Can you establish your credit via getting personal loans?

Answer by  flamiss22 (5081)

Yes you can. From whatever institution you get the loan make sure they report it to all the three major credit bureaus. And make sure you pay on time as to avoid a thirty day late at all times.

Answer by  worker7587 (37)

a credit history can be established by availing a personal loan. few checks - the loan needs to be taken for a duration of at least 36 to 48 months. also need to check whether the company or bank providing the loan shares its data with credit rating agencies so that other financiers are also able to see credit history

Answer by  noey1958 (1405)

The best way is to get a secured credit card at your bank and make the payments on time. It is hard to get a personal loan with no credit.

Answer by  tamarawilhite (17883)

A solid payment history for rent, utilities, or a mortgage will give you a good record if your credit history is researched. Get a cell phone or gas card in your own name and pay that in full each month.