@SouthJamaica wrote:
@Revelate wrote:Did buy the car (US Bank DS so no fun times there with payments) but going to play some silly FICO reindeer games if I can get away with it to try to test the payment functions at a few CU's.
Saw Penfed looks to be tested, so trying:
1) First Tech - looked to be approved, EX something for UW
2) Langley - We'll see, has SSL, EQ FICO 8 puller presumably.
3) Lake Michigan - They have a secured loan, unclear on collateral, TU puller presumably though they do an EX verification. $5 donation to ALS to join if you aren't in Michigan or parts of Florida.
If you're wondering how I came up with these 3: First Tech I have a relationship with and they're big and open to everyone, Langley not quite sure on size but appear to be open to everyone and EQ pullin, Lake Michigan just went down the list of largest CU's that had nationwide eligibility and TU pullers (there were several which apparently didn't as of a few years ago at least, namely Security Service and RBFCU both in Texas cause I personally tried, hard, several years ago haha).
Again I'm just playing reindeer games so I'm applying for outsized personal loans at least with the first two, pay back about half as soon as it funds, "borrow" the rest which I'm going to hold for about a month elsewhere and then pay the vast majority right back. It's going to look funny on the credit report but I don't think Chase is going to more than side eye it so I really don't care
.
Yes but aren't you killing your scores with all the new accounts?
Not really, doesn't really matter to my AAOA with 30 accounts on there already, I've already taken the hit from the auto loan for the AOYA reset, and inquiries are WTFever for me.
Really I'm not buying another house anytime soon, and I just bought my car, so what need have I for scores? I'm sort of flat anyway till that 30D late gets more age or gets deleted anyway.
Lake Michigan did an inquiry on EX for membership and I'm going to try a secured loan of some sort since their process looks weird, Langley pulled EQ but I got nothing from them so don't know what's going on there. First Tech gave me a loan, I tried one option and it counted as just one payment. Later this month I'm going to try to submit 4-5 payments and see if it pushes it out.
@spiritcraft1 wrote:The ideal would be a soft pull to join and a CU that doesn't pull for an SSL (or at least only a soft pull). Of course if you are already a member...
Well, really since inquiries don't matter past a year, the only significant issue for people prepping for a mortgage and since by several datasets installment loan reindeer games don't matter at all for 2/3 of the mortgage trifecta, it isn't a recommended solution there anyway.
I guess it's more "optimal" but really it doesn't matter that much.
@SouthJamaica wrote:
@Revelate wrote:
@Anonymous wrote:These can be crossed off the list as they can not be payed early without having the term recalculated: Penfed, Golden1, California Credit Union, and Stanford Credit Union.
Anyone else have any luck? Really hoping someone has some luck finding a new solution soon!
To confirm, was Penfed explicitly tested? At least previously you could do it from some posts I found here from years ago, but that could've changed and I haven't tried myself.
I didn't test it, but I did investigate it and found that the payment dates would be moved up.
Hrm I found some loan information from a while ago that suggested it indeed would be moved up. How did you investigate if I may ask?
Calling them isn't a valid way really, we know CSR's from all manner of banks can be badly wrong.
@Anonymous wrote:Thanks. What's the big advantage with having the loan open (with >91% paid down) for a long time vs. just a year or so?
I have only 8 months of US credit history, an ITIN, an Amex Platinum charge card and an Experian score of 683.
I'd like to improve my credit to get other (true) credit cards (thus improving my credit further), but if it helps, I wouldn't mind of course to keep an installment loan open, as long as I get the money I've paid back out again.
For me it's just important that there is no hard pull to get the loan since I feel my credit score is low enough as it is...
Having it open for a long time adds points long term but those points are not the same percentage value as scores rise. Meaning that a rise from 530 - 580 is a really big deal, less so if it takes you from 750-770. But if you have another loan reporting like a new car loan, there is really no benefit in doing the SSL from what I understand.
There are many CU's that offer a soft pull to join and many likely don't pull for the SSL. You have to call and ask I suppose. Check local CU's or look the following list...
@spiritcraft1 wrote:
@Anonymous wrote:Thanks. What's the big advantage with having the loan open (with >91% paid down) for a long time vs. just a year or so?
I have only 8 months of US credit history, an ITIN, an Amex Platinum charge card and an Experian score of 683.
I'd like to improve my credit to get other (true) credit cards (thus improving my credit further), but if it helps, I wouldn't mind of course to keep an installment loan open, as long as I get the money I've paid back out again.
For me it's just important that there is no hard pull to get the loan since I feel my credit score is low enough as it is...
Having it open for a long time adds points long term but those points are not the same percentage value as scores rise. Meaning that a rise from 530 - 580 is a really big deal, less so if it takes you from 750-770. But if you have another loan reporting like a new car loan, there is really no benefit in doing the SSL from what I understand.
There are many CU's that offer a soft pull to join and many likely don't pull for the SSL. You have to call and ask I suppose. Check local CU's or look the following list...
Open to Everyone National CU List
Holy cow, that list is amazing. Thank you for posting it. Who on earth compiled it?
@SouthJamaica wrote:
@spiritcraft1 wrote:
@Anonymous wrote:Thanks. What's the big advantage with having the loan open (with >91% paid down) for a long time vs. just a year or so?
I have only 8 months of US credit history, an ITIN, an Amex Platinum charge card and an Experian score of 683.
I'd like to improve my credit to get other (true) credit cards (thus improving my credit further), but if it helps, I wouldn't mind of course to keep an installment loan open, as long as I get the money I've paid back out again.
For me it's just important that there is no hard pull to get the loan since I feel my credit score is low enough as it is...
Having it open for a long time adds points long term but those points are not the same percentage value as scores rise. Meaning that a rise from 530 - 580 is a really big deal, less so if it takes you from 750-770. But if you have another loan reporting like a new car loan, there is really no benefit in doing the SSL from what I understand.
There are many CU's that offer a soft pull to join and many likely don't pull for the SSL. You have to call and ask I suppose. Check local CU's or look the following list...
Open to Everyone National CU List
Holy cow, that list is amazing. Thank you for posting it. Who on earth compiled it?
I can't remember now but it is out there... I have used it myself.
@Anonymous wrote:@spiritcraft1 wrote:
There are many CU's that offer a soft pull to join and many likely don't pull for the SSL. You have to call and ask I suppose. Check local CU's or look the following list...
Open to Everyone National CU List
That list is amazing, thanks for that.
Can anyone recommend a CU that won't do a hard pull (ideally no credit check at all), also if you get an SSL from them?
Since that list only covers credit pulls when signing up.
I could call them, but 1. I don't know which ones are good (customer service etc.) and 2. the CSR could be mistaken.
So it would be great if someone had a recommendation from personal experience.
My address is in Washington, D.C., if that matters.
I don't know the answer but there are a ton of CU's located close to DC.
I joined Apple FCU but not for thier SSL but for their secured card. Seems automatic and while it does not graduate, it keeps your history. They also approve their unsecured platinum starting at 580 (08) and they do have a decent rewards card. I may still get the secured but now am over 580 so am in limbo! They are a soft (TU) to join.
I would start calling! You will get an idea if you want to join on how they answer your questions.