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@woodyman100 wrote:
@Hex wrote:
Did you take out this loan just to build a relationship? I’ve never taken out a personal loan but with the rumors I’ve heard about FICO 10 I’d be afraid to do it now. In what way will this loan help you?There is something to be said for building relationships in case actually needed for the future.
I'm a proponent
I decided to pay the loan down to under 50%, that will minimize my interest and get me just over 12 months of payments.
@Creditaddict wrote:
@woodyman100 wrote:
@Hex wrote:
Did you take out this loan just to build a relationship? I’ve never taken out a personal loan but with the rumors I’ve heard about FICO 10 I’d be afraid to do it now. In what way will this loan help you?There is something to be said for building relationships in case actually needed for the future.
I'm a proponent
I decided to pay the loan down to under 50%, that will minimize my interest and get me just over 12 months of payments.
If they push the payments out into the future why pay it off early at all?
I don't know LC's practices but the sweet spot is below 8.9% if it's your only open loan, and any tradeline if it isn't costing you anything really just leave it open. In this case if they pay ahead just pay it down to like $5 and let it sit.
Does Lending Club use Vantage?
I took out two $1,000 loans with them around 2012-2014. I was given a high interest rate commensurate with my 630s Vantage Score, rather than my 680s FICO.
I paid nogb ppp
Does Lending Club use Vantage?
I took out two $1,000 loans with them around 2012-2014. I was given a high interest rate commensurate with my 630s Vantage Score, rather than my 680s FICO.
I paid both in full with no problems. Never received a subsequent offer from them.