Onemainfinancial - formerly citi financial

[pritchardhallhokie]

Has anyone had any dealings with one main financial which used to be citifinancial?  Considering a loan with them, but not sure of their practices and why they would change like they have.

Thanks!

[DI]

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@pritchardhallhokie wrote:

Has anyone had any dealings with one main financial which used to be citifinancial?  Considering a loan with them, but not sure of their practices and why they would change like they have.

Thanks!

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You can take the teeth out of a shark, but its still a shark.  Citifinancial changing its name to Onemainfinancial doesn't make them any less of being a loan shark.

[john398]

This probably should be in a different forum, however I got a letter from them the other day offering me $6,000 I just shreded it

[pritchardhallhokie]

I agree, it should be in a different forum but I couldn't find the appropriate one.

I just wondered if anyone had used them.  I'm considering getting one with them to clear off all my credit card balances and give myself a nice boost in score that way...... just didn't know if anyone had dealt with these guys before.

Thanks

[MarineVietVet]

I think this is a better spot than CC's for this discussion.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

We dealt with Citifinancial for a second mortgage.

Very high interest rates, and as far as FICO scores go, it's a Consumer Finance Company - a long term ding on your credit reports.  (It's a negative factor for as long as it's on the reports - which is as long as it's open plus ten years).

After we paid them off (somewhat early thankfully) we had paid a boatload of interest.  And they mailed us lots of offers to do further business with them.  We just couldn't afford their terms.  They all landed in the shredder.

Maybe consider a debt snowball approach?  or getting funds through someone who will cost you less?  Selling whatever you can for cash?  A short-term second job to pay off the Cc's? 

[Anomalous]

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@john398 wrote:

This probably should be in a different forum, however I got a letter from them the other day offering me $6,000 I just shreded it

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I received a letter from them today with the same exact offer. It's junk mail to me.

[GB44]

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@pritchardhallhokie wrote:

Has anyone had any dealings with one main financial which used to be citifinancial?  Considering a loan with them, but not sure of their practices and why they would change like they have.

Thanks!

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Shred the offers that they send you! The interest is higher compared to a CU. Not sure what your credit report looks like, but if you are worried about utilization, then save up the money and pay down your revolving debt......you'll be glad you did and not have to worry about a 4 year payment.