Savings balance not increasing after SSL payment

[masscredit]

With Andrew's, the loan can't be paid down to 91% without shortening the length of the loan. I'm going to be getting a SSL from PenFed soon.

[Kforce]

Every CU has different terms.

Most do not push out payment term with an extra payment.

Many do not credit payments and free up secured funds until paid in full.

Some have a lower interest loan rate and have funds tied up vs

higher interest and funds credited back.

"Andrews" might be quite different than "Penfed" or "Navy".

Looks like you need to have enough in account to pay it off without

being credited any money. 

[FicoMike0]

We've heard some problems with penfed. I haven't had any, I have savings accounts,checking and ssl, no credit. They only require a min payment of $25, you don't need a lot of cash. You do have to have the cash on deposit in regular savings for 30 days. Id do it sooner rather than later, it will become your new youngest account, that starts a 12 month clock, might as well get it ticking.

[masscredit]

@FicoMike0   I'm seeing how high my scores will go then will open the new SSL. I let a balance post to one of my accounts last month. That was 60% on Cap1. It will close at $0 next week so I might break 700. Personal goal there.  At that point I'll open the PenFed account. Hoping I don't take much of a hit for the new account. The benefit will outweight the few points that I might lose and I'll be in a better place with it.