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BritBabe31

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will getting a loan help my credit?
I have a good score of 737 but get turned down for store credit cards because I don't have enough credit.
Will it help my score to get a loan and pay it back on time, or hurt my score as I will have more debt?

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You should be able to get a card with your credit score.  Retail cards have a MUCH higher APR with little to no rewards.  I recommend the Discover or AmEx familes.

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BritBabe31,

Do you have a job yet ? Because that matters for credit card approvals. Best way to build credit would be 


  1. Getting a  co-signer.
  2. Getting a secured credit card. 
  3. Getting your old car financed , for a 12 year term.(if you don't mind paying interest. Just take only a couple of thousand)
  4. Using an existing credit (getting an add-on on some1's account if you don't have one already) and and asking for a limit increase after 6 full-payments.

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I wouldn't get a loan for the sake of credit because that means you are paying finance charges on something you shouldn't have to. I would apply for a credit card instead. There should be some options out there that you can qualify for, and those will help build your credit (just make sure you pay on time and best to pay in full each month).

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Did they mail you the list with the reasons why they denied your application?

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