**--- FREE INCREASE YOUR CREDIT SCORE ---**
Posted By: Derrick Mitchell on September 02, 2021 |
GO TO YOUR NEAREST BANK AND ASK 4 A SAVINGS ACCOUNT LINE OF CREDIT & OPEN ONE NOW!!
How it works
1. You open a SAVINGS account first
2. You open a CHECKING account next
3. You deposit the minimum (or any other) amount allowed by the the bank to the SAVINGS
4. The CHECKING account borrows the total amount deposited into the SAVINGS
5. The CHECKING begins to pay the SAVINGS back over the course of the term (1 year for example) each month automatically on time with automatic payment setup. Setup automatic payment at the bank when you open this account
When the term has ended, the CHECKING account will be empty and the SAVINGS will be full (the CHECKING account paid back the money it borrowed from the SAVINGS account)
7. The bank reported to the credit bureaus that YOU took out a loan from it and paid back the loan on time every month for the full term of the loan
You're credit score goes up!
If the bank you went to says it does not have the name of this account, then explain to the BANKER how the account works
The bank most likely has a different name for it
Almost every bank has this type of account
If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email!
More From This Author