Re: So I went to this Get Rich Quick seminar today...

Posted by scott (65.25.98.79) on September 13, 2002 at 16:25:12:

In Reply to: So I went to this Get Rich Quick seminar today... posted by CC Collector on September 12, 2002 at 15:44:35:

I have seen this before. Take 500, put in credit union, take out secured loan for 500 on this money. go to credit union #2 and repeat and then do cu #3. Then you use the $500 from the last to pay off the 3 loans per month and after 6 months you pay off the rest of the loan and make up the small difference in interest out of your pocket. It gives you 3 good tradelines, 3 good bank installment loans which is a negative factor on my TU report, and is suppose to get you to A+++ credit scores quickly. The downside of course is the average length of time of your report takes a hit but I will be trying this soon enough. Make sure the credit union does not pull a hard inquiry and does put secured loan on your credit report. Of course, also make sure they do post to your credit report.

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