Applying for a Personal Loan?

TheWhiteRabbit420

Active Member
I gave up on trying to talk to my own bank about this..
I want to apply for a small personal loan just to help establish credit.
I don't really need the money, I can play around with it a little but I have no credit. I don't have bad credit or good credit.
Im not sure what I'm supposed to tell them what the loan is for and how much would be good to start off with..
I was thinking $2,500, which I have..paying it off in a certain amount of time so I have some sort of credit to work with..
I don't need the 2,500 for any other reason.. It would be nice working towards a larger loan in the future though.
 

Megafactor

Active Member
I sent Capitalone master card $200 and they sent me a credit card with a $200 limit . I was in the same boat. Now I have a line of credit which is a loan that never closes unless I close it. It has a high limit but I don't use it at all anymore. I also now have a credit card which I also never use except for the odd online purchase to just keep the credit going. Hope that helps. http://www.capitalone.ca/credit-cards/guaranteed/?Log=1&EventType=Link&ComponentType=G&LOB=MTS::LCTMMBESH&PageName=View+All+Credit+Cards&PortletLocation=4;ca-12-col;1-1&ComponentName=Credit+cards&ContentElement=11;/media/graphic-logo/canada/our-cards-guaranteed.png&TargetLob=MTS::LCTMMBESH&TargetPageName=Guaranteed+Credit+Cards&external_id=WWW_CX884_CSE_CAN_00_GEX00_PROD_ZZ_T_SEM
 

baddfrog0221

Active Member
A bank typically does not just give away $2,500 without any rhyme or reason...

You should probably think of something to spend the money on before taking it out. Why not just issue a credit card and then make monthly purchases through that to establish yourself? You don't have to maintain a balance (pay it off month to month).

Otherwise take out a loan and buy a car or something. Then pay it off over your determined period. :roll:
 

spandy

Well-Known Member
why increase your borrowing power, do you look forward to random debt or is their a home or investment taking place in the near future
 
Top