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The Quest for an SSL alternative to Alliant

Frequent Contributor

Re: The Quest for an SSL alternative to Alliant


@Bees18 wrote:

I'm going to also try to do the SSL at NFCU...can someone help me with this? I've read all the threads on Alliant, but I have specific questions about Navy...


I found a few threads if they help you but I"m still confused.

https://ficoforums.myfico.com/t5/Personal-Finance/Navy-Federal-Share-Secured-Loan/td-p/5152739/page/...

Like apparently to get a 60 month loan someone had to do it with 3k which I guess isn't too bad if you're pulling it off a credit card and putting it right back on.

- 3/17 Cap1 Secured $200 and now $500 as of 9/17 RIP.-
-10/17 Amex Blue Cash Awards. 10k!
-11/30 Discover It $1,300
2/18 Cap1 Unsecured. Converted to QuickSilver. No CLI.
- No loans. Rebuilding. Gardening.
Message 111 of 153
New Contributor

Re: The Quest for an SSL alternative to Alliant

anyone full turn key solution yet?

Message 112 of 153
Member

Re: The Quest for an SSL alternative to Alliant

I just became a member with Alliant, and I spoke to a representative from their loan department over the phone. He told me that typically if you only apply for a $1000 loan, ( which is the minimum loan amount ) you are usually only given a loan term of 12 months.

I asked about their 60-63 month options and they told me that usually every $1000 dollars adds another 12 months to the loan term. For example, If you take out a loan of $2000 they usually give you a 24 month term to pay it off, with $3000 it would be 36 months. I was under the impression that for $1000 I would be able to get a longer loan. Does anyone have any input on this?

Message 113 of 153
Contributor

Re: The Quest for an SSL alternative to Alliant

I only want to do a small one like $500... I'm going to try to join NFCU next week and we will see what happens.

Message 114 of 153
Contributor

Re: The Quest for an SSL alternative to Alliant

@altctrldelmyscores 

 

i see you have the Amex BCE...I was hoping to app for that once I'm finished cleaning up my report (should be clean by next month) and my first cards have aged. Can I ask how much credit history you had when you were approved with them? Was your report clean?

Message 115 of 153
Valued Member

Re: The Quest for an SSL alternative to Alliant

CUs usually have a minimum monthly payment that they want to receive, and that differs by institution. Some have an advertised minimum montly payment, usually at $25+/mo. Some want even more, while some are willing to help you with less. I guess Alliant wants $85+/mo. if they told you it's $1k/year.

 

DCU wanted to give me a 6 mo. term for my $200, but ended up giving me 24 mos. PenFed I think is $300 for 12 mos. (SSL trick doesn't work on either of them)

Korea:
Samsung Card SSG7 Limit: $15,000 + Instant Loan Limit: $20,000
Hyundai Card M.2 Kia Q Limit: $10,000 + Instant Loan Limit: $10,000 [closed]
Credit Rank: Was 2, dropped to 5 (scale of 1-10) simply for taking out a loan from a savings bank at 8% instead of a "tier 1 bank" at 12%
-----
US:
Discover it Secured Limit: $200
-----
Needing two different countries' financial systems is like needing two severely flawed women.
Korean credit system is dumber than FICO. US fund transfer speeds really need to catch up to Korea's 2 seconds. Seriously.
Message 116 of 153
Established Member

Re: The Quest for an SSL alternative to Alliant

NFCU has the same policy. $500 will only get you 6-12 month loan. All of these questions have been answered in these forums.
Message 117 of 153
Contributor

Re: The Quest for an SSL alternative to Alliant

I'm fine with 12 months, not ideal but as long as I can pay it right away and extend the payment out then I'd still be interested.

Message 118 of 153
Established Member

Re: The Quest for an SSL alternative to Alliant

Yes you can do that and it works. Just don’t call and ask any questions about it the CS aren’t familiar. Just set up the loan and do it and it works.
Message 119 of 153
Contributor

Re: The Quest for an SSL alternative to Alliant

@creditsage

 

Did it bump your score after paying it down when you opened yours and it reported?

Message 120 of 153