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Personal Loan Best Options

MazeSD619
Valued Member

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:

@Sadie2019 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 22-Oct-2022 ]
EQ8114 INQ (CC, HELOC, 2 mort)tbd
EX8135 INQ (3 CC, 2 mort)6y11m
TU8154 INQ (2 CC, 2 mort)tbd
4/243/12AoYA 0m | AoOA 23y6m~4%
Message 12 of 14
CreditCuriosity
Moderator Emeritus

Re: Personal Loan Best Options


@expatCanuck wrote:

@SouthJamaica wrote:

@Sadie2019 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

NFCU Platinum 50k | NFCU More Rewards 30k | BofA Merrill+ 45k | BofA Premium Rewards 25k | Affinity FCU Cash Rewards 22.5K | CSP 40k | Chase Amazon Visa 20k | Chase Freedom Flex 5k | Chase IHG 1k | Chase Ritz 20k | AOD FCU 20k | FNBO Duck Unlimited 25k | PNC Cash Rewards 22.5k | Citi Premier 14k | Citi Custom Cash 31k | US Bank Alt Connect 20k | Union Bank Cash Rewards 15.5k | SECU 20k | Discover 20k | William Sonoma Visa 35k | Farm Bureau 18.5k | Synovus Cash Rewards 18.5k | Regions Cash 14k | TD Cash 6k | Penfed Cash Rewards 30k | Penfed Pathfinder 20k | 5/3rd Trio 10K | BMO Harris Cash 18.5k | Barclay's Red AA 22k | MFCU 20k | Amex Business Cash 30k | Amex Business Prime 20k | Amex Delta Business Platinum 10k | AMEX BBP 15k
Message 13 of 14
Openwater
Established Contributor

Re: Personal Loan Best Options


@expatCanuck wrote:

@SouthJamaica wrote:

@Sadie2019 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 12K
Cap1 QS 10K ---------------------------- Barclay 3.4K
AMEX Blue Cash AU 15.5K ------ Barclay Apple AU 10K
AMEX BCP 22K
2 Installment loans:
Auto 15K / 39K ---------- Auto 28K / 39K
Vantage 3.0: TU:738 EQ: 737 03-17-2020
Ch. 7 DC 12/2014
Message 14 of 14
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