<prompt> Human: What is the best way to utilize the credit card? What is the best way to pay off the loan? The loan officer advised me not to pay off the loan all at once and just make payments on time. She also suggested I open a savings account and take out a larger long term loan using the savings account as collateral. My monthly income after taxes is approx 2000.00  <response>: Credit builder loans are a bad idea and you should not take the advice of the loan officer because their job is to bilk you for interest. 