this positive line on your credit report is roughly $10 in net interest costs. You can take the $1,000 loan and goto another bank and do the same. Do this with about 5 banks, taking the resulting $1000 to the next bank each time. You total cost after 6 months will be less than $100 after extra interest costs and you will have 5 positive bank loans paid off. Those are great lines to have on your report. My math might be a bit off on the total net interest costs, but not by much. I read of this method on another website. I have never actually done it myself. I will likely try it soon.