NFCU personal loan question

Anonymous · ‎01-13-2013

I'm sorry if this is in the wrong place I couldn't find an area for personal loans. My question is if I app for a personal loan with navy fed and my credit is not good enough will they counter offer an amount or just say no all together? Any input would be greatly appreciated. Thank you.

pizzadude · ‎01-13-2013

NCFU is quite good about CC approvals, so hopefully it will carry over to their personal loans too. Are you looking to pay off revolving debt or do you need the funds for something else ?

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX

Rhaeny · ‎01-13-2013

Well, they could approve, counter or totally decline. However you can try to recon with them if you don't like what the answer is. I sent in an email to recon with them and a loan rep called me back, we discussed my circumstances and I got what I wanted. So I think you are going to have to just go through the process to get answer because no one can answer that question but Navy. I know how nerve racking it is doing this stuff but you won't know until you try. Good Luck to you!

Dustink · ‎01-13-2013

How much are you looking for?

Your APR is going to be 18%. Ouch if you plan on taking awhile to pay it.

Too many INQs & low AAoA so I'm off to tend the Garden. Age:23

$17k $8.5K Closed $19k $6.5k $24.2k Closed $5k Closed $8.5k Closed @2.49%

Anonymous · ‎01-13-2013

I need the funds for something else. I have an nRewards MC, navChek, and a car loan with navy fed.. At the time I apply for the personal loan absolutely everything except for the car loan will be completely paid off. And I have fully paid and never missed a payment on a personal loan I had in the past with navy fed. But when I got approved for that personal loan I got the amount I asked for so that's why I'm not sure if they will counter offer. At the time I apply all my credit cards will have 0-5% utilization as well.

Anonymous · ‎01-13-2013

They're personal loans are 18% ?! Looking for 10k

Anonymous · ‎01-13-2013

Thanks! I will prob apply in the branch with a loan officer that way I'm not freaking out at home waiting for a response! Lol

Dustink · ‎01-13-2013

@Anonymous wrote:
They're personal loans are 18% ?! Looking for 10k

Yes, an unsecured personal loan with less than excellent credit will land you an APR of 18%.

Too many INQs & low AAoA so I'm off to tend the Garden. Age:23

$17k $8.5K Closed $19k $6.5k $24.2k Closed $5k Closed $8.5k Closed @2.49%

Dustink · ‎01-13-2013

@Anonymous wrote:
Thanks! I will prob apply in the branch with a loan officer that way I'm not freaking out at home waiting for a response! Lol

You can apply over the phone, but at some point will still have to sign something.

Too many INQs & low AAoA so I'm off to tend the Garden. Age:23

$17k $8.5K Closed $19k $6.5k $24.2k Closed $5k Closed $8.5k Closed @2.49%

Rhaeny · ‎01-13-2013

OP, it seems that you already have a good relationship with them and since all of your loans with them will be PIF at the time of your new app, doesn't seem like you have much to worry about. Are you going to ask for considerably more than you did before? Is that the concern?