NFCU Checking LOC, Personal Loan, Qualification?

[Anonymous]

Hi Everyone. First post in the forum and let me say this site has been a world of help.

About 10 days ago I was approved for a NFCU Rewards Visa with a credit limit of $18k. I was considering applying for their checking LOC or a personal loan for consolidation. I have been clean for 3 years, but do have a string of collections I'm working on pay for deletion, closing 1 open public record, and working towards a home purchase. Anyway, that's another post for another day.

Here are my current FICO scores. Wanted to get everyone's thoughts on potential approval for the LOC or personal loan considering they just approved me for a 18k Visa. And opinion on using the checking LOC or personal loan pay off all debts and repay it over 90 days to capture some points. Thanks!

656 Equifax, 639 Transunion, 649 Experian

[Anonymous]

---

@Anonymous wrote:
Hi Everyone. First post in the forum and let me say this site has been a world of help.

About 10 days ago I was approved for a NFCU Rewards Visa with a credit limit of $18k. I was considering applying for their checking LOC or a personal loan for consolidation. I have been clean for 3 years, but do have a string of collections I'm working on pay for deletion, closing 1 open public record, and working towards a home purchase. Anyway, that's another post for another day.

Here are my current FICO scores. Wanted to get everyone's thoughts on potential approval for the LOC or personal loan considering they just approved me for a 18k Visa. And opinion on using the checking LOC or personal loan pay off all debts and repay it over 90 days to capture some points. Thanks!

656 Equifax, 639 Transunion, 649 Experian

---

Welcome to the forums. Usually people have had success in getting approved for the LOC after CC approval but you won't know for sure until you actually apply. As for your question about paying off debts it's really dependent on the size of your existing debt, what interest rate they have, etc. In other words, more info needed.

[jbsea]

I agree with what Irish said.  But if you do have the choice between the two, I would do a personal loan so that it does not affect your utl.