Whaddya mean I owe you 700 bucks?!
March 20, 2007 5:53 PM Subscribe
Options for (re)building my credit...how best to re-build my credit history with an eye towards home ownership...
posted by richter_x to Work & Money (13 answers total) 2 users marked this as a favorite
After a period of credit irresponsibility in my youth, I am trying to rebuild my credit. I have a time table of a few years to accomplish this.
I have the opportunity to take out a small loan (under 4 grand, but at a positively usurious rate of 29.47%) to add a positive entry to my credit report.
My question to the hive mind is, is there a better way to do this? I have positive entries (paid off car loan, second car loan, charge cards that are current), but I can't seem to shake the negative ones.
For what it's worth, my score hovers somewhere around 590 (depending on which agency you ask), and I have the income to support taking out a loan at a loss to help build this.