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Questions about getting approved in general

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Old Jun 28, 2010 | 5:56 am
  #16  
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Originally Posted by mapsmith
First off, I am not a financial advisor and never would suggest that I am. Back in the dark ages when I was a student, I was told the best way to increase my credit limit was by paying for credit.
An alternative method of "paying for credit" is to borrow a few hundred dollars at a credit union with an agreement to pay it back quickly (say, in 3 months). The cost of doing this will not be much, and it will add another account to your history.

The OP already has a surprisingly high FICO score, so he doesn't need the FICO boost that this trick adds. The only purposes of this would be to add another type of loan to her/his history, and to help ensure that all three credit bureaus have something in their files.
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