Credit Builder Loans Worth It?

[Anonymous]

Can somebody please advise me if credit builder loans are really helpful?

[Chickenpotpie]

When I bought my house, the  LO told me 30 days.  Thats probably quite conservative of her but I also didn't really need a card.   What I did notice was during that 30 days after the purchase my  F8 scores went up over 20pts.

Your mom should be fine anytime after funds are disbursed.

[Chris679]

Petert0204 IMO taking out a loan and paying interest just to build credit is a waste of money. There are plenty of free ways to build credit by opening accounts that you can keep long term. Even if you have to open a secured credit card you get the money back and you can get the card unsecured later.

[gdale6]

Hi there OP, I have created your own thread on this in our RYC section. I changed the title and left everything else intact.