Rebuilding Your Credit

[rootpooty]

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youngandbroke wrote:

@Lasardo: What bank did you sign up for this credit building CD program? Sounds like a good idea... I wonder if any local banks offer this program as well. 

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+1 sounds like a great idea too i wonder if nfcu offers something similar to this

[Lasardo]

I went through BMO/m&I (marshal and Isley) I forgot to mention I got 2 secured cards through cap 1 and 1 unsecured through first premier ..good luck!!

[Lasardo]

Also I believe M&i ( marshal and Isley ) / BMO is a local bank..

[pakman92]

I would start with a secured credit card and a secured installment loan...  followed by another credit card.  Good luck.

[Lasardo]

I know the CD program is listed as an installment loan, that is what the bank told me. ..do you think it would be listed as a secured I stall ment loan then?

[rootpooty]

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pakman92 wrote:

I would start with a secured credit card and a secured installment loan...  followed by another credit card.  Good luck.

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+1 this is usually the best way to go if your cu offers a secured card. get the secured loan started then take the loan and open a secured card. good way to get started and a good mix too

[ando35]

I read the ideal mix is 3-5 credit cards with 10% utilized, and one installment.