NFCU SSL

[SouthJamaica]

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@Anonymous wrote:

So my deposit was just accepted by NFCU and is on hold for 2 days.

Is the $3010 figure guaranteed to get 5 years? I’ve heard of them offering 3 year terms to people sometimes so I took a $3500 BT from Disco but if I can get away with less, I would gladly do that. 

@SouthJamaica @M_Smart007 What did you say the purpose of the loan was for? Do they even ask since it’s secured? 

This is pretty much the last piece of my credit rebuild so I want to do it right. 

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I don't recall them asking, but if they would ask I would say 'credit building'.

[Anonymous]

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@SouthJamaica wrote:

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@Anonymous wrote:

So my deposit was just accepted by NFCU and is on hold for 2 days.

Is the $3010 figure guaranteed to get 5 years? I’ve heard of them offering 3 year terms to people sometimes so I took a $3500 BT from Disco but if I can get away with less, I would gladly do that. 

@SouthJamaica @M_Smart007 What did you say the purpose of the loan was for? Do they even ask since it’s secured? 

This is pretty much the last piece of my credit rebuild so I want to do it right. 

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I don't recall them asking, but if they would ask I would say 'credit building'.

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That’s what I was going to tell them. Thanks SJ. I’ll make a post when it’s all set up. I should have just had Disco deposit the BT right into NFCU but I had never used my NFCU account for payment which may have set off red flags so I’ll just wait the two days for it to clear and then call them and set it up. If I can even eke out 20 points from this I’ll be very happy but I suspect it will be more. 

[M_Smart007]

Replying on phone, so not the best, make sure you tell them you absolutely need 5 years.

And they did not ask me what the loan was for, although I did get into the discussion with CSR about using SSL to increase score. He was doing the same. Except He was using 1 year, I explained. He was killing His AAoA by doing that.

I had no problem with $3010 for a 5 year.

[Anonymous]

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@M_Smart007 wrote:
Replying on phone, so not the best, make sure you tell them you absolutely need 5 years.

And they did not ask me what the loan was for, although I did get into the discussion with CSR about using SSL to increase score. He was doing the same. Except He was using 1 year, I explained. He was killing His AAoA by doing that.

I had no problem with $3010 for a 5 year.

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Yup I am not going to take less than 5 year. If I have to offer up $3500 that’s what I’ll do but I’ll start at $3100 and see where we go. 

The AAoA is exactly why I don’t want to do less than 5 and would actually do 10 if I had $25K lying around. 

[M_Smart007]

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@Anonymous wrote:

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@M_Smart007 wrote:
Replying on phone, so not the best, make sure you tell them you absolutely need 5 years.

And they did not ask me what the loan was for, although I did get into the discussion with CSR about using SSL to increase score. He was doing the same. Except He was using 1 year, I explained. He was killing His AAoA by doing that.

I had no problem with $3010 for a 5 year.

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Yup I am not going to take less than 5 year. If I have to offer up $3500 that’s what I’ll do but I’ll start at $3100 and see where we go. 

The AAoA is exactly why I don’t want to do less than 5 and would actually do 10 if I had $25K lying around. 

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I never had asked about the 10 year SSL. Do You Think they Really want $25K fo 10 years?

I am going to try for 0/12, possibly 0/24. I think the biggest point gain will come when it (SSL) hits 1 year AoYA.

(of course as you know, every profile reacts a little different)

as by then, all my other new accounts will be over 1 year AoYA. and AAoA will be back over 3 years.

I sould have close to 775-800 Fico's. There are only 3 CC's I kinda want. and I would like to get HIGH SL's.

[Anonymous]

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@M_Smart007 wrote:

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@Anonymous wrote:

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@M_Smart007 wrote:
Replying on phone, so not the best, make sure you tell them you absolutely need 5 years.

And they did not ask me what the loan was for, although I did get into the discussion with CSR about using SSL to increase score. He was doing the same. Except He was using 1 year, I explained. He was killing His AAoA by doing that.

I had no problem with $3010 for a 5 year.

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Yup I am not going to take less than 5 year. If I have to offer up $3500 that’s what I’ll do but I’ll start at $3100 and see where we go. 

The AAoA is exactly why I don’t want to do less than 5 and would actually do 10 if I had $25K lying around. 

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I never had asked about the 10 year SSL. Do You Think they Really want $25K fo 10 years?

I am going to try for 0/12, possibly 0/24. I think the biggest point gain will come when it (SSL) hits 1 year AoYA.

(of course as you know, every profile reacts a little different)

as by then, all my other new accounts will be over 1 year AoYA. and AAoA will be back over 3 years.

I sould have close to 775-800 Fico's. There are only 3 CC's I kinda want. and I would like to get HIGH SL's.

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It’s actually $30K according to their website. $25K is 61 to 84 months but $30K can go up to 180 months which would be 15 years. 

I am probably about done with seeking new credit until my BK is gone so my scores will all go up quite a bit. If I stay in the garden, I should be in the 770-790 range when my BK falls next August. I have actually been approved for everything I wanted except the Cash+. 

[Anonymous]

That was really not that difficult. I pledged the same $3010. She told me at least $3001 so I figured I would just do the $3010. It’s in processing right now. 

She actually straight up gave me the option of putting it in my checking account. I had read that Navy Federal doesn’t usually like doing it that way but she offered me check, savings, or checking account for the deposit and she went through real quick about how it works all the way down to what happens when I pay. It’s incredible that they offer such a great service to their members. 

She said my documents should be up to sign in an hour or two and then I’m all set!

[Anonymous]

Not even half an hour!

I am assuming it’s going to take a bit to show up on my account list like my CLOC did so I’ll just check back later tonight or tomorrow to pay it down. They made this process insanely easy!

[M_Smart007]

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@Anonymous wrote:

Not even half an hour!

I am assuming it’s going to take a bit to show up on my account list like my CLOC did so I’ll just check back later tonight or tomorrow to pay it down. They made this process insanely easy!

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Congrats on your SSL, Glad it went smooth and easy!

[Anonymous]

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@M_Smart007 wrote:

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@Anonymous wrote:

Not even half an hour!

I am assuming it’s going to take a bit to show up on my account list like my CLOC did so I’ll just check back later tonight or tomorrow to pay it down. They made this process insanely easy!

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Congrats on your SSL, Glad it went smooth and easy!

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Thank you sir!

It actually just showed up a bit ago and it’s paid down to 8.9% which pushed it out to 12/2023 for next payment. Worked like a charm. 

Once they release the hold on the funds I’m going to send $2700 back to Disco and just make payments on the last $800 for a few months so Disco gets some interest out of the deal. 

I was a bit nervous about doing this — it’s a lot of money — but it’s looking like it’s going to pay off big time.