topic Re: First Tech Personal Loan denied in Personal Finance

First Tech Personal Loan denied

843dk5u39mcf — Sat, 28 Dec 2024 04:45:11 GMT

Hard pulled Experian 740 F9

Denied for BK and too many inquiries (5 last 12 months).

4/24, 2/12 new accounts.

39K cash in the account.

Automatic decline.

On second review, Underwriter stated they were keeping the original decision. And don't look at banking relationship, decision purely credit based.

Re: First Tech Personal Loan denied

GZG — Sat, 28 Dec 2024 09:40:49 GMT

@843dk5u39mcf wrote:
Hard pulled Experian 740 F9
Denied for BK and too many inquiries (5 last 12 months).
4/24, 2/12 new accounts.
39K cash in the account.
Automatic decline.
On second review, Underwriter stated they were keeping the original decision. And don't look at banking relationship, decision purely credit based.

sorry about the denial, shame they don't consider banking relationship, not very tech of them IMO

Re: First Tech Personal Loan denied

CreditCuriosity — Sat, 28 Dec 2024 13:09:40 GMT

Sorry for denial but I guess asking a question if 39k in cash in account why did you need a personal loan and what amount were you asking for? Likely the BK was your biggest hindering poimt on that being approved.

Re: First Tech Personal Loan denied

TrapLine — Mon, 30 Dec 2024 20:26:34 GMT

Going back several years, I considered trying to become a member. There was much discussion on this site about First Tech.

End result was, they were strict and picky. Do not remember the reasons. Does seem like I recall too many new credit bureau inquiries was one of them. I did not apply.

Re: First Tech Personal Loan denied

Realist — Wed, 01 Jan 2025 15:19:04 GMT

Good luck on your next attempt to secure a loan.

Re: First Tech Personal Loan denied

Pppoolboy — Mon, 06 Jan 2025 07:58:59 GMT

First Tech is terrible. Not only are they "picky," as you point out, they don't follow through with their word. They offered $300 for a direct deposit so I moved a DD to them, hit the account with $500 and they never paid out. I then closed all my accounts.