cancel
Showing results for 
Search instead for 
Did you mean: 

Chances of personal loan approval?

tag
Anonymous
Not applicable

Chances of personal loan approval?

I’m planning on trying to get a personal loan within the next few months, my plan is to get me scores to above or around 680 at least, utilization less than 60% last late payment was over 3 years ago and only derog I have I believe is medical bill that’s paid off from 2016 i think.

Looking at :
SoFi
Discover
Barclays (have a card with them)
Any other suggestions?
3 REPLIES 3
Anonymous
Not applicable

Re: Chances of personal loan approval?

Maybe Lending Tree, Prosper and American Express?  Or another bank and/or credit union?  Or subprime lender If your credit score is too low.  

 

Message 2 of 4
Anonymous
Not applicable

Re: Chances of personal loan approval?


@Anonymous wrote:
I’m planning on trying to get a personal loan within the next few months, my plan is to get me scores to above or around 680 at least, utilization less than 60% last late payment was over 3 years ago and only derog I have I believe is medical bill that’s paid off from 2016 i think.

Looking at :
SoFi
Discover
Barclays (have a card with them)
Any other suggestions?

It couldn't hurt to check out the prequals since it is only a SP.  You'll at least get an idea of what rates and terms are offered.  A CU would probably be your best bet for rates.  If I had to guess, with a 680 you are probably looking at 16-20% with CUs being lower.  You could also take Sofi off that list.  I have read that you need a minimum of 720 to qualify which shocked me and they would prefer to see an unblemished profile.

Message 3 of 4
CreditInspired
Community Leader
Super Contributor

Re: Chances of personal loan approval?

OP, IMHO, less than 60% UT is still too high. I suggest getting it to less than 28.9%.

GL2U

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K
Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.