Trying to rebuild my credit..will this work?

I am trying to rebuild my credit and I have an idea but I don't know if it will work. If I open up a personal loan for like 100-200$ and then keep the money they give me and pay it all off the next month with that plus a couple bucks interest, will that help me out at all? What about if it is a joint account, will it help out both parties' credit or just one? Thanks!