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!

Question

Posted in Credit Scores
Profile Image

Question By
Prittycurrency

0 Contributions
0 People Helped
Will personal secured loan raise my credit score
Will a personal secured loan help raise my credit score? I already have credit cards 1 secured and that helped me get 2 unsecured cards.. on my credit report I do not have enough mixed accounts.. I don't want to get auto loan because I do t need it right now .. any other ideas or helpful tips

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1643 Contributions
1886 People Helped

Helpful to 1 out of 1 people

Personally I would not do it solely just for my credit scores benefits. Depends on your credit profiles, your score might get better with it, but not initially as you gained inquiry(s), new account/lowered credit age, more debt/high loan balance to its original amount and your score would most likely drop when it's paid and closed. The "sweet spot" to credit scores is short for installment loans. However, if you really interested in going that route? I would suggest you go over to MyFICO dot com forum and look into threads regard installment loans, there is one big thread about Alliance Credit Union's share secured loan, where you can pay it down to 10% right away and pay like 5~10 dollars per month's so you can stay in the "sweet spot" much longer.

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

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

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.