- Green Member
- Posts: 14
- Joined: Sat Feb 27, 2010 11:14 am
- Website: http://www.businessmoneytoday.com/Search/Business_Credit_Cards.html
- Location: Texas
Three trade lines is correct. This is how I did it many years ago - I got a charge card from a department store like Sears or JCPenney's - use it once - paid it off then cut up the card. Trade line 1 (I actually did this twice as there were not many options in my younger days) - For the second trade line - get a cell phone contract. For the third and you should always have a term loan on your credit - take a few hundred dollars and put it in a separate savings account. Then, use those funds as collateral for a small loan. Wait one month - use the loan funds to pay back the loan (there will be a small interest charge). Then walk away with a term loan on your credit - should last up to 7 years on there in good standing.
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