@regorik wrote:
I was wondering what would build credit better one credit builder loan for 2k or two for 1k
Good question,,, for just building... I'd go ahead and get two, and pay them off fairly quickly. They will stay on adding to AAoA for 2 years.
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.
AAoA, Average Age of Accounts.
A better result might be if you got 1 $1K loan and 1 $1K secured card. This will give you a good mix, and a revolving account. It's a good base to grow on. And yes, once an account is paid in good standing, it factors in for 10 years genuinely from time paid.
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.