Im thinking about taking out a loan to help out my credit report but have a question?

Arif R asked:


If for some reason they do not give me the loan, will that hurt my credit score? Because I know when you get declined from credit card applications it hurts your score. Also, do you need to have a real god reason to take out a loan or is “I want to improve my credit valid?

I want to take out a 500-1000 dollar loan and pay it off without using the money. I know I will be paying some extra due to interest but I want to improve my credit.

Dale

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