@Anonymous wrote:Thanks for that info thats what i needed to know, one question if I had a credit builder loan and made a large payment early on to bring the ballance down to below half of the limit do you think that would be benneifitial ?
Extremely Beneficial! The technique is to add a small "share secure" installment loan to your credit profile. After you do that, you then quickly pay off most of it, so that you owe < 9% of the original loan amount. You then keep the loan open for the whole term of the loan (e.g. 4-5 years).
