How To Get Excellent Credit Using Bank Loans

Building credit is actually easier than you might think. It takes a little but of knowledge and the right information and you're on your way to build or obtain credit. Bank institutions are always serving people who have excellent credit and they reserve their loans to the people because they believe that the client will pay back the loan at a certain interest rate. But if you have bad credit or not, it may be difficult to get a good loan for a house or car and even if you get your loan will be in the interest rate ballooned, sometimes paying almost twice the level of someone who has good credit.

So what is the solution to this? What you should know is that to begin to clean up your credit, you need to begin to positively add to your file, and one of the most prestigious positive lines you can get a bank loan, the better you can have three at the same time.

To get started you will need around $ 1000, it is known that the money was not spent would be used as collateral to obtain bank loans to you. Next you need to find three top banks, consider using Bank of America, Chase and Wells Fargo bank. Once you find your bank know lay the ground work. For purposes of this article we will label the bank as A, B, C.

Go to Bank A with your $ 1000 and open a savings account, should have no problem doing this because most banks will open an account for you without a credit check. Once you receive your bank account go home and wait for 3 days. Back to the same bank and tell your bank officer that you wish to make a loan using your savings account as collateral.

Most of the time they will issue you a loan with no questions asked, but be prepared to answer the question whether they will come, for example, you might ask what is the purpose of the money. You may also be subject to a credit check but you should be given the loan because the savings you will act as security. Make sure you tell the banker that you want amotized loan installment payment for 1 year. You also will be frozen for $ 1,000 loan and when you pay back the appropriate monthly amount will be released to you. Once you have received a loan from Bank B to open a new account to deposit the amount of the loan.

Once again you will go through the process over again, and do the same for Bank C. Once you've completed, you are now having 3 to the lending bank you make payments per month, and all this will cost you is the price rate