Mine is a personal loan and it's not reporting to any of the three bureaus. YMMV!
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.
@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.
I've never had one show up on my credit report.
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?
@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.
@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.