Honestly, D3v, I'd recommend against the loan. As was stated earlier, if you're going to take it out, it should really be for something that's a need rather than a want. If you get in the habit of borrowing cash everytime you want something expensive you'll run a higher risk of hitting the bottom and finding wonderful, wonderful bankruptcy later on.

While it's not a wholly bad idea, it's not something I really think is a good solution to the problem. I mean, right now there's alot of things I want. A new car, new computer, new console...and sure, I could take out a loan and be able to pull it all off, but at the end of the day all that means is that I have one more monthly bill coming in, and 2 things I don't really need (The car is another story, mine is really starting to show it's age, but that's beside the point).

With all that said, it is a good way to build credit, right now mine is nothing too impressive at around 675, but all I've done to build that is one small $2,000 loan, and paying my bills on time. The latter is what you'll notice does a whole lot more for your credit early on than a loan.