Credit Cards

[jnkp2001]

went to my local credit union to refi my truck, instant approval @ 5% from 14% with 2 months before my next payment.  AND got a $3000 personal loan at the same time!  Life is good again!

I guess my question is, does a personal loan to pay down my CC's count toward my utilization?

[gijoe4500]

Personal loans do not count towards your credit card utilization.

[jnkp2001]

cool!  that will really bump the scores!  Thanks.

[Shogun]

+1   Revolving accounts don't count util like revolving does.   

[webhopper]

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jnkp2001 wrote:

cool!  that will really bump the scores!  Thanks.

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good move!  I love credit unions also

Just don't make the mistake of running up Credit Card debt again.   the personal loan will give you another installment tradeline, which will help you later on if you ever finance another car.

Great move!

[Cadillac-XTS]

Congrats

[sgs10]

Congrats 

[Jutz]

Ugh.  I either picked the wrong CU or I talked to the wrong person.  I joined a CU with the intent to build a relationship to get a good auto loan, and eventually a mortgage.  When I asked someone over the phone about auto loans they said they had a 690 minimum score...

[lewdog]

+1   Revolving accounts don't count util like revolving does

??

[gijoe4500]

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lewdog wrote:

+1   Revolving accounts don't count util like revolving does

??

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Probably just typed it wrong.

Installment accounts don't count util like revolving does.