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supercharger55

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Credit building scores for someone with good credit scores
I've recently got job and started building credit score and it's few months old. I have a score of 725, but it is only made up of credit cards.
Should I go for credit building loans ( don't need loan other than improving scores) such as non profit http://missionassetfund.org/lending-circles/ or any credit union builder loans ? But, I have heard stories about these loans only helps people with low credit scores, Is it true ?

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If your score is 725 and you are maintaining management, you do not need to get a loan just to get a loan.   It will add it to your accounts and it will have payment history, but why are you willing to pay interest on a loan 10-15% just for a few points.   When the loan is paid off your score will decrease shortly and you'll be back where you are now.   You stated that your accounts are a few months old.  Just keep doing what you are doing and wait for them to mature.  Then, when you have a true need for loan (IE: Auto, House) you will be in a better position.

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Thanks for the helpful response. The reason is I wanted to have different credit lines, as I want to buy house in a year. It could be my misconception that I need different credit line, and not sure how much it will be helpful for mortagage.

As for how much it costs,  If you use missionassetfund.org it is free ,and if you use any Credit union it is from $10-$30 for a minimum of $500 ( some credit unions offer at 6% at minimum of $500) 

PS: Some of this information I am writing for people to save from researching this information

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