Holiday Personal Loans?

Stephen_Dashman · ‎01-11-2013

I've seen Genisys CU (I'm sure some other CU's do this also) offering 7.75% starting unsecured holiday personal loans about a percent less than their regular personal loans, and was just wondering if this would happen to show up any different on a credit report from a regular loan and if so would it be deemed a little riskier in other creditors' eyes until it's paid off. Thank ya much to anyone with a little feedback

pizzadude · ‎01-11-2013

I don't believe that it would make any difference if the loan is a "holiday" reduced rate loan or not ~ pretty sure that it would look the same on your reports either way.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX

bettercreditguy1 · ‎01-12-2013

Loans must be categorized so as to validate the reason for the credit pull. This protects you from un authorized pulls as well.

Updated scores 3/7/21 TU 849, EQ 829, Ex 818 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience

Stephen_Dashman · ‎01-13-2013

Yeah it would probably be just the CU listed with 'installment loan' noted. Haven't taken out a personal loan before but was just wondering unsecured personal loan vs. unsecured holiday personal loan if it would show up any different. Thank you for all the help.