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Chances of Approval

Valued Member

Chances of Approval

I applied for a $2,500 loan today at credit union. My current fico score with Experian is 728 - I have loads of inquiries because I'm trying to get a loan to get my car repaired. As I am walking miles to work everyday and I just need this fixed fast. 


The loan officer pulled my score and told me that I had a good score and she went over monthly payments with me. As I told her that I would be paying the loan off early as January once I get my tax refund. She said she was passing the application over to underwriters and they will get back with me for employment verification. 

Does this sound like an approval? As of right now I have 1 credit card with 7 months of solid on - time payment and my current balance for my credit card is $13 for a $400 limit. I'm reflecting 3% balance. 



Message 1 of 4
Established Member

Re: Chances of Approval

Honestly it sounds good to me, but since we don't know what may be on the other bureau's reports, can;t really tell. Do you have any collections accounts, or debt? 


At least you wont have to wait long!! Good luck to you!

10/20/2018: EX 645 | TU 635 | EQ 611
Current: EX 666 | TU 663| EQ 656
Three Accounts In Collections
Current Average Utilization 8%
Current Overall Utilization 5%
Current CC Limits - Helzberg CC: $3000 / Helzberg Cap One: $2101 / Merrick: $1400 / Blaze: $1,000 / Discover IT $800 / Capital One $750 / First Premier: $700 x 2 / Cap One Quicksilver $500 / Credit One: $600/ Milestone: $300 / JDWilliams: $200
Message 2 of 4
Super Contributor

Re: Chances of Approval

Sounds like a yes to me too.


They wouldn't have sent it to the underwriters if they didn't think it would go...


As always, ymmv, but it sounds like a go to me. 

08/28/20 Mortgage scores: EX2 718, EQ5 696, TU4 no idea.
09/01/20 Fico 8: EX 704, EQ 711, TU 733.
09/05/20 Fico 9: EX 705, EQ 700, TU no idea...

Zero percent financing is where the devil lives...
Sitting in the garden behaving myself. #noinqs2020
Message 3 of 4
Valued Contributor

Re: Chances of Approval

I would agree with others, it sounds like a Yes to me. As long as you have good history with the CU, then you should be okay.

Scores - All bureaus 756 +
TCL - Est. $275K
Message 4 of 4
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