Credit Builder Loan? Should I do it?

[Ben Zelenka]

Hi BP! I'm a 17 yr old college student on my journey to Financial Independence through Real Estate. I've been trying to figure out how to build credit ( since that is very important for financing) and I came across this Credit Builder Loan program. In the next week I'm going to ask my parents if I can get authorized to use their credit card to start building credit. This Credit builder Loan is another way to quickly build credit. Basically you pay the certain amount every month to pay back the loan, and after you have paid it in full you get the money back in a CD. Does this sound like a good idea? Is this unnecessary? Give me your thoughts. Thank You!