Go Back To Search Results Question Is a secured loan a good methods to rebuilding credit? I'm skeptical about this because I don't really see the "loan" when I'm giving $500 to the bank, then they hold it, give me $500 and I repay the amount over 12 months for about $43/month. If it helps me rebuild my credit, then I'm all for it! But does it really? By bfulford74 Posted on 07/13/08 Total Answers 6 Answers- it's considered credit and will end up on your credit report as a line of credit. if you make your payments on time each month, that will be reflected on your statement. Answer by : Tracy V On Date 2008-07-13 08:05:26 yes.. and so are secured credit cards. they should all help as long as you dont screw it up. Answer by : N K On Date 2008-07-13 08:19:29 Just ask the bank if they reporrt secured loans to the bureaus because some do and some don't. Answer by : stan c On Date 2008-07-13 10:30:25 HI ,my names is Joy ose.i saw your question in yahoo answer .i decide to referred anybody who is dire in need of loan to this God fearing man because i have been SCAMMED twice by this fake lenders.when i have bad credit is this man that gave me{ $60,000] without anyupfront fees.you can get to him via Email james.wood8483@yahoo.com. tell him joy rose referred you to him who he gave a loan to.Goodluck thanks,from joyrose Answer by : joy Rose On Date 2008-07-13 14:55:52 It most definitely can help you rebuild credit as long as it is reported to the credit bureau. Answer by : DAS On Date 2008-07-13 18:45:05 Just take credit and pay it in time, and your credit score will be growing. To avoid common mistakes while buiding credit, I recommend this one - http://freecreditreport.deep-ice.com - to monitor changes in you score and pre-estimate future scores for different scenarios of payments. Answer by : Jim Z On Date 2008-07-15 08:30:58   Go Back To Search Results