@Taoron wrote:
@Anonymous wrote:
@Taoron wrote:
@Anonymous wrote:Credit scores have so many dumb caveats. After my bk, when my student loans started reporting again, my scores shot up 30-50 points because I had an installment loan reporting again.
...nevermind that more student loans started reporting incorrectly as owing the original balance from 10 years ago, even though they're paid off now, a few days later and knocked me back down 20 points on EQ... grumble grumble.
Isn't rebuilding FUN!??!?!
I'd second the secured loan suggestion.I remember asking BCU for a secured loan solution and they set me up with a secured credit card instead, lol. Does NFCU have a secured loan option by any chance?
Yes NFCU has secured loans, but as I don't qualify for them, don't know the terms. FICO scoring lists as one of the qualifers for a good score some type of installment loan. I've been turned down before because of not having a mortgage when my house is paid for. Plan to try to get a mortgage next year, and then it will report the balance on the installment loan is too high, just like it does for my car. Just remember-we have to play with the cards (no pun intended) that we are dealt when it comes to credit.
Is that why I read posts of people applying for a card or two before they get a mortgage? Are you unable to qualify for another credit card afterwards for a long time or something?
I would never apply for a card or two prior to a mortgage, unless it was more than six months prior to a mortgage. When going through UW for a mortgage you don't want your score to change for ANY reason, so you do nothing that could possibly cause a score change. A lot of people seem to go on an app spree after the mortgage is funded 
@Scupra wrote:
@Taoron wrote:
@Anonymous wrote:
@Taoron wrote:
@Anonymous wrote:Credit scores have so many dumb caveats. After my bk, when my student loans started reporting again, my scores shot up 30-50 points because I had an installment loan reporting again.
...nevermind that more student loans started reporting incorrectly as owing the original balance from 10 years ago, even though they're paid off now, a few days later and knocked me back down 20 points on EQ... grumble grumble.
Isn't rebuilding FUN!??!?!
I'd second the secured loan suggestion.I remember asking BCU for a secured loan solution and they set me up with a secured credit card instead, lol. Does NFCU have a secured loan option by any chance?
Yes NFCU has secured loans, but as I don't qualify for them, don't know the terms. FICO scoring lists as one of the qualifers for a good score some type of installment loan. I've been turned down before because of not having a mortgage when my house is paid for. Plan to try to get a mortgage next year, and then it will report the balance on the installment loan is too high, just like it does for my car. Just remember-we have to play with the cards (no pun intended) that we are dealt when it comes to credit.
Is that why I read posts of people applying for a card or two before they get a mortgage? Are you unable to qualify for another credit card afterwards for a long time or something?
I would never apply for a card or two prior to a mortgage, unless it was more than six months prior to a mortgage. When going through UW for a mortgage you don't want your score to change for ANY reason, so you do nothing that could possibly cause a score change. A lot of people seem to go on an app spree after the mortgage is funded
Oh my fault, it's after not before.. that was funny, I knew it'd look bad if UW saw a bunch of credit-shopping before a mortgage. Just testing you all, hahaha. 
@Taoron wrote:
@Scupra wrote:
@Taoron wrote:
@Anonymous wrote:
@Taoron wrote:
@Anonymous wrote:Credit scores have so many dumb caveats. After my bk, when my student loans started reporting again, my scores shot up 30-50 points because I had an installment loan reporting again.
...nevermind that more student loans started reporting incorrectly as owing the original balance from 10 years ago, even though they're paid off now, a few days later and knocked me back down 20 points on EQ... grumble grumble.
Isn't rebuilding FUN!??!?!
I'd second the secured loan suggestion.I remember asking BCU for a secured loan solution and they set me up with a secured credit card instead, lol. Does NFCU have a secured loan option by any chance?
Yes NFCU has secured loans, but as I don't qualify for them, don't know the terms. FICO scoring lists as one of the qualifers for a good score some type of installment loan. I've been turned down before because of not having a mortgage when my house is paid for. Plan to try to get a mortgage next year, and then it will report the balance on the installment loan is too high, just like it does for my car. Just remember-we have to play with the cards (no pun intended) that we are dealt when it comes to credit.
Is that why I read posts of people applying for a card or two before they get a mortgage? Are you unable to qualify for another credit card afterwards for a long time or something?
I would never apply for a card or two prior to a mortgage, unless it was more than six months prior to a mortgage. When going through UW for a mortgage you don't want your score to change for ANY reason, so you do nothing that could possibly cause a score change. A lot of people seem to go on an app spree after the mortgage is funded
Oh my fault, it's after not before.. that was funny, I knew it'd look bad if UW saw a bunch of credit-shopping before a mortgage. Just testing you all, hahaha.
Kinda figured Haha!
@Anonymous wrote:
@Anonymous wrote:
I was sad when I discovered BCU didn't have a secured loan. (I wanted to do one in the event my student loans didn't start reporting again.) I'm not sure if NFCU does them (sure wish I could get in with them though!!) I ended up getting mine through Alliant CU. painless process and no HP for joining or opening the loan.BCU does have deposit secured loans, here's the link:
https://www.bcu.org/Products/Loans/Other-Loans/Deposit-Secured
I remember asking for that when I opened my account in 2014, and the person I spoke to basically turn me away from that and pointed me towards a secured visa account.