Was it a normal personal loan or a secured/credit builder loan?
3 days after my discharge I applied for a loan through my CU, I got a call from them the next day. Just called looking for basic information and how I was planning to use my loan. Once I informed the loan rep what I was trying to do he said it would be an easy approval for him.
Basically, all I told him was that I don't need the funds, its strictly for rebuilding my credit and I'd be willing to use my savings as collateral. He ended up creating a 2nd savings account for me and deposited $500 into it that I can't access (can make deposits to it though) and every month the payment is automatically pulled from it.
I bank with America First Credit Union btw. It did have a hard inquiry associated with it though, I later found out that another credit union local to me (One Nevada) also offers credit builder loans but don't pull credit, you just need to have the funds (minimum $1,000 loan for a minimum of a year).
Nobody is going to give you an unsecured personal loan just days after discharge.
It's a shared secured loan that you want, and you only need one if you have no other installment loan (mortgage/car/student) reporting.
Is it worth it to join Navy Fed? Absolutely! They are a terrific credit union,
they will treat you very well, and they're extremely generous with starting
limits and credit limit increases. Just take care of your accounts, and Navy Fed
will become your newest best friend.
BTW, if you're just looking to establish credit with Navy Fed, you might want
to consider their secured card. Use it responsibly for 6 months to create a
good track record with them, and then apply for a personal loan if you still
want one. Just a thought. Good luck!
10 days post discharge is too early for a unsecured loan. Secured loan is probably the way to go since you don't need the money.
As SteelerNYC stated, if you have auto/mortgage/student loans reporting then you really don't need a installment loan.
But if you really want one, Navy Federal is great and so is Self-Lender.