Ostroff, Fair and Company
*Ostroff, Fair and Company>>>Credit

What would benefit my credit more? A loan from my 401(k) or taking out a bank loan and repaying over a year?


I'm trying to improve my credit. I know taking a loan from a 401(k) is a no-no but when I pay the interest back I would be paying myself. I like that idea.

Never, ever, ever borrow from your 401K. That should be the last step you can take period. Plus a 401K loan doesn't help your credit.
yeah but for credit purposes, the bank loan would be much better...oh no, leave 401 alone and borrow from bak.
The 401K loan won't even show on your credit report.
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