Secured installment loan..?

If i got a secured installment loan and used my car as collateral and paid the loan off in 3 months who this help build my credit fast if i kept doing it for a year? Or would it be bad on my credit cause i would be taking out 4 loans a year ?

it would be beneficial to your credit as long as you don’t have too many loans out at any one time. actually you wouldn’t want to have too much debt compared to your income. credit agencies increase your credit score when you have good credit to debt ratio and make on time payments over time. if you pay it off to quickly it isn’t helping as much as if you take a little time and make on time payments that are a little more than the minimum payment due. i would suggest the latter over taking out several loans in a short time period.

either way you are smart to work on building your credit score, it will help with you many eras in your life.

Fast Loans for Unemployed People.mp4