Please note, the strategy below assumes an immature credit profile. If your credit file suffers from Missing Payments, Late Pays, Charge Offs, Collections, Foreclosures or Bankruptcies you must first deal with those problems before moving on.
To work this plan you need at least $400 to begin. You should borrow this from your friends if necessary. Then go to a bank of your choice and deposit the $400 into a regular passbook savings account.
Wait a few days for the account to be posted and return to the bank to ask for a $400 loan - you offer the passbook as collateral. Since the bank is already holding your $400, you go to another bank open a savings account lending you another $400 and they won't even make a credit check. Then, with your borrowed $400, you go to another bank, open a savings account, return a few days later, borrow $400 from that bank using your passbook as collateral.
Then repeat the process at a third bank with your borrowed $400. Wait a few days to go to a fourth bank where you open this time a CHECKING account. Wait a few days and make a payment on each of the other three loans. A week later, make payments again on the three loans, and continue paying each week until you have almost paid off the balance.
A credit investigation at this point will show you with three active bank loans (which are considered hard to get), a checking account, and a paying history for the three bank loans - with you having paid up in advance. Thus, you have AAA credit in as little as 30 days. From here you go on to apply for loans, credit cards, and other items on credit.
Where Can You Go For More Information?
If you have additional questions about credit scoring issues, write to: Ron Cooks of The Real Estate Marketplace – Servicing the Greater Fort Hood area which includes: Killeen,Harker Heights,Temple,Belton,Copperas CoveandNolanville. Feel free to call Ron(254) 702-0064if you have any questions regarding Central Texas Real Estate.
For Real Estate Listings in Central Texas visit my website at: www.MyKilleenHome.com or if you’re on the go text 'Ron' to 254-227-5799
Author:Ron Cooks Phone: 254-702-0064 Dated: August 10th 2016 Views: 342 About Ron: I’m a retired Army Warrant Officer that served our nation for 25 years. I was born and reared in ...
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