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Personal Loan Best Options

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Valued Member

Re: Personal Loan Best Options

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

Message 12 of 14
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Moderator

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

Message 13 of 14
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Frequent 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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