I received a check sometime in June and after consideration, I cashed mine in August. I was hoping for a boost in my credit score, but that didn't happen. I'm paying the monthly minimum and will pay off the balance after the loan has reached a year. A couple of weeks ago, I received a pre-approval for their CC. I wasn't looking to add to my CCs, but the low interest rate is quite intriguing. You never know if you'll need to carry a balance. I also like the idea of the 0% APR and no fee for balance transfer for 6mths offer. Could come in handy for the furniture purchases I'm about to make. And yet I'm hestitant to pull the trigger. I see many of you are interested in this card. Is it just because of the interest rate, or is there something I'm missing? I'm only using 4/6 CC, which is about to be cut down to 3 and 90% goes to my Discover card. I'm just not interested in getting another card to add to my home safe. But an offer to receive a CC with an interest rate below 8% seems too good to pass up. I also assume this means only another soft pull similar to the loan.
I also received a preapproval for their card. Didn't and won't be pulling the trigger anytime soon. Lol
I'd probably be denied anyway. I must wait a year or two before I hit them up on one of the card offers.
Yes, this card is mainly for carrying balances if one needs to. That's the only reason I would have this card. Other than that nothing special.
Did the pre-approved personal loan as well. Paid it off a few months ago. Only kept it for 4 or 5 months. Did it just to add strength to my file. It will report for 10 yrs.
I send $10 a month to the account to keep it active. I want to keep SDFCU around and available when and if I really need them.
This will most likely be a HP for the CC. They are pretty stringent on the requirements. Much more so than the personal loan..though the reasoning behind it, makes little sense to me.
Oh, so you think it'll be a hard pull. I had hoped since I'm a SDFCU member that it would only be a soft pull. I may call one of their Loan Specialist to be sure because I'm not looking for another inquiry on my report.
Yes, I believe this will be a HP. HP on EX unless they've changed CBs.
Hmmmmm, EX is currently my highest CS (763 as of yesterday), but it has 5 inquries (3 or 4 fall off by Sept). When I call the LS, I'll report back what they say.
Cool, let us know. You'll probably be fine either way. 5 inqs is nothing.
Confirmed. It would be a HP.