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Personal Loan / PLOC Lender Recommendations?

Jazee
Contributor

Re: Personal Loan or Line of Credit? Best Lenders?

I was initially under the false impression Average Age of Accounts didn't include closed accounts.  So at this point, since I opened a couple new credit cards in the past 2 months, and plan to get one more rewards card, I'm better off building my credit limit on my NFCU Visa which is at 10%, and just use the cash advance for a temporary personal loan as opposed to adding a new personal loan account and thereby dropping my AAoA down even further.   That's probably the best rate I'd get on a personal loan anyways.

 

 

Message 11 of 13
Morehouse3000
Frequent Contributor

Re: Personal Loan / PLOC Lender Recommendations?


@Jazee wrote:

My scores are currently in the 715-735 range. Any recommendations on best place to go for a Personal Loan or Line of Credit.  I've got some old debt I need to settle but am cash poor right now. I also am a Sole Properietor so not sure if I should instead apply for a Small Business Loan for more favorable terms? 

 

Also, wouldn't a personal line of credit but more advantageous as can't you keep those indefinitely and therefore build a long payment history as opposed to a 3/4/5-year personal loan?  I bank with Chase and have a DCU (Digital Credit Union) account that I've never used. I only opened the DCU account a couple years ago to get an Auto Loan but ended up using a different lender.  I heard their credit card cash advance interest rate is the same as the regular rate.  Seems like the rate on the Personal Loan/LOC would be better than a DCU CC?

 

Other names I've heard thrown around are SoFi, Upstart, Lightstream, etc.  Also I have USAA Checkin/Savings/CC.

 

 

 


Navy Federal Plat credit card has rates in single digits

Message 12 of 13
oorhett
New Contributor

Re: Personal Loan / PLOC Lender Recommendations?

Penfed has a Prequal Page for Personal loans SP 

https://ficoforums.myfico.com/t5/Personal-Finance/Penfed-Personal-Loan-Prequalify-Tool/m-p/6060399



BK 7 5/19 Discharged 09/19
Beginning Scores - EQ 579, TU 565
Current Scores(Vantage) - EQ 665, TU 651 / (Fico8/9) EX^8 672 TU^8 649 EQ^9 635
Mortgage (02/21) - EX 670 / TU 663 / EQ 658
Message 13 of 13
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