topic Re: USAA Career Starter Loan / Improve or decline credit score in Rebuilding Your Credit

USAA Career Starter Loan / Improve or decline credit score

Anonymous — Sun, 13 Dec 2015 23:47:43 GMT

As of now, my credit score is 730ish..I have recently been approved for the USAA Career Starter Loan which is $25,0000 with an APR of 2.99%. I plan to use this loan strictly for investment purposes only (i.e. brokerage accounts/mutual funds). My question is, once I accept this loan, will my credit score improve or decline ?

Re: USAA Career Starter Loan / Improve or decline credit score

Bankrupt2019 — Mon, 14 Dec 2015 00:36:15 GMT

what does your credit file look like? accounts/balances/ any derogs?

Re: USAA Career Starter Loan / Improve or decline credit score

Anonymous — Mon, 14 Dec 2015 00:57:19 GMT

A I do not have anything derogatory, but I do not have a long history of having credit and don't have too many accounts. However, I havent missed or been late aon paying ccounts, and I've limited the use of revolving credit....

Re: USAA Career Starter Loan / Improve or decline credit score

darwin_wins — Tue, 15 Dec 2015 03:44:04 GMT

When you say investments do you mean stocks? If that's the case, would you have enough money in case the market goes south, to cover your losses and pay back the loan? If not then I wouldn't invest that money in the market. Just my 2 cents.

Re: USAA Career Starter Loan / Improve or decline credit score

Shogun — Tue, 15 Dec 2015 03:47:40 GMT

@darwin_wins wrote:
When you say investments do you mean stocks? If that's the case, would you have enough money in case the market goes south, to cover your losses and pay back the loan? If not then I wouldn't invest that money in the market. Just my 2 cents.

Excellent 2 cents.

Re: USAA Career Starter Loan / Improve or decline credit score

Anonymous — Tue, 15 Dec 2015 04:06:14 GMT

Taking out a loan to invest in the market? Hmmm......