Contributor
jnkp2001
Posts: 132
Registered: ‎01-04-2012
I love credit unions!
[ Edited ]

‎10-26-2012 01:22 AM - edited ‎10-26-2012 01:43 AM

went to my local credit union to refi my truck, instant approval @ 5% from 14% with 2 months before my next payment.  AND got a $3000 personal loan at the same time!  Life is good again!:smileyhappy:

 

I guess my question is, does a personal loan to pay down my CC's count toward my utilization?

FICO EQ: 633 8/15/12
lender pulled 11/3/12 EQ 661 TU 650 EX598
credit Karma 674 credit sesame: 663
B/K discharged 2/2006......closed 8/2012

May your limits be high and your balances low!

(661 Views)
 
Regular Contributor
gijoe4500
Posts: 228
Registered: ‎05-12-2010
Re: I love credit unions!

‎10-26-2012 01:42 AM

Personal loans do not count towards your credit card utilization.

Last Hard Pull 09/01/2012
Starting Score: MyFico TU: 621 EQ: 610
Current Score: AmEx EX: 629 Walmart TU: 711 EQ: 699
Goal Score: 700's baby! (made it 4/10/2013!)
New Goal: 740!!

Take the FICO Fitness Challenge
(649 Views)
 
Contributor
jnkp2001
Posts: 132
Registered: ‎01-04-2012
Re: I love credit unions!
[ Edited ]

‎10-26-2012 01:44 AM - edited ‎10-26-2012 01:46 AM

cool!  that will really bump the scores!  Thanks.

FICO EQ: 633 8/15/12
lender pulled 11/3/12 EQ 661 TU 650 EX598
credit Karma 674 credit sesame: 663
B/K discharged 2/2006......closed 8/2012

May your limits be high and your balances low!

(645 Views)
 
Moderator
Moderator
Shogun
Posts: 7,375
Registered: ‎04-15-2011
Re: I love credit unions!

‎10-26-2012 05:10 AM

+1   Revolving accounts don't count util like revolving does.   

Starting Score: 504

Current Score: EQ FICO 819, TU08 775, EX "Who Knows?" Quizzle 756
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
(569 Views)
 
Moderator
Moderator
webhopper
Posts: 6,793
Registered: ‎09-16-2011
Re: I love credit unions!

‎10-26-2012 06:29 AM

jnkp2001 wrote:

cool!  that will really bump the scores!  Thanks.

good move!  I love credit unions also :smileyhappy:

 

Just don't make the mistake of running up Credit Card debt again.   the personal loan will give you another installment tradeline, which will help you later on if you ever finance another car.

 

Great move!

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score (myFico + Amex): April 2013 TU 754 EQ 694 EX 694
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Silver Spade Garden Club Member: App Free since 1/1/13. No more apps til 2014
MyFICO Fitness Goal: 800s Club!


Take the myFICO Fitness Challenge
(530 Views)
 
Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012
Re: I love credit unions!

‎10-26-2012 06:33 AM

Congrats

(523 Views)
 
Regular Contributor
sgs10
Posts: 204
Registered: ‎08-03-2010
Re: I love credit unions!

‎10-26-2012 08:44 AM

Congrats :smileytongue:

(455 Views)
 
Valued Contributor
Jutz
Posts: 1,142
Registered: ‎05-10-2012
Re: I love credit unions!

‎10-26-2012 08:47 AM

Ugh.  I either picked the wrong CU or I talked to the wrong person.  I joined a CU with the intent to build a relationship to get a good auto loan, and eventually a mortgage.  When I asked someone over the phone about auto loans they said they had a 690 minimum score...

Current: EQ FICO 664, TU FICO 683, EX FICO 698 | Starting Score: 525 (05/2012)

Starting total revolving credit: $1100 | Current total revolving credit: $7000

Inquiries (12 Months): EQ 3 TU 2 EX 2 | Most Recent: 1/8/2013


2013 Goals:
New Car
700 Club
AMEX Member

AMEX Gold NPSL
DCU Visa $2000
Cap1 Cash Rewards $2000
BOA Platinum $600
WalMart $800
(445 Views)
 
Established Member
lewdog
Posts: 18
Registered: ‎09-19-2011
Re: I love credit unions!

‎10-26-2012 08:51 AM

+1   Revolving accounts don't count util like revolving does

 

??

PSECU EX FICO 11/3/2012 - 692 -29 Hard Inquiries
Credit Sesame EX 11/2/2012 - 694
Walmart TU FICO 11/8/2012 - 722 - 2 Hard Inquiries
Credit Karma TU 11/8/2012 - 761 -
Equifax CP 11/8/2012 - 696 - 2 Hard Inquiries
Chase Sapphire Preffered 8000 ▌ USAA Amex 9000 ▌ Discover More 3,000 ▐ Cap 1 Platinum 2000▌ Walmart Discover 2000 ▌
(437 Views)
 
Regular Contributor
gijoe4500
Posts: 228
Registered: ‎05-12-2010
Re: I love credit unions!

‎10-26-2012 08:56 AM

lewdog wrote:

+1   Revolving accounts don't count util like revolving does

 

??

Probably just typed it wrong.

 

Installment accounts don't count util like revolving does.

Last Hard Pull 09/01/2012
Starting Score: MyFico TU: 621 EQ: 610
Current Score: AmEx EX: 629 Walmart TU: 711 EQ: 699
Goal Score: 700's baby! (made it 4/10/2013!)
New Goal: 740!!

Take the FICO Fitness Challenge
(430 Views)