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How to Establish Credit score with Undesirable Credit score or No Credit score [w/ Self Loan provider] | BeatTheBush



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Indicator up for a Self Loan provider mortgage in this article:

When you do not have credit rating to commence with, you are usually left with no a single inclined to give you a mortgage. If you are not able to get a mortgage then you are not able to construct your credit rating. Men and women with less than a 600 FICO credit rating rating commonly receive a secured credit rating card. Now, there is also an alternate mortgage you can receive to boost your credit rating rating more rapidly.

Self Loan provider sells a products known as a credit rating builder mortgage that are traditionally bought by credit rating unions and local community banks. It is basically a mortgage to your self where by you make payments to your self that gets funneled to a CD account. At the finish of a one calendar year phrase, the cash is available to you and you can do as you please with the cash. Make sure you see the video for far more facts.

Disclaimer: Self Loan provider DOES NOT present credit rating repair service expert services. .

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37 comments

  1. no need for the back round music.
    took away from a great video.

    Reply
  2. at the end of the 1 months how do you get your money?

    Reply
  3. I have scores in the 700 range but I am trying to get to 740+. I have an Amex, discover, and two cap one cards with 14k total. My fico says my score is this low because I have no other types of accounts. I have a few hard inquiries and an avg of 5 years of credit with my oldest card being at 9 years old. Would it be wise to try to get a personal loan for around 1k to have a mix of credit? I'm worried about the inquiry hurting me or the new account hurting my avg age of credit. Is self lender a good idea?

    Reply
  4. Hello Mr.Beat the Bush,

    I am in the process of building my credit over the past few months and have seen an increase of over 100 points within the last 3-4 months. The problem is that I was very reckless with credit when I was younger so I have a few charge off/collections on my credit report… I currently am making a Car payment of $300 every month which I have not missed a month, I have a Victoria secret credit card for over 7 years which I have not missed a payment on, and I put my student loans in deferment. I am hoping to buy a house within the next year. My question is would getting a loan like this be better for my credit score vs applying for a bad credit credit card like Credit One Bank? Or should I do both? I am hoping to get my score at 700 it is at 612 right now? What should I do? I watch a lot of your videos and trust your advice. Thank you.

    Reply
  5. What is the benefit/difference of getting the $1100 loan vs the $550 loan if both equally build your credit score?

    Reply
  6. Thanks for this info. I signed up with SL today. I will post an update in a few months.

    Reply
  7. what if you have student loans out the ass and they are negative on your credit report

    Reply
  8. Just signed up..Thanks for the info!! I used your link 😉

    Reply
  9. Great video! Subscribed!

    Reply
  10. So if its accurate items on my credit report, should I pay it or just dispute it

    Reply
  11. Why isn't there a credit builder loan where I give a company 1005 dollars and for one year every month they take out 1/12 at the end of the year they give me back 1000 keep 5 dollars and there is no chance of me missing a payment and they give me 12 months of on time payments

    Reply
  12. Do you need to be employed or have a source of income to get approved with this program? i am trying to build a credit history since i don't have one yet. i tried applying in wells fargo for secured card i still don't know yet if i'm approved, i also opened a regular savings account there too. they asked for employment which i'm not yet so the officer couldn't guarantee for approval of the secured card so i'm still waiting if i'm approved or not.

    Reply
  13. Do you know any others services like This that I can get in New York.

    Reply
  14. Im thinking of doing these. But has anyone have information on the average someone's FICO score goes up. For example is it by 30,50 or by 100 at the end of the year.

    Reply
  15. Self lender isn't available in ny 😩😩

    Reply
  16. hey how are you? My CS is 684 i been stuck here for months. Also i have 4 cards and never leave a balance. What should i do?

    Reply
  17. Does this account show up on your credit report as a Self Lender account?

    Reply
  18. I'm going to try and let you guys know.

    Reply
  19. If I was to do the $2,200 dollar loan , would my score increase more than if I were to get the $1,100 dollar loan ? All feedback would be appreciated ,Thanks.

    Reply
  20. Can I just open this and pay them the entire balance right away or do they need to see actual monthly payments?

    Reply
  21. Thank you for taking the time to make this vid. I do appreciate your point that it takes money to accomplish this faster.

    Reply
  22. Hmm paying $75 for an increase in my credit score rebuild doesn't seem financially wise. How about opening your own money market/ trading account and or a simple Traditional IRA if not both? I'd be willing to bet that those options (which are free) will help more and not cost you a dime.

    Reply
  23. Does this work if I'm in Canada?

    Reply
  24. Denied because of ChexSystems 😩

    Reply
  25. might want to double check how you worded your presentation at 3:403:60

    Reply
  26. you have very good videos. i have recnetly gone through this, as a junior in college (at 19) i decided it was time to establish credit. after 6 months of being denied for every card, i finally broke down and applied for a a capital one secured, only because they offered the smallest security deposit. i was making decent money for a college student and was suprised i was denied all student credit cards. anyways, after 5 months of maxing the cards $200 limit and paying it off, they froze my account. they said i payed it off too much. i told them it was worthless then and to close the account. well the next day i had a $500 credit limit! well two months after that no one would give me a card yet. until amex gave me a $1000 limit on a blue last september. in november thwy raised it to $2,000 so just last month i applied for a non secured from capital one. denied. immediately i cancelled thwir secured card. every mastercard bank had denied me for 10 months since i had the secured card. so i applied for another amex card, and was instantly approved for $2,000 credit limit. so i was up to $4,000 unsecured. then, a week later a bank thats supposedly hard to get in with gave me a card with another $2,000. so in 11 months i gained $6,000 in unsecured cards and a credit score of 720. i honestly believe when banks see a secured card on the credit report, they instantly assume your predisposed to accept only a secured card offer from them.

    Reply
  27. Very nice! I just got an account really fast! I can't wait to see my credit build more! I'm up 50 points in the past 3 months without trying too hard. Now with this account and another CC I will be making nice progress

    Reply
  28. i am in the process fixing my credit i am getting a secured credit card next week also i bought a car 4 months ago currently making payments on my car loan on time every month
    do you think this is a good option for me to build my credit or i dont need this loan because i already have my car loan please answer

    Reply
  29. if you could go threw the process of signing up and cover your info. I'm sure more people would take advantage of it. I'm personally hesitant to try things if i have not watch someone else

    Reply
  30. What number will my credit score be at the end of the year if i started with no credit?

    Reply
  31. One of the best ways to boost your credit score is to be an authorized user under a family member or friend. If you know someone who will allow you to be an AU with great credit history no missed payment on the account, this will greatly help you.

    Reply
  32. Hi, will paying the $1100 loan back within 3 or 4 months help improve my credit score or is it best to do over a years time?

    Reply
  33. So does doing the 2200 loan grow your credit larger or does going with the 550 even matter?

    Reply
  34. I've watched your videos before, and believe you definitely know your credit. In other words, your accumulated opportunity cost-of-capital mathematically can be represented as 12 (1.001) + 97 * S-angle-12 at 0.000083 ~= 1176.55. Thus (given a few assumptions), the NFV is 1101.10 – 1176.55 ~= -75.45. That is, you end up forgoing $75.45 in the long-run. So the question is to ask yourself: am I willing to spend $75.45 so that I can potentially raise my credit score? (A way to answer this question is to measure your expectation; namely, how much, maybe, will your credit score increase.)

    Reply
  35. Hey man awesome video. So i just got my first card with a $300 dollar spending limit. My credit score is 628 and i have about a thousand dollar debt from an old medical bill. Would this be a good idea for someone in my situation? Its hard trying to figure out exactly what can and cant help. I intend to buy a car in the next year or 2 so i want my credit to be good enough for something nice. Really enjoy your videos and appreciate your comment responses, lots of great information here. Thanks

    Reply
  36. I notice something you may not know if you get a cd 1000  dollar 0.01 apr there is something called private banking these are the practices of the elite and there are many things that you can do you will have to do some research your self as l am not going to give up the secret  but l know people struggle every day and if you wish to not struggle education is the answer  are you very responsible l will give you a hint you are creating a security have you ever got back the interest from the rent you paid to your land lord as he is not entitled to keep that interest you have 3 yrs to request that interest you have 3 yrs to request other interests as well if you know how about a percent of the interest you paid on your loan more you say ooooooooooooohhhhhhhhhhhh cant do your home work for you if you look hard enough on you tube you may find it though l think l may have seen something on the subject! if this interreges you than you might want to look up the tax act tthe redistribution of wealth,    Someone always requests the interest back on securities if it's not you who do you think it is the bank maybe don't expect the bank to tell you anything about private banking and l won't even get into managed accounts and compounded interest  Einstein was asked what the most powerful thing in the universe was he said compound interest

    Reply
  37. well, I have a very crappy score of 414.

    How can I pull myself out of that?

    Reply

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