 TITLE: Everything You Need to Know About Credit-Builder Loans CONTENT: Other Options for Rebuilding Your Credit\n----------------------------------------\nGetting a credit-builder loan isn't the only way to give your credit profile a boost. You can also use one or more of these strategies to build credit:\n*   **Opt for a secured credit card**: Unlike a traditional credit card, a secured credit card requires you to make a deposit, generally $200 to $2,000, which becomes your credit limit. That protects the card issuer if you can't pay off the charges. You can use the secured card like a traditional card, charging small amounts and paying your full balance each month. Over time, if you use the card responsibly, the bank may be willing to convert it to a regular unsecured credit card account. Make sure the issuer reports your account activity to the credit bureaus so the card will, in fact, help you build credit.\n*   **Ask a family member to add you as an authorized user**: Authorized users on credit card accounts are not responsible for making payments, but they can still use the account. Payment history will appear on their credit reports. Not all creditors report authorized user accounts to the credit bureaus, though, so ask before being added.\n*   **Apply for a secured personal loan**: A secured loan is one backed by collateral, which the lender could take possession of if you don't repay the loan as agreed. While a secured personal loan can help you build credit, the prospect of losing the collateral you put up—such as your car—could make this a riskier option than, say, a secured credit card that requires a small cash deposit.\n*   **Apply for an unsecured personal loan**: Unsecured loans aren't backed by collateral, so they may have higher interest rates and be harder to get than secured personal loans. Lenders will look at your income, credit scores and other financial obligations that affect whether you can repay the loan. But like secured personal loans and other installment loans, making on-time payments can bolster your credit score. END