PEN FED Loan approved!

[Anonymous]

Hello Gang!

Thanks to your help, I recently "finished" my short term credit repair journey. Repo faded off last month, I paid off all CC's except my original Discover card. 

For the first time ever, Discover pre approved me for a personal loan. So I knew I had to check PenFed after parking a savings account with them for years.  

Was approved for a 6k loan @8.49 for 48 months. Discover was offering @8.99.. 

Discover reporting FICO 8 @761 before the pull for this loan. Experian reporting FICO 8 at 748 before pull. Believe paying off the Discover CC will raise score another 20 points, and let me report an installment loan for 4 years. Not too shabby..

Thanks again all! Super grateful for your advice, stories, inspiration.

PHP

[Mr_Mojo_Risin]

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@Anonymous wrote:

Hello Gang!

Thanks to your help, I recently "finished" my short term credit repair journey. Repo faded off last month, I paid off all CC's except my original Discover card. 

For the first time ever, Discover pre approved me for a personal loan. So I knew I had to check PenFed after parking a savings account with them for years.  

Was approved for a 6k loan @8.49 for 48 months. Discover was offering @8.99.. 

Discover reporting FICO 8 @761 before the pull for this loan. Experian reporting FICO 8 at 748 before pull. Believe paying off the Discover CC will raise score another 20 points, and let me report an installment loan for 4 years. Not too shabby..

Thanks again all! Super grateful for your advice, stories, inspiration.

PHP

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Great news you have! 

That's a pretty good rate, especially for 48 months. Cheers!