CD & Savings Account Secured Loans.
Today’s episode is part three in a three-part series about how to rebuild your credit when something bad has happened to you financially, or maybe if you just don’t have credit at all and you’re trying to establish some. The first part in this three-part series was about rebuilding credit using secured credit cards. Then the second part had everything to do with something called the shopping cart trick. This episode has to do with with what’s called CD loans or savings account loans or other types of secured loans. Plus like the other two episodes I got a great free surprise for you if you want to stick around till the end of the video, but of course that means you have to watch the whole thing and stick around to the end.
To Fix Your Credit, Repair Your Credit, Build Your Credit or Maintain the Credit You already Have go to:
Click Here for the Ultimate Credit Repair Course >
For the FREE Webinar go to:
Click Here for the FREE Webinar >
For the Secured Loans Bankers List go to:
Click Here to Access the Secured Loans Bankers List >
What ARE CD/Saving Account Loans?
CD or savings account loans are simply personal loans that you would take out with your bank or your credit union that are backed by a savings account or CD or some other form of monetary collateral.
They come under the larger heading of personal loans, although not all personal loans would be a CD or savings account loan. Other examples of personal loans might be alone where you’ve used your car or your boat or a motorcycle or some other vehicle as collateral. Sometimes a personal loan could be used the way I’m about to describe as well but most often that’s not the case.
The most important part of a CD or savings account loan will be the fact that the credit union to bank reports the payments to a credit reporting agency such as Equifax, Trans Union or Experian. If they don’t report to one of the big three then there will be no point in you getting alone against any sort of collateral. It won’t help you build credit.