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HFC loan to build credit?HFC loan to build credit?
newbie19 said: "I heard somewhere that it's a good idea to take out a small loan (for like $1,000) from someplace like HFC and pay it back over time to help establish a good credit background. Is there any truth to this or should I just go with a credit card instead?"
WhatTheFrank.com said: "Yes, if get approved. Helps your installment accounts which is a factor of your credit score. Then, open up 3 credit cards to help your revolving credit which is a factor in your credit score. If you get approved with HFC for an installment loan, be prepared to receive a phone call from HFC credit card department extending a new credit card also."