Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!


Posted in Credit Cards
Profile Image

Question By

0 Contributions
0 People Helped
do personal loans help build credit
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
28 Contributions
13 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

By "personal loan", I presume you're referring to what's often called a "signature loan", an unsecured loan from a bank or finance company, typically with a specific repayment schedule.

As long as you're getting the loan from a legitimate bank or lender, then they should be reporting your account to the credit bureaus.  The lender should be able to confirm this for you.

Any loan that you consistently pay as agreed generally helps you to build a positive credit history, though it will probably hurt your credit in the short term because it's a new account which increases your debt and your monthly obligations.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.