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Personal Loan Best Options

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Anonymous
Not applicable

Re: Personal Loan Best Options

My equifax score was 680, yes navy federal.
Message 11 of 14
expatCanuck
Super Contributor

Re: Personal Loan Best Options


@SouthJamaica wrote:

@Anonymous wrote:

Hi Everyone, 

   I am trying to get a personal loan I am currently with Logix credit union, My scores across the board are all in the 630's I have 8 inquires on my Transunion and only 3 medical bills and one utility bill from 4 years ago. no late payments on my three credit cards, I have Discover with a limit of $600 secured and a Logix credit card with 500 CL and VS with $350 CL they were all opened in NOV 2018. All have zero balences besides discover has $52 balance, I think I pretty much summed up my whole credit history lol 

Looking for suggestions of places to get a personal loan and if I would even be accepted with my credit history and FICO scores. 

thanksss Smiley Happy


I would try to stick with the credit union. If not that one, then another. That way your loan wouldn't get tagged as a "consumer finance account". And your rates would probably be lower.


Not my experience.  Last month (Dec 2019), I obtained a personal loan from PenFed; it's been tagged as a 'Consumer Finance Account'.  It hasn't impacted my scores much -- only my BankCard 3 (770) and my AutoScore 8 (825) note its presence.


2023 Goal: save 3 months' net income

Starting FICO8: 666 (give or take a FICO)
[ Last INQ 12-Feb-2024 ]
EQ8415 INQ (Auto, CC, HELOC, 2 mort)7y2m
EX8125 INQ (2 CC, 2 mort, HELoan)6y11m
TU8294 INQ (3 CC, 1 mort)6y6m
5/243/12AoYA 0m | AoOA 23y6m~3%
Message 12 of 14
CreditCuriosity
Moderator Emeritus

Re: Personal Loan Best Options


@expatCanuck wrote:

@SouthJamaica wrote:

@Anonymous wrote:

Hi Everyone, 

   I am trying to get a personal loan I am currently with Logix credit union, My scores across the board are all in the 630's I have 8 inquires on my Transunion and only 3 medical bills and one utility bill from 4 years ago. no late payments on my three credit cards, I have Discover with a limit of $600 secured and a Logix credit card with 500 CL and VS with $350 CL they were all opened in NOV 2018. All have zero balences besides discover has $52 balance, I think I pretty much summed up my whole credit history lol 

Looking for suggestions of places to get a personal loan and if I would even be accepted with my credit history and FICO scores. 

thanksss Smiley Happy


I would try to stick with the credit union. If not that one, then another. That way your loan wouldn't get tagged as a "consumer finance account". And your rates would probably be lower.


Not my experience.  Last month (Dec 2019), I obtained a personal loan from PenFed; it's been tagged as a 'Consumer Finance Account'.  It hasn't impacted my scores much -- only my BankCard 3 (770) and my AutoScore 8 (825) note its presence.


strange back when i had penfed personal loan wasnt a CFA loan..  Granted opened 1.5-2 years ago and since closed

Message 13 of 14
Openwater
Established Contributor

Re: Personal Loan Best Options


@expatCanuck wrote:

@SouthJamaica wrote:

@Anonymous wrote:

Hi Everyone, 

   I am trying to get a personal loan I am currently with Logix credit union, My scores across the board are all in the 630's I have 8 inquires on my Transunion and only 3 medical bills and one utility bill from 4 years ago. no late payments on my three credit cards, I have Discover with a limit of $600 secured and a Logix credit card with 500 CL and VS with $350 CL they were all opened in NOV 2018. All have zero balences besides discover has $52 balance, I think I pretty much summed up my whole credit history lol 

Looking for suggestions of places to get a personal loan and if I would even be accepted with my credit history and FICO scores. 

thanksss Smiley Happy


I would try to stick with the credit union. If not that one, then another. That way your loan wouldn't get tagged as a "consumer finance account". And your rates would probably be lower.


Not my experience.  Last month (Dec 2019), I obtained a personal loan from PenFed; it's been tagged as a 'Consumer Finance Account'.  It hasn't impacted my scores much -- only my BankCard 3 (770) and my AutoScore 8 (825) note its presence.


How did you identify that your PenFed loan was identified as a CFA?




Discover 22K ---------------------------- Credit Union MC 17K
Cap1 QS 11K ---------------------------- Barclay 3.4K
AMEX Blue Cash AU 15.5K ------ Barclay Apple AU 10K
AMEX BCP 15K
1 Installment loans:
Auto 60K /

AMEX Hilton Aspire 25K
Vantage 3.0: TU:738 EQ: 737 03-17-2020
Ch. 7 DC 12/2014
Message 14 of 14
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