Preapproved personal loan or Used Auto loan?
Here is what I am preapproved for as a personal loan. This is an unsecured loan, so can I expect to be approved for a used auto loan for the same amount, but a lower rate?
No HP for personal loan preapproval.
HP to get auto loan approval, correct?
If they extended you an offer for an auto loan as seen under Your Offers online along the right side of the Accounts page it will be a SP, otherwise you'll take a HP.
Approval for an auto loan is a YMMV as for the amount but a 14.99% rate for a car loan would be crazy high. I'm sure that if they approved you the rate would be much less.
Thanks for the info, I appreciate it.
I tried the Personal Loan pre-qual with EQ locked and got an error that they could not access my "frozen" EQ. I have a PF Home Equity LoC and thought they could access my locked EQ as an existing creditor, I do get their EQ Fico9 credit report. But I was only curious what kind of rate they would offer and as I really don't want or need a personal loan, so I just moved on.
Now I'm getting emails from their personal loan dept: "Upon attempting to access your credit information, we received notification that your credit information is locked (frozen). In order for us to perform our credit review processes, we will need access to this information. Please contact your credit information service provider and request that they unfreeze your credit file."
So I emailed them back yesterday: "I did NOT apply a Personal Loan. The page clearly states: Seeing your loan options will not affect your credit score.” “Seeing your options” is NOT a loan application. Please cancel anything in your system that indicates I “applied” for a Personal Loan, because I never applied for one."
Geez, at this point I wish I'd never tried the pre-qual.
I was preapproved same as above for 14.99% pushed the continue button yesterday morning and now is under review. Got an email to call them to expedite it. So i called on my way home yesterday and was told myfico wasn't working for them yesterday so they were having some issues with it, but that the underwriter is working on it. Said i should get an email sometime today. Then she said if i didn't hear anything from them by Thursday to call back.
**update was denied yesterday evening, told me the reason was in a portal tried to log into it. no reason there??? Oh well. So far no hp as of mid day today.
**update again, It gets weirder hehe. After denial on July 23rd I get an alert that they checked my credit so I tried for a cc since i didn't want the hp to go waste. Went to review then a few hours later was denied again. Was told the reason was on portal still couldn't see it. Thought oh well they just don't like me. Then on Friday the 24th I get an email that i need to call them about my Loan? So I'm at work and scratching my head going huh? So curiosity gets the better of me and i use the help feature to get them to call me. They call and said they counter offered at $6500. (I had asked for the full $20, 000.) So I ask what are the terms and she said a year and the payments are $500 a month! I said i can't afford that can i get 2 or 3 year terms. She says let me ask and i'll call you back. She calls back almost an hour later and says ok they were confused because this week had made the 3rd preapproval I had looked at and so they denied me because they thought I was looking for 3 loans! She said I was still ok for the original $20,000 or less if i still wanted. And that they are supposed to help their members not deny them. So she said they took the other preapprovals off. I could go play with terms and such of the one gave me the number and said she would call me back tomorrow. So i went to the website and asked for the full amount again. This time it went through and asked for POI. So here it is Saturday and now we wait and see again hehe. Wow this is weird
@bigpoppa09 Thanks for the info - I was just approved yesterday for the PCR card and went on to check personal loan options and I got 3 pre-approval offers. Thanks again
@AddictedToApprovals I haven't recieved a hp yet? It has only been half a day since they denied me though
I used the prequalify tool to check rates. I was approved for both 15k and 20 k. On the application tab it says conditinal approval. For those of you that have used the tool is this what you were seeing as well. I'm wondering if this means they are going to require POI. From a previous post I understand it could go either way just wondering if this is standard verbiage until you complete the application and they do the hard pull.