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Adding an installment loan -- the Share Secure technique

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Anonymous
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Re: Adding an installment loan -- the Share Secure technique


@Anonymous wrote:

I think there might be some confusion on how to delete the automatic payment (and admittedly, I was confused first too). If you are on your accounts overview page and click on "Options" next to your loan and "Manage Automatic Payment", then indeed it'll tell you to call (I had the same problem). But if you go to "Transfers" instead and select "Scheduled Transfers", then there you should be able to delete the scheduled transfers from your savings account to the loan (at least it allowed me to do this before my first transfer was scheduled to go through).


 

Why you no tell me earlier?! Haha. 

Maybe add this to the procedure to help others?

Message 1081 of 1,921
Anonymous
Not applicable

Re: Adding an installment loan -- the Share Secure technique


@Anonymous wrote:

@Anonymous wrote:

I think there might be some confusion on how to delete the automatic payment (and admittedly, I was confused first too). If you are on your accounts overview page and click on "Options" next to your loan and "Manage Automatic Payment", then indeed it'll tell you to call (I had the same problem). But if you go to "Transfers" instead and select "Scheduled Transfers", then there you should be able to delete the scheduled transfers from your savings account to the loan (at least it allowed me to do this before my first transfer was scheduled to go through).


 

Why you no tell me earlier?! Haha. 

Maybe add this to the procedure to help others?


 

Hi Totoro.  You ask that we change the guidance so that it tells the reader to do what our friend Petepe says (in blue above).  But what he tells you to do is in fact also what the guidance says.  Here is the relevant text from the guidance:

 

Next you want to locate the Autopay that was set up by the loan officer.  To do that, go to the TRANSFER MONEY tab at the top of the page.  Then look to the far right margin.  You will see several links.  Look for the one that says Scheduled Transfers.  Click on that.  You will be taken to a page that shows an automated transfer from the Savings account to the Loan account.

 

Then, later in the guidance, when the time is right for the manual deletion to go through, it asks you to locate that Autopay again and click delete.

 

Glad you got your autopay deleted.  Best of luck...

Message 1082 of 1,921
601flyguy
Established Contributor

Re: Adding an installment loan -- the Share Secure technique

I opened a $500 ssl on 5/17
Received call from them the same day.
First scheduled payment set up for 6/1
Immediately paid the loan down to $44
I tried to delete the automatic payment a few times between the 17th and the 31st with no luck, red message.
Automatic payment was successfully deleted on 5/31 around 11:30pm cst.
Automatic payment info still shows but i also see a message asking me to update my automatic payment info.
As of 6/2 my first automatic payment scheduled for 6/1 has not happened
2019 Spend Summary
$944,008 Amex BRG
$91,953 Amex SC
$58,351 Discover It
$50,046 BofA CR
$36,146 Amex PRG
$6,774 Cap1 QS
$963 Amex CM

$1,188,241 Yearly Spend
Message 1083 of 1,921
Anonymous
Not applicable

Re: Adding an installment loan -- the Share Secure technique

My first scheduled payment was for 5/30 -- I deleted the transfer on 5/27 successfully and it did NOT autopay, just like yours.

 

Has your new account reported to any of the CRAs yet?  I know they say usually the first week but some folks said it posted the first day of the month.  Mine hasn't reported yet.

Message 1084 of 1,921
Anonymous
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Re: Adding an installment loan -- the Share Secure technique

excellent write-up and thread!

 

i tried opening a savings account on memorial day with them, but i received the 'pending membership' reply. kind of rolled my eyes and figured they'd get back to me in the next couple of days like they said. by thursday afternoon, i was still waiting though. so i sent them a message via their site. now it's friday afternoon and i still haven't heard anything. i'm getting a little pissed!

 

i don't have any calls from them and nothing is in my junk/spam folder. i absolutely HATE making business related calls. plus i'm trying to follow the point mentioned here of not calling them period.. so i'm just sitting here waiting.

 

has anyone else had similar issues? i'm wondering if maybe they sent me the approval or notice in the mail and i have to wait another week.

Message 1085 of 1,921
Anonymous
Not applicable

Re: Adding an installment loan -- the Share Secure technique


@Anonymous wrote:

excellent write-up and thread!

 

i tried opening a savings account on memorial day with them, but i received the 'pending membership' reply. kind of rolled my eyes and figured they'd get back to me in the next couple of days like they said. by thursday afternoon, i was still waiting though. so i sent them a message via their site. now it's friday afternoon and i still haven't heard anything. i'm getting a little pissed!

 

i don't have any calls from them and nothing is in my junk/spam folder. i absolutely HATE making business related calls. plus i'm trying to follow the point mentioned here of not calling them period.. so i'm just sitting here waiting.

 

has anyone else had similar issues? i'm wondering if maybe they sent me the approval or notice in the mail and i have to wait another week.


Feel free to give them a call.  You are not calling them about the SS loan -- you are just following up about attempting to join the credit union itself.  Our "Don't Call The Bank" advice (which is also the title of a great article at Doctor of Credit) is really about making calls related to the SS loan application or other issues related to it.

 

A helpful takeaway from this is to avoid making applications for anything at any institution on a holiday or weekend if you think there might be a manual review.  It can sometimes cause the app to go onto a waiting list and then it takes a while to get them to see it.

Message 1086 of 1,921
Anonymous
Not applicable

Re: Adding an installment loan -- the Share Secure technique


@Anonymous wrote:

My first scheduled payment was for 5/30 -- I deleted the transfer on 5/27 successfully and it did NOT autopay, just like yours.

 

Has your new account reported to any of the CRAs yet?  I know they say usually the first week but some folks said it posted the first day of the month.  Mine hasn't reported yet.


 

Hello ABCD!  Thanks for being so helpful.

 

Just as a slight caveat, I am virtually certain that your loan has reported.  Thus far I don't think anyone has seen a "Date Reported" (once the record finally gets updated in the CRA database) that is anything different from the last day of the month.  It appears that Alliant always reports its loans on that day. 

 

What can often take a good deal of time is for the CRA to update its database with the reported data.  Most crucially it appears to be a variable about of time.  Almost like you are playing D&D and the Dungeonmaster has to roll a six sided die to determine the number of buisness days.  CRA X may do it faster one month than CRA Y.  Then it is flipped the next month.  Just seems random.

Message 1087 of 1,921
Anonymous
Not applicable

Re: Adding an installment loan -- the Share Secure technique

Yep I agree, that's very likely.  The thing is, I app'd for a Chase FU on May 31st, inquiry appeared literally 6 seconds after the app on CreditCheckTotal and WalletHub, inquiry showed a MyFico alerty today (48 hours later).  Also app'd for Amazon Store the same time, inquiry instant on CCT and WalletHub, hasn't appeared on MyFico.  The Amazon store card reported less than 24 hours later to CCT and WalletHub and hasn't appeared on MyFico yet.

 

So CCT is reporting new accounts almost instantly for me.  MyFico is generally 3-8 days behind CCT on many things but I assume CCT will ding me quickly when the Alliant loan makes it through the CRAs jungle of mess.  Still, seeing the Amazon store card report ridiculously fast leads me to believe there's more going on between the creditor, the CRAs and the monitoring pulls.

 

I'm anxious for it to report since nothing else will change this month and it'll be a good data point.

Message 1088 of 1,921
Anonymous
Not applicable

Re: Adding an installment loan -- the Share Secure technique


@Anonymous wrote:

@Anonymous wrote:

excellent write-up and thread!

 

i tried opening a savings account on memorial day with them, but i received the 'pending membership' reply. kind of rolled my eyes and figured they'd get back to me in the next couple of days like they said. by thursday afternoon, i was still waiting though. so i sent them a message via their site. now it's friday afternoon and i still haven't heard anything. i'm getting a little pissed!

 

i don't have any calls from them and nothing is in my junk/spam folder. i absolutely HATE making business related calls. plus i'm trying to follow the point mentioned here of not calling them period.. so i'm just sitting here waiting.

 

has anyone else had similar issues? i'm wondering if maybe they sent me the approval or notice in the mail and i have to wait another week.


Feel free to give them a call.  You are not calling them about the SS loan -- you are just following up about attempting to join the credit union itself.  Our "Don't Call The Bank" advice (which is also the title of a great article at Doctor of Credit) is really about making calls related to the SS loan application or other issues related to it.

 

A helpful takeaway from this is to avoid making applications for anything at any institution on a holiday or weekend if you think there might be a manual review.  It can sometimes cause the app to go onto a waiting list and then it takes a while to get them to see it.


thanks for the advice. i wound up calling a few minutes ago and the first question was "ok, i need your FULL social."

 

click.

 

i know it's not a big deal these days, but i'm not about to start passing it on to phone jockeys as well. if they don't get back to me, then they don't. i'll just find something else. thanks again for the help.

Message 1089 of 1,921
Anonymous
Not applicable

Re: Adding an installment loan -- the Share Secure technique

Thank you for this thread. It took me three days to read each post. Now I'm pretty eager to do this. I am gardening so this will put me back to beginning. So I am going to probably do in July.  Going to reread the initial posts a few times and make sure I totally understand it. I will report back when I do it my results.  Thank you again for all this info. 

Message 1090 of 1,921
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