If you're interested in finding out how to quickly improve your credit rating, then this article definitely will not disappoint you. The secret tips given here are proven to raise credit score within 37 days and will be the key to living the life you really want. A good credit rating is important anytime you want to buy a car, get new clothes, get a credit card, have a lower interest rate for anything, or simply get approved for a secured credit card.
Secret Weapon - Passbook LoanThis is a special technique that many real estate people do to establish good credit fast.
This method alone will help you build great long-lasting credit and relationships with banks.
What you need to do first is have about $3,000 that you can put into savings accounts.
Step 1: Find Three Small BanksYou're going to find three small banks that will allow you to open a savings account with $1,000.00.
The banks that will typically do this are small local banks, so look in your yellow pages.
Step 2: Ask The FollowingIntroduce yourself and ask to speak to a bank representative about opening a savings account.
Mention to the banker that you wish to establish credit with their bank and would like to open up a savings account with $500 or $1,000.
Ask the banker if it will be possible to take out a loan secured by the funds in this savings account.
If it's not, then contact another bank. You are looking for a bank that will allow you to deposit the money in the savings account, and loan on it later down the road.
Step 3: Open Three Savings Accounts with Three BanksOpen savings accounts with three different banks. If you can only deposit $500, then do that. You want to deposit the minimal amount to get credit established. Now go out and repeat this process with two other banks.After six months or so, go back to the bank and take out a loan for the amount you have deposited in your savings account. This will give you three new banks where you can take out a loan.
Deposit that money back into the savings account, and pay it off every month.
Your goal here is to establish good credit. When it's all said and done, you will have three places that gave you a loan and with whom you have established relationships. You can go back to them at a later time if you ever need a larger loan or other form of business.
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