Jump to content

Rebuilding Strategies while Repairing


Recommended Posts

I have read on a few websites that a quick way to add points to your credit score is to place funds in a bank, and open a passbook loan that is secured against those funds. Next, you take that loan money, and open a similar account at bank #2. Same goes for bank #3 and bank #4. All of a sudden, providing payments are made on time, you got four loans reporting positive information to the bureaus.

Is this as good as it sounds? Are there any tricks or traps to watch for or remember?

How much is appropriate to deposit? How many banks?

How is payback of the loan arranged, and over what period and terms?


Thank you,


Link to comment
Share on other sites

Guest jeeptravel

How to get AAA credit in 60 days . . . if you have a p2p file sharing resource, do a search on credit repair and you'll get tons.

It's basically that you open a savings account one day, go back and tak to another teller the next time to open a signature loan against it. Then, take that money and do it somewhere else and so on and so on and so on.

There is nothing inherently wrong with that, but you end up paying a lot of bills to get all the banks satisfied. I suppose this would show good credit history. Instead of doing it, I was able to get credit from Household, Target, Cap One, Long Beach Car Acceptance co., and Daniels Jewelers. I use the cards and pay them on time, and see an increase in my score.

The AAA tactics just seem sneaky to me. I usually dont do financial things that feel funny.


Link to comment
Share on other sites

This topic is now closed to further replies.

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.