Taking Out A Loan To Improve Credit - FirstAmericanTV.comHave a low credit score? I got a quick tip coming up next⦠Hey, this is Joseph Yomtoubian and you are watching FirstAmericanTv.com. A low credit score is hard to change but there are ways to raise it. Go to the bank, and get a small loan, about 1,000 dollars. You will have to pay about 7 percent interest rate, which isn't that much, about 70 dollars a year. Every month when the bill for it comes, pay it off and your credit score will go up, and continue that for a few years and once the loan is paid off, you will see a significant increase in your credit score and will be able to get much higher loans. That's it for nowâ¦.Thanks for watching FirstAmericanTV.com. I'm Joseph Yomtoubian. Check back soon for more tips and real estate news.