Tip of the day: Bank loan with a Co-Signer

Ask a family member or trusted friend if they will co-sign a small personal loan to help rebuild your credit. Most family members with good credit will do this as the loan can be small—say $500 as in the previous example. It’s not as if they are co-signing a long term loan which could put them at considerable risk.

Again, pay off the loan over a short period of time and Bingo, you’ve just added another positive line of credit!

Note: you can use either of the above methods at multiple banks to increase your credit score more quickly!