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Just wondering if anyone has received a personal loan lately either from a big bank or CU? What were your scores or did you have any negatives on your reports and approved?
I am going to need to apply for a loan soon for some auto repairs and I don't have enough credit on my CCs to charge the repairs to. Just wanted to know what your experiences were. Any help is appreciated, thanks!
Someone posted a credit card that has 0% for 1 year on car repair. I will look for it and post it if I find it.
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copy/paste from my 2012 credit challenge journal. The two red entries are from a personal loan and motorcycle loan from my CU. They even used the same CR for both loan approvals. At the time of this entry, I don't believe (without reading through earlier entries) I had any GW success other than Amex. So at this point I had a repo, a 30 day, and 3 collections at time of loan(s) approval.
4/4/2012 Was able to get a 1k loan @ 9%. Was placed into my savings account and the monthly payments will be drawn each month on the 15th. 1 year loan and we’ll re-app for another 12mo. Loan at the end of this one, so that a revolving debt remains active on file. MyFICO for TU was 664, the CU pulled TU and it came back 627. MyFICO for EQ was 617, the CU pulled EQ and it came back 627.
4/4/2012 App, which resulted in a HP of both EQ and TU. Not yet sure on approval. Was for $1500 CL.
4/4/2012 Lady from Comcast advised that they will not be able to remove collection from CRs.
4/5/2012 USAA CMS alerted me to TU pull from yesterday.
4/5/2012 Gentlemen from Brighthouse networks called back, just as the lady from comast just above, to advise they were not allowed to remove the neg. TL.
4/6/2012 Sent out GW letter to Bright House Pres. Sent out dispute letter to CPA for Bright House acct.
4/7/2012 EQ FICO score up to 635 and SW says it has to do with a 30day either not found or missing
4/8/2012 Received a call from Brighthouse Networks Corp. office in Syracuse NY. Nice lady wanted to verify my info, so she could further help.
4/10/2012 Received a call from the same gentlemen from BHN. Apparently the lady from NY contacted him, not knowing him and I had already spoken. He wanted to make sure he addressed my concern in our previous talks. That’s why I sent the letter to the CEO; he didn’t address my concerns to the fullest. But alas, no GW removal.
4/16/12 MyFICO alert – EQ FICO dropped down from 635 to 624
4/18/12 Applied through my local CU for a motorcycle loan. (Instead of their CC). App’d for 10k, they came back with an offer of $8500 + 10% of my own monies or $850. I found a bike for $3500, so hoping for 100% financing on it, so I can pick it up today.
Thank you Shining Down and Repo-ed for your responses. The nationwide credit card sounds pretty cool since you get 0% APR for automobile repair purchases which is what I need. However don't think I may get approved since currently I have been turned down by most big banks or may even get the the credit limit I may need.
What about credit unions? Do they seem to be more willing to lend you a loan with poor credit in most cases? I applied for a membership at a local CU and I am currently waiting for approval to join.
You may also want to look into the peer to peer lending sites such as Prosper and Lending Club. They do have their minimum credit requirements posted on the site but they are more lenient than most banks and credit unions. And it is a positive tradeline if you secure a loan. At least on Prosper they report to two of the three bureaus.
I am assuming you have some challenges in your credit files due to your statement of being unable to secure a useful credit line from the big banks.
@dude11 wrote:What about credit unions? Do they seem to be more willing to lend you a loan with poor credit in most cases? I applied for a membership at a local CU and I am currently waiting for approval to join.
Yes, IMHO.
I got a personal loan from my CU last month...TU in the 630's, lots of inquiries, but NO baddies.
Good luck!
Yeah I've had some trouble in the past. A few COs that won't drop till 2015 and one in 2016. Scores I believe are in the low 600s possibly mid 600s the highest. Lots of inquiries EQ being the worse. I have looked into both Prosper and Lending Club but I have read on few different sites that they don't loan out to as many people as you think. Don't know how true that is.
Any one have experience with these websites?
I so wish I had kept a journal like this!!!!! I would love to look back and see my steps. It might would help in times if frustration, which seems to be plentiful at the end.
@Repo-ed wrote:copy/paste from my 2012 credit challenge journal. The two red entries are from a personal loan and motorcycle loan from my CU. They even used the same CR for both loan approvals. At the time of this entry, I don't believe (without reading through earlier entries) I had any GW success other than Amex. So at this point I had a repo, a 30 day, and 3 collections at time of loan(s) approval.
@4/4/2012 Was able to get a 1k loan @ 9%. Was placed into my savings account and the monthly payments will be drawn each month on the 15th. 1 year loan and we’ll re-app for another 12mo. Loan at the end of this one, so that a revolving debt remains active on file. MyFICO for TU was 664, the CU pulled TU and it came back 627. MyFICO for EQ was 617, the CU pulled EQ and it came back 627.
4/4/2012 App, which resulted in a HP of both EQ and TU. Not yet sure on approval. Was for $1500 CL.
4/4/2012 Lady from Comcast advised that they will not be able to remove collection from CRs.
4/5/2012 USAA CMS alerted me to TU pull from yesterday.
4/5/2012 Gentlemen from Brighthouse networks called back, just as the lady from comast just above, to advise they were not allowed to remove the neg. TL.
4/6/2012 Sent out GW letter to Bright House Pres. Sent out dispute letter to CPA for Bright House acct.
4/7/2012 EQ FICO score up to 635 and SW says it has to do with a 30day either not found or missing
4/8/2012 Received a call from Brighthouse Networks Corp. office in Syracuse NY. Nice lady wanted to verify my info, so she could further help.
4/10/2012 Received a call from the same gentlemen from BHN. Apparently the lady from NY contacted him, not knowing him and I had already spoken. He wanted to make sure he addressed my concern in our previous talks. That’s why I sent the letter to the CEO; he didn’t address my concerns to the fullest. But alas, no GW removal.
4/16/12 MyFICO alert – EQ FICO dropped down from 635 to 624
4/18/12 Applied through my local CU for a motorcycle loan. (Instead of their CC). App’d for 10k, they came back with an offer of $8500 + 10% of my own monies or $850. I found a bike for $3500, so hoping for 100% financing on it, so I can pick it up today.
@CC40 wrote:I so wish I had kept a journal like this!!!!! I would love to look back and see my steps. It might would help in times if frustration, which seems to be plentiful at the end.
@Repo-ed wrote:copy/paste from my 2012 credit challenge journal. The two red entries are from a personal loan and motorcycle loan from my CU. They even used the same CR for both loan approvals. At the time of this entry, I don't believe (without reading through earlier entries) I had any GW success other than Amex. So at this point I had a repo, a 30 day, and 3 collections at time of loan(s) approval.
@4/4/2012 Was able to get a 1k loan @ 9%. Was placed into my savings account and the monthly payments will be drawn each month on the 15th. 1 year loan and we’ll re-app for another 12mo. Loan at the end of this one, so that a revolving debt remains active on file. MyFICO for TU was 664, the CU pulled TU and it came back 627. MyFICO for EQ was 617, the CU pulled EQ and it came back 627.
4/4/2012 App, which resulted in a HP of both EQ and TU. Not yet sure on approval. Was for $1500 CL.
4/4/2012 Lady from Comcast advised that they will not be able to remove collection from CRs.
4/5/2012 USAA CMS alerted me to TU pull from yesterday.
4/5/2012 Gentlemen from Brighthouse networks called back, just as the lady from comast just above, to advise they were not allowed to remove the neg. TL.
4/6/2012 Sent out GW letter to Bright House Pres. Sent out dispute letter to CPA for Bright House acct.
4/7/2012 EQ FICO score up to 635 and SW says it has to do with a 30day either not found or missing
4/8/2012 Received a call from Brighthouse Networks Corp. office in Syracuse NY. Nice lady wanted to verify my info, so she could further help.
4/10/2012 Received a call from the same gentlemen from BHN. Apparently the lady from NY contacted him, not knowing him and I had already spoken. He wanted to make sure he addressed my concern in our previous talks. That’s why I sent the letter to the CEO; he didn’t address my concerns to the fullest. But alas, no GW removal.
4/16/12 MyFICO alert – EQ FICO dropped down from 635 to 624
4/18/12 Applied through my local CU for a motorcycle loan. (Instead of their CC). App’d for 10k, they came back with an offer of $8500 + 10% of my own monies or $850. I found a bike for $3500, so hoping for 100% financing on it, so I can pick it up today.
Ya, it's been a great source of motivation. It's never to late to start now, unless you've already fully rebuilt or just waiting for last items to fall-off.