06-13-2016 09:40 AM - edited 06-16-2016 04:14 AM
There is no section named "Personal Loans", so if this is the not the correct location, then please feel free to move. Anyway, does anyone have any experience on applying for personal loans - looking for 20-30k. Credit scores are listed in sig, NasaFCU declined, said I opened up too many trade lines. I have 1 app from 2015 and 1 app from 2016, and about 9 from 2014.
So that fact might be a significant factor in this equation. Thanks in advance for any potential help.
06-13-2016 12:27 PM
This stuff is usually in the Personal Finance section, so you can poke around there. I'd check Sofi. I refi'd my student loans with them and have thought about a personal loan with them. Both DH and I got some offers a while ago. Most of what I've read on them have been good re: personal loans. There's one bad report I remember on this forum, but the rest all good. You can get rates via a SP.
Going thru the list I made when I was looking for PLOC and/or PL, the credit unions I considered from hearing them on this board:
DCU might be an option. Their base rate is a bit higher than Nasa IIRC, but you said they're off the table for you. If you're in CA (or maybe they're ok elsewhere) there's the Golden 1 CU. Penfed offers them, but the base rate is higher still.
06-13-2016 08:18 PM
|EX 08 Fico: 729||TU 08 Fico: 735||EQ 08 Fico: 740||Total Credit Line: $128,600||Utilization: 6%||Inquiries:||EX-6||TU-7||EQ-5|
06-14-2016 08:50 AM
Check SoFi.com first for the SP pre-qual. Only a HP if you continue with application.
If you don't know of a local CU that has been great, I recommend PenFed. 1 EQ HP for multiple products. Easy to work with and friendly CSRs.
Good luck and check back in..
06-15-2016 04:10 AM - edited 06-16-2016 04:19 AM
Well just to provide an update, I decided to try out Discover personal loan since I bank with them and have the discover IT. I applied online, then a pop up came up saying we have a rate for you. The pop up, said let us call you to discuss, I hit OK and then received a phone call, so I called the number listed. Rep asked me a few questions, such as what the loan was for. I stated the purpose was for various reasons. The rep mentioned that they can pay payees directly with no cost.
I made it very clear that I wanted the lump sum of 30k and was not interested in Discover managing my payment disbursements. I didn't want their to be problems moving forward. Anyway, he asked about my latest app (1 app in 2015 and 1 app in 2016). Said it was the citi Prestige. I think what he was getting at was the balance. The limit is 26k and I have about a 4k balance. Told him I just charged around 3k to receive the bonus points. Anyway, the rep said that since I was talking to him, that 9 out of 10 ten times the loan would be approved. 1 day went by and I checked the status this morning.
Now, I have yet to call the number, so I have no idea what the APR is or if the full amount and terms are - I requested 84 months. I'll let you fellas know. Discover advertises as low as 6.99%.
06-15-2016 08:04 AM
Hmm, starting to get a little annoyed. After calling into Discover after the above approval notification, the CSR informed me that it was still under review and could take 3-5 business days to complete. CSR stated this was a common occurance, that they see frequently. I am not sure about all of that, but this delay makes me believe the APR is going to be something that is unacceptable.
06-16-2016 04:14 AM
OK another update. When I originally did the online application, it instantly popped up and said we have a rate for you, please hit OK and we will call you. I believe it was then marked as review, because the CSR said he needed to ask me some questions about my report. Anyway, specifically they asked about a HP from NASAFCU marked as installment loan. I told them I was checking rates. Yesteday as I posted - When I checked the application status (after uploading emplyoment verification), it said I was approved and to call for the rate (twice now this has happened). So,when I called yesterday, CSR said it was under review and could take 3-5 business days to complete; they indicated this was a common occurance and could very well be, but I doubt it.
My guy feeling is that they are waiting to see if the NASAFCU installment loan pops up? That sort of makes sense, but then again it could take 30 days for that to hit my report, so at this point I am not really sure for the reason. I am just a little annoyed at the delay after being specifically told by the system I was approved.
06-16-2016 01:38 PM
Ok, another update. I am posting this so in the future, someone that searches for Discover Persona Loans obtains these results so they can review. I checked the status this afternoon and now it states I have been approved. I am not going to call Discover. I am going to wait for an email or a phone call.
So in summary, the site that has the application status link has went from, please upload documents, you have been approved, please call us to complete your application and now back to you have been approved. You got me, crazy system. I would call, but the last time they clearly stated that I would receive a phone call and sort of acted like it should be obvious that it will take 3-5 business days and or that it was still under review.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.