Hi dicemoney6,
I've split off your post to start a new thread. All I changed was the title.
MarineVietVet, myFICO moderator
I'm in a similar situation, I got a approved for a loan with NetCredit for $8000 at just under 35% apr. I have a few high cc balances which are hurting my credit score right now. I also have a couple loans I want to pay of to consolidate so I can free up more money every month. What I was planing to do is to get the loan and pay everything off to bring my credit up, then once my credit score goes up, possibly get the Netcredit Loan refinanced at my credit union for the amount due and pay it off so I wouldn't have to worry about paying so much back in the long run. I was also thinking, once everything is paid off, I would get offers for balance transfers with 0% for 18 months and I could use those to pay it off but I figured the personal loan would be better because it would just be a new installment loan which would help me build credit rather than another card carrying a high balance. I wanted to know if anyone has ever dealt with NetCredit before and if how they report would hurt my score? I also plan to check to make sure is it a simple interest loan, and to verify the is no prepayment as this was all stated when I was approved but I call tomorrow to verify. Any help or feedback would be great, thanks in advance.
