 TITLE: Why a Credit Card Alone Might Not Be Enough to Build Your Credit CONTENT: Building Credit With a Credit-Builder Loan\n------------------------------------------\nA credit-builder loan is a product specifically designed to help people who have little or no positive credit history build their credit. You can find these loans online, through a local credit union or through a community bank.\nWith credit-builder loans, borrowers make payments into a bank account held by the lender, and when the final payment is made, the money inside that account is returned to the borrower, minus interest and fees. You do not get the money upfront.\nThe length of these loan types vary anywhere from about six months to three years. Compared with other borrowing options for people with bad or no credit, the interest rates on credit-builder loans are relatively low.\nUltimately, credit-builder loans could help diversify your credit by adding an installment line to your mix. END