Question by Elizzie: How does a share secured loan work?
And would this help build my credit or not? Does it use the money you already have in your share account? If so, is this purely a loan to build up your credit or can you actually get more money than what is in your share account?
You use your own money and yes you do build up credit…No you cannot use more than what you have in there…this is strictly used to show credit card companies and others who would give credit that you are able to be responsible with your money.