Can Bad Credit Loans Be a Way You Could Use to Boost Your Credit Score?

Nothings forever; not even a terrible credit score that's on life support. You've probably heard quite a bit about what you need to do if you have a poor credit and still need a loan. That kind of advice usually focuses on what you need to do to get that loan you desperately need. But there is another side to applying for bad credit loans. They can be a way by which you can help resuscitate your credit score. It's something you don't hear about often - bad credit loans can actually help you improve your credit score so they can get a proper normal credit score loan later on in life.

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Here is how you use loans to improve your credit. The quickest way to make a difference to poor credit scores usually involves doing what it takes to show the credit reporting bureaus that you can be responsible with your loans. What that means is, that if you don't have an installment loan that you're paying back regularly (and featuring prominently on your credit reports) just yet, you need to go apply for a personal loan or something like it. Once you start paying it back regularly and on time every month, you'll find 100 points added to your credit score in no time. And it doesn't have to be a personal loan either. You could get a student loan or a car loan to your name too, just the same.

The best shot in the arm that you can give your credit usually comes from a judicious mix of installment credit, (which is what we just talked about) and revolving credit, which would be credit cards (you can see why they call it revolving credit, don't you?they lend you money, you pay them back, and they lend it to you again?it keeps going round and around). Well, if you don't have a credit card yet, you need to get one right away. There's an old myth that keeps doing the rounds that you need to carry a balance on your credit card for a good score. That would be exactly the wrong thing to do under these circumstances. If you don't have a credit card, you need apply for one or two and keep spending on them and paying your bills on time. Even a secured credit card would be better than none at all. Get something like the Citi Secured MasterCard. It reports to all three credit agencies and is likely to get you a quick credit score boost.

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