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Regular Contributor
jnkp2001
Posts: 135
Registered: ‎01-04-2012

I love credit unions!

[ Edited ]

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!:smileyhappy:

 

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

FICO EQ: 633 8/15/12
lender pulled 11/3/12 EQ 661 TU 650 EX598
credit Karma 674 credit sesame: 663
B/K discharged 2/2006......closed 8/2012

May your limits be high and your balances low!

Regular Contributor
gijoe4500
Posts: 232
Registered: ‎05-12-2010

Re: I love credit unions!

Personal loans do not count towards your credit card utilization.

Last Hard Pull 05/24/2013

Starting Score: MyFico TU: 621 EQ: 610
Current Score: AmEx EX: 700 Walmart TU: 711 EQ: 699
Goal Score: 700's baby! (made it 4/10/2013!)
New Goal: 740!!


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Regular Contributor
jnkp2001
Posts: 135
Registered: ‎01-04-2012

Re: I love credit unions!

[ Edited ]

cool!  that will really bump the scores!  Thanks.

FICO EQ: 633 8/15/12
lender pulled 11/3/12 EQ 661 TU 650 EX598
credit Karma 674 credit sesame: 663
B/K discharged 2/2006......closed 8/2012

May your limits be high and your balances low!

Moderator
Shogun
Posts: 12,890
Registered: ‎04-15-2011

Re: I love credit unions!

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


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: I love credit unions!


jnkp2001 wrote:

cool!  that will really bump the scores!  Thanks.


good move!  I love credit unions also :smileyhappy:

 

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!


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
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Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012

Re: I love credit unions!

Congrats

Regular Contributor
sgs10
Posts: 204
Registered: ‎08-03-2010

Re: I love credit unions!

Congrats :smileytongue:

Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012

Re: I love credit unions!

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...

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
Capital One QS $2000
AMEX BCE $1000
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Established Member
lewdog
Posts: 18
Registered: ‎09-19-2011

Re: I love credit unions!

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

 

??

PSECU EX FICO 11/3/2012 - 692 -29 Hard Inquiries
Credit Sesame EX 11/2/2012 - 694
Walmart TU FICO 11/8/2012 - 722 - 2 Hard Inquiries
Credit Karma TU 11/8/2012 - 761 -
Equifax CP 11/8/2012 - 696 - 2 Hard Inquiries
Chase Sapphire Preffered 8000 ▌ USAA Amex 9000 ▌ Discover More 3,000 ▐ Cap 1 Platinum 2000▌ Walmart Discover 2000 ▌
Regular Contributor
gijoe4500
Posts: 232
Registered: ‎05-12-2010

Re: I love credit unions!


lewdog wrote:

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

 

??


Probably just typed it wrong.

 

Installment accounts don't count util like revolving does.

Last Hard Pull 05/24/2013

Starting Score: MyFico TU: 621 EQ: 610
Current Score: AmEx EX: 700 Walmart TU: 711 EQ: 699
Goal Score: 700's baby! (made it 4/10/2013!)
New Goal: 740!!


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