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Regular Contributor
Posts: 135
Registered: ‎01-04-2012
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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
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Registered: ‎05-12-2010
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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
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New Goal: 740!!


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Regular Contributor
Posts: 135
Registered: ‎01-04-2012
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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
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Registered: ‎04-15-2011
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Re: I love credit unions!

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



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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
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Established Contributor
Posts: 1,837
Registered: ‎08-20-2012
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Re: I love credit unions!

Congrats

Regular Contributor
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Registered: ‎08-03-2010
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Re: I love credit unions!

Congrats :smileytongue:

Valued Contributor
Posts: 1,228
Registered: ‎05-10-2012
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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 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
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Established Member
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Registered: ‎09-19-2011
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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
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Regular Contributor
Posts: 233
Registered: ‎05-12-2010
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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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