Moderator Emeritus
Posts: 13,356
Registered: ‎12-30-2011
Re: installment loan?

+1 to what CnC posted.

 

Most CU's and also some other institutions (USAA / Wells Fargo) will offer this service and I highly recommend it.  CU loan limits are around 1K typically though I believe there was a $500 one floating around, USAA is 2.5K and Wells is 3K last I checked.

 

Personally I went with USAA's as it was directly tied to a CD and I could specify the term on it, I wanted longer than a year that some of the other secured loans do.  It was a straight benefit to my credit report, but I only had one other installment loan ever on my report, if you have a thicker file with regards to installment loans, it likely won't be as beneficial.

 

Also, moving this post Smiley Happy.

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