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Should or can I get a loan from my bank?

When can I get a bank loan?

  • I am about to be 18, and when I become 18 I'm going to start me up a bank account. When I get my own bank account, when can I get a loan? I just want a $3,000 loan or cheaper. So can I get a loan as soon as I get a bank account?

  • Answer:

    Ignore all the scam answers above. Opening a bank account does not "build credit." With no credit history, you'll likely need a cosigner for the loan. You'll also need to provide documentation proving that you have sufficient income to repay a loan.

anthony at Yahoo! Answers Visit the source

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If you get a loan now then you'll be in crap....the banks WANT you to loan a small amount....then when you have trouble making the payments every month they will offer to lend you more....they do this by raising the interest rate...so peoples repayments go up to more than they expected...before you know it you will owe 10,000....and then you're in debt for years. DONT loan money....earn some and put some in a saving account.

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