Alliant CU discontinuing Share Secure loans

[Anonymous]

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For a person who doesn't mind one hard pull at Equifax, an Alliant $500 unsecured loan is probably the best choice, since I am guessing that you can pay it to $33 and keep it open for $60 months.

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Do we have any confirmation of this? Also, any idea what scores a person would need to qualify for an unsecured loan?

[Anonymous]

No confirmations yet, but the broader community here would be grateful I am sure if you'd give it a go.

[Anonymous]

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@Anonymous wrote:

No confirmations yet, but the broader community here would be grateful I am sure if you'd give it a go.

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I would love to but I doubt I would have income that would qualify me for the loan. I'm a full time student and work two jobs on campus but they are paid in grant money not a normal paycheck. I will inquire but I don't think it's an option for me. 

[Anonymous]

Wow that's what I get for not really being on here for about the last month. I opened the savings with Alliant but hestitated on the loan.

[Anonymous]

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@Anonymous wrote:

Wow that's what I get for not really being on here for about the last month. I opened the savings with Alliant but hestitated on the loan.

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@Anonymous AltCtrl.  Here is something I just said to contributor BillHarrell last night.  Like you, he also joined Alliant, delayed a tiny bit on pulling the SSL trigger, and now is looking for a solution.  I wrote:

Bill, you could be a big help to the community here if you would take a $500 unsecured loan with Alliant.  The SSL technique should be basically the same with an unsecured loan as with a secured loan -- take it out, pay it to $44 on Month 1, etc.  The interest will be higher but that should not matter since your principal ($44) is tiny.

The only drawback is the hard pull, but the benefit of the technique (+30 points on all three scores) compensates you for the inquiry impact (minus 5 to only one bureau).

AltCtrl.... would you be willing to try this idea out for us?

[Shadowfactor]

Has anyone found a suitable replacement for Alliant yet ?

I’m looking for a installment loan to add to my reports.
I don’t mind being a guinea pig, but I can’t open an account with Alliant. I tried to open an account with them. So if anyone has any other solutions. I don’t mind calling and getting something setup.

Have a Chex systems negative from 4 years and 10 months ago.

[Anonymous]

No suitable replacement yet.  I am working on that and hope to create a discussion thread by the end of this week to make the Quest For a New Alliant a group effort.

[Anonymous]

I contacted them today about a getting a secured loan at all and they told me they do hard pulls on every app now. 

[seattlecredit08]

Question: In terms of the "next best thing," is there a CU or a bank which is offering a secure installment product which ***appears to meet perhaps most  but not all of the ideal criteria that Allient met?

Thanks!!

[Anonymous]

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@Anonymous wrote:

I contacted them today about a getting a secured loan at all and they told me they do hard pulls on every app now. 

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Did you mean Alliant is doing hard pulls on every app now? Just loan apps or even simple membership?