How Do I go about putting something on my credit?

Question

I have an inside loan for my braces. The total amount is $6000, and I put $1300.00 down and I pay monthly $254.00. They are not reporting this to a credit bureau , but I would like it to show up as a loan I am paying for a year and a half.

Answer 1

One way to do it would be to get a personal loan to pay off the balance, then make the payments to the bank. The bank WILL report it to the credit bureau.

Answer 2

If the inside loan is from a friend or relative it isn't worth the time and effort to report it as it gains them nothing and you very little. If it is from the dentist, ask him if he will report it. The worst that could happen is he can refuse. He probably will because it will be too much of a hassel to spend the 30 seconds necessary to report it. And if he won't try to get a loan from a bank or credit union. Signature loans are very high interest, though, so consider it very carefully. Since you won't be paying on this for at least three years it will not have much impact on your credit score anyway and, in fact, could actually HURT your chances of obtaining credit through some credit card companies.

If you were a client of mine I would advise you not to waste your time with it. But of course you are not a client of mine so you have to make the best decision for yourself.

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