$10,000 Loan to Build Credit?

[alexstrem]

It seems to me that this is the most stupid decision. Don't you think so? After all, he needs to increase his credit score, including due to the number of credit lines. The number of credit lines (accounts). The more loans you have properly repaid (absolutely everything is taken into account, even transactions that did not pass through banks — rent, installments, whatever), the better. The ideal is about 15-20 credit lines for 5-8 years of history.

[myrdale]

It seems to me that this is the most stupid decision. Don't you think so? After all, he needs to increase his credit score, including due to the number of credit lines. The number of credit lines (accounts). The more loans you have properly repaid (absolutely everything is taken into account, even transactions that did not pass through banks — rent, installments, whatever), the better. The ideal is about 15-20 credit lines for 5-8 years of history.

For the record, 15-20 credit lines for 5-8 years is not necessary to build a good credit history. Six months of paying one account on time is sufficiently good start.