Comments on: Aim For The Signature Loan http://debtactions.com/aim-for-the-signature-loan/ Debt Consolidation | Loans | Taxes | Students | Bankruptcy | Credit Tue, 02 Aug 2011 12:30:15 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Rootman http://debtactions.com/aim-for-the-signature-loan/#comment-173 Rootman Fri, 19 Oct 2007 18:47:11 +0000 http://debtactions.com/aim-for-the-signature-loan/#comment-173 Geez, a quick check with my bank puts signature loans at 11%, home equity at 6.25% and auto loans at ~6%. Why give the bank any more than they already get? Default on a signature loan and your ass is grass as far as your credit rating, secured loans only a little less so but this is a dangerous way of "increasing your credit rate". How about the old fashioned way of just paying your bills and loans on time? I have excellent credit built that way. Geez, a quick check with my bank puts signature loans at 11%, home equity at 6.25% and auto loans at ~6%. Why give the bank any more than they already get?

Default on a signature loan and your ass is grass as far as your credit rating, secured loans only a little less so but this is a dangerous way of “increasing your credit rate”.

How about the old fashioned way of just paying your bills and loans on time? I have excellent credit built that way.

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