topic Re: Apped for SoFi Personal Loan score went up 20 points!? in General Credit Topics

Apped for SoFi Personal Loan score went up 20 points!?

thisladyz — Sat, 09 Jul 2016 14:42:15 GMT

So I applied for a personal loan with this SoFi company after reading on the forum that folks had good experiences with them. Got a notification after they pulled my credit and my Experian jumped 20 points! I'm not mad at that but has anyone else had that happen?

Re: Apped for SoFi Personal Loan score went up 20 points!?

CreditCuriosity — Sat, 09 Jul 2016 14:44:32 GMT

It wasn't the application or inquiry that did this it was the event that triggered an update to your score as only a few events do this. So in reality your score was already higher, but just wasn't updated yet.

Re: Apped for SoFi Personal Loan score went up 20 points!?

Appleman — Sat, 09 Jul 2016 14:45:02 GMT

If you have not applied for credit for some time there is the potential for getting an increase in a score. 20 points is quite a jump for taking on an inquiry.

Congrats!

Re: Apped for SoFi Personal Loan score went up 20 points!?

Appleman — Sat, 09 Jul 2016 14:46:55 GMT

Although, what Curiosity said makes a bit more sense!

Re: Apped for SoFi Personal Loan score went up 20 points!?

thisladyz — Sat, 09 Jul 2016 15:15:19 GMT

Makes sense, I guess. But Experian was the only one that changed. My TU and EQ are still the same, or maybe they have not updated yet....thanks for the insight!!

Re: Apped for SoFi Personal Loan score went up 20 points!?

Anonymous — Sun, 10 Jul 2016 16:14:04 GMT

+1 the score have updated yet. Now, if you're using that loan to pay off a few cards, you'll enjoy another increase, as a personal structured loan scores better than a bunch of credit cards even if the debt is the same.

Re: Apped for SoFi Personal Loan score went up 20 points!?

RonM21 — Mon, 11 Jul 2016 09:26:35 GMT

More than likely, the others not updating is what happened, and what CreditCuriousity said is correct.

Re: Apped for SoFi Personal Loan score went up 20 points!?

thisladyz — Wed, 20 Jul 2016 19:58:42 GMT

@thisladyz wrote:
So I applied for a personal loan with this SoFi company after reading on the forum that folks had good experiences with them. Got a notification after they pulled my credit and my Experian jumped 20 points! I'm not mad at that but has anyone else had that happen?

@Anonymous today I get an email from SoFi that my loan has funded and the funds would be in my account in a couple of days! Come home and check my account and the funds are there!!!! They approved mr for a personal loan for $45k @ 5.9% for 5 years payments about $867 mo.! So happy!

Definitely going in the garden now until about 2019! LOL

Re: Apped for SoFi Personal Loan score went up 20 points!?

Anonymous — Thu, 21 Jul 2016 04:59:42 GMT

Thats an awesome rate for a personal loan!! Congrats!!

Re: Apped for SoFi Personal Loan score went up 20 points!?

thisladyz — Thu, 21 Jul 2016 20:21:31 GMT

@Anonymous wrote:
Thats an awesome rate for a personal loan!! Congrats!!

Thanks, I know right? I was going to get one with my CU and even they were quoting a 9.5%! I said, SoFi, here I come!

Re: Apped for SoFi Personal Loan score went up 20 points!?

Anonymous — Thu, 21 Jul 2016 21:08:39 GMT

PenFed's Lowest is 9.99 so considering you were in the 5's thats AWESOME!! Except the fact of having to pay origination fees...

@thisladyz wrote:
@Anonymous wrote:
Thats an awesome rate for a personal loan!! Congrats!!
Thanks, I know right? I was going to get one with my CU and even they were quoting a 9.5%! I said, SoFi, here I come!

Re: Apped for SoFi Personal Loan score went up 20 points!?

thisladyz — Fri, 22 Jul 2016 01:40:04 GMT

@Anonymous wrote:
PenFed's Lowest is 9.99 so considering you were in the 5's thats AWESOME!! Except the fact of having to pay origination fees...
@thisladyz wrote:
@Anonymous wrote:
Thats an awesome rate for a personal loan!! Congrats!!
Thanks, I know right? I was going to get one with my CU and even they were quoting a 9.5%! I said, SoFi, here I come!

I didn't even look at Pen Fed, I just got my account and cards with them recently so I didn't want to push my luck. lol

Re: Apped for SoFi Personal Loan score went up 20 points!?

Anonymous — Fri, 22 Jul 2016 18:15:18 GMT

Wow that's nice! can you share your stats? any baddies? # of inquiries?

Re: Apped for SoFi Personal Loan score went up 20 points!?

thisladyz — Sat, 23 Jul 2016 00:03:00 GMT

@Anonymous wrote:
Wow that's nice! can you share your stats? any baddies? # of inquiries?

Income $165k+, 2 auto loans, 2 mortgages, cards and scores in siggy, I was discharged CH13 BK back in Sept 2014 after filing in 2009, no lates or anything since then, just rebuilding. Utilization is real low, I carry a small balance on one of my 0% interest cards (less than $5k) and pay everythng else in full. The turning point really came this past May when my public record finally fell off of my EQ report. EX & TU had already given me a EE so those scores were always higher. Once that EQ fell off.... it was uphill from there!

After getting this loan I wanted to have another type of loan and increase my available credit, so I'll be in the garden as they say, for a good while. lol Just try to grow my limits and my score.

Re: Apped for SoFi Personal Loan score went up 20 points!?

thisladyz — Sat, 23 Jul 2016 00:04:29 GMT

@thisladyz wrote:
@Anonymous wrote:
Wow that's nice! can you share your stats? any baddies? # of inquiries?
Income $165k+, 2 auto loans, 2 mortgages, cards and scores in siggy, I was discharged CH13 BK back in Sept 2014 after filing in 2009, no lates or anything since then, just rebuilding. Utilization is real low, I carry a small balance on one of my 0% interest cards (less than $5k) and pay everythng else in full. The turning point really came this past May when my public record finally fell off of my EQ report. EX & TU had already given me a EE so those scores were always higher. Once that EQ fell off.... it was uphill from there!

After getting this loan I wanted to have another type of loan and increase my available credit, so I'll be in the garden as they say, for a good while. lol Just try to grow my limits and my score.

Oh, I have 11 inqs on EQ, 23 on EX and 15 on TU

Re: Apped for SoFi Personal Loan score went up 20 points!?

Anonymous — Sat, 23 Jul 2016 03:41:41 GMT

@thisladyz wrote:
@thisladyz wrote:
@Anonymous wrote:
Wow that's nice! can you share your stats? any baddies? # of inquiries?
Income $165k+, 2 auto loans, 2 mortgages, cards and scores in siggy, I was discharged CH13 BK back in Sept 2014 after filing in 2009, no lates or anything since then, just rebuilding. Utilization is real low, I carry a small balance on one of my 0% interest cards (less than $5k) and pay everythng else in full. The turning point really came this past May when my public record finally fell off of my EQ report. EX & TU had already given me a EE so those scores were always higher. Once that EQ fell off.... it was uphill from there!

After getting this loan I wanted to have another type of loan and increase my available credit, so I'll be in the garden as they say, for a good while. lol Just try to grow my limits and my score.
Oh, I have 11 inqs on EQ, 23 on EX and 15 on TU

Thank you for all the infos! unfortunately, I only had 1 mortgage and that was 11 years ago and we already paid off the house. My car is also paid in full because I could never get credit from my student loans mess. Anyway, I dont have any real installment loans ;( ohh I was hoping to get a PL too just to have it lol!