@Anonymous wrote:
@satio wrote:Regarding NFCU eligibility, if my father (who is now deceased as of 2018) has a service record in the Air Force that would seem to qualify me?
I have been a member of USAA all of my adult life as a result of this. My father never had any active accounts with NFCU but I have a copy of his discharge from his service record.
Hi Satio, just saw this. Almost certainly the right choice for you is to explore joining NFCU. Give them a call or go into a branch on Monday. Since you have a copy of your father's discharge you are way ahead of most people. If you have his SSN you'd be golden.
Oh yes, I have all his information. I managed all his financial and medical affairs in his last years and am the executor of this estate since his passing in 2018.
I will want to confirm though if its a hard pull or not. I can handle the hit if necessary but would like to avoid it if I can.
@Anonymous wrote:As SouthJ says, Navy Fed has been proven for sure.
I am pretty sure that an unsecured loan at Alliant also works. If are willing to take a gamble, you could try them, though I believe you have to be a member for six months before they will give you an unsecured loan. Ceratinly it would be nice to have the Alliant question confirmed.
Is it possible that you are preparing for a mortgage? If so, the Share Secure Loan Technique doesn't work for the older mortgage models.
I am probably 2-3 years out before I will be in a position for any mortgage which is why I plan to work steadily to get myself back into a stronger position.
I have a "thin file" right now (only 2 open CC accounts) and some charge offs I am in the processing of settling to at least bring the balance to 0. The charge offs are the major impact right now as they are still reporting deliquency each month and also mess up my utilization. With those paid to 0 my utilization will be 0% until I open an SSL as I have both CC accounts paid to zero.
CGID: Wells Fargo DS = WF Dealer Services, or WFDS, sorry for the half-shorthand.
satio: I have had two loans via USAA in the past which worked this way; the problem was they only did secured CD loans and they wouldn't free up the cash (well early termination fee on the CD if you went that route which I did after my mortgage obliterated any benefit to it) for the whole period.
In general most CU's share secure loans are the better more flexible option, but we seem to be having trouble figuring out a valid one... I would test Penfed but have enough new accounts already on my report and sort of need to leave one free in case Chase does something amazing again with their credit card portfolio.
@Revelate wrote:CGID: Wells Fargo DS = WF Dealer Services, or WFDS, sorry for the half-shorthand.
satio: I have had two loans via USAA in the past which worked this way; the problem was they only did secured CD loans and they wouldn't free up the cash (well early termination fee on the CD if you went that route which I did after my mortgage obliterated any benefit to it) for the whole period.
In general most CU's share secure loans are the better more flexible option, but we seem to be having trouble figuring out a valid one... I would test Penfed but have enough new accounts already on my report and sort of need to leave one free in case Chase does something amazing again with their credit card portfolio.
I've got the flexibility to tie up money in a CD for extended period ... say 3 to 5 years. If you can share you experience (loan amount and terms) for the USAA products you have experience with that would be helpful.
I am planning to visit my local CU that I have been a member of for 20 years and see if their SSL product will allow pay down without shortening the term.
And of course explore the others that have been mentioned. I appreciate all the feedback. The other thread is a lengthy read and left me with questions that members like yourself have been kind enough to help summarize.
@satio wrote:
@Revelate wrote:CGID: Wells Fargo DS = WF Dealer Services, or WFDS, sorry for the half-shorthand.
satio: I have had two loans via USAA in the past which worked this way; the problem was they only did secured CD loans and they wouldn't free up the cash (well early termination fee on the CD if you went that route which I did after my mortgage obliterated any benefit to it) for the whole period.
In general most CU's share secure loans are the better more flexible option, but we seem to be having trouble figuring out a valid one... I would test Penfed but have enough new accounts already on my report and sort of need to leave one free in case Chase does something amazing again with their credit card portfolio.
I've got the flexibility to tie up money in a CD for extended period ... say 3 to 5 years. If you can share you experience (loan amount and terms) for the USAA products you have experience with that would be helpful.
I am planning to visit my local CU that I have been a member of for 20 years and see if their SSL product will allow pay down without shortening the term.
And of course explore the others that have been mentioned. I appreciate all the feedback. The other thread is a lengthy read and left me with questions that members like yourself have been kind enough to help summarize.
You're probably not going to be able to get a response or at least a useful and correct one.
Sort of need to try it, talking has basically conclusively proven not to work unfortunately in the big thread.
USAA I was using 5 year term CD's but a 3 year would work too, just the tradeline won't sit out for as long which isn't necessarily bad: 5 years is a long time credit wise and financially. I did $2500 both times which I think was the minimum or the minimum for a 5 year CD, the amount doesn't really matter unless you have multiple installment loans.