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Banker's Healthcare Group (BHG) Personal Loan

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ridgebackpilot
Established Contributor

Re: Banker's Healthcare Group (BHG) Personal Loan

Mine is a personal loan and it's not reporting to any of the three bureaus. YMMV!

Message 11 of 24
SCarpenter
New Member

Re: Banker's Healthcare Group (BHG) Personal Loan

Wondering if this loan ever showed up on your credit report? I am considering a loan with the 'em and this is a key reason. 

Message 12 of 24
SCarpenter
New Member

Re: Banker's Healthcare Group (BHG) Personal Loan

@ridgebackpilot Wondering if this loan ever showed up on your credit report? I am considering a loan with them and this is a key reason. Thank you. 

Message 13 of 24
Citylights18
Valued Contributor

Re: Banker's Healthcare Group (BHG) Personal Loan

I've never had one show up on my credit report.

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Message 14 of 24
C6
Regular Contributor

Re: Banker's Healthcare Group (BHG) Personal Loan


@ridgebackpilot wrote:

Has anyone done business with Banker's Healthcare Group (BHG)? They offer personal and business loans to established professionals that do NOT report to any of the credit bureaus as a new tradeline.

 

After I got past their constant, annoying mailings, they did a soft pull of my credit and approved me for an unsecured loan of up to $170,000. The terms were pretty steep: Seven year term with 15.99% interest and 4% origination fee. There is no prepayment penalty and the origination fee is financed into the loan. They explained that the level of risk they're taking justifies these fees.

 

I'm considering taking a lesser amount to pay off most of my credit card debt. My goal is to reduce CC utilization to near AZEO and raise my scores so that I can get the best rate on a cash-out refinance of my mortgage. I'd use the proceeds to pay off the BHG loan, so I'd really only be out the origination fee and a few months' worth of interest.

 

I've never before run across a lender offering unsecured personal loans that do not report to the credit bureaus. What do you think?

 

 

 


Which credit bureau do they soft pull?

Message 15 of 24
SCarpenter
New Member

Re: Banker's Healthcare Group (BHG) Personal Loan

@Citylights18 thx. You have a personal loan with them and they don't report to credit?

Message 16 of 24
Citylights18
Valued Contributor

Re: Banker's Healthcare Group (BHG) Personal Loan


@SCarpenter wrote:

@Citylights18 thx. You have a personal loan with them and they don't report to credit?


Well I don't know about business credit but I don't bother to pay for business credit services. From what I've read on this board they don't report to business credit either which for some is half of the point of taking out a loan with them to establish business credit.

 

On the consumer side BHG hasn't shown up on Chase Credit Journey nor reflected in my Discover, Citi or NFCU credit score. Also do not see them listed as part of MyFico credit file either.

Official travel point totals as of 12/26/23 (1,382,693 Total Points)
Chase Ultimate Rewards 661,525 | IHG One Rewards 144,443 | Hilton Honors 143,801 | AMEX Membership Rewards 102,729 | World of Hyatt 90,413 | Marriott Bonvoy 65,343 | Citi Thank You 62,712 | Wells Fargo Rewards 33,652 | Southwest Rapid Rewards 28,105 | United MileagePlus 13,316 | British Airways Avios 12,333 | Jet Blue TrueBlue 11,661 | NASA Platinum Rewards 1,883 | AA Advantage 1,744 | Navy Federal Rewards 792 | Delta Sky Miles 175 | Virgin Atlantic Virgin Points 100 | Lowes Business Rewards 6,992 ($69.92) | Amazon Rewards 475 ($4.75) | Discover CB 499 ($4.99)
Message 17 of 24
SCarpenter
New Member

Re: Banker's Healthcare Group (BHG) Personal Loan

@Citylights18 Yours was a personal loan?

Message 18 of 24
Citylights18
Valued Contributor

Re: Banker's Healthcare Group (BHG) Personal Loan


@SCarpenter wrote:

@Citylights18 Yours was a personal loan?


It was in fact a business loan. Sorry I can't help if you are looking for a personal loan data point.

 

Good catch.

Official travel point totals as of 12/26/23 (1,382,693 Total Points)
Chase Ultimate Rewards 661,525 | IHG One Rewards 144,443 | Hilton Honors 143,801 | AMEX Membership Rewards 102,729 | World of Hyatt 90,413 | Marriott Bonvoy 65,343 | Citi Thank You 62,712 | Wells Fargo Rewards 33,652 | Southwest Rapid Rewards 28,105 | United MileagePlus 13,316 | British Airways Avios 12,333 | Jet Blue TrueBlue 11,661 | NASA Platinum Rewards 1,883 | AA Advantage 1,744 | Navy Federal Rewards 792 | Delta Sky Miles 175 | Virgin Atlantic Virgin Points 100 | Lowes Business Rewards 6,992 ($69.92) | Amazon Rewards 475 ($4.75) | Discover CB 499 ($4.99)
Message 19 of 24
RickNATL
Established Contributor

Re: Banker's Healthcare Group (BHG) Personal Loan

Transunion - they just confirmed that with me today @C6 

Message 20 of 24
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