The Quest for an SSL alternative to Alliant

[Anonymous]

A CSR at NFCU was telling me that many people just take out a $250 loan every 6 months to keep a loan on their credit report.. lol Anyone here actually doing this instead of 3k for 5 years?

Maybe I am using too much logic but I would think if you need $250 every 6 months and it shows up on your credit reports like that... a creditor will just wonder why you don't go get a part time job and make that in a week or month.

[UncleB]

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@Anonymous wrote:

A CSR at NFCU was telling me that many people just take out a $250 loan every 6 months to keep a loan on their credit report.. lol Anyone here actually doing this instead of 3k for 5 years?

Maybe I am using too much logic but I would think if you need $250 every 6 months and it shows up on your credit reports like that... a creditor will just wonder why you don't go get a part time job and make that in a week or month.

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I would personally avoid that since you're going to get a new account 'ding' every six months, which will partially negate the 'bump' of having an installment loan to begin with. 

Having a brand-new account start reporting every six months would also pull your AAoA down.

[Anonymous]

I would also avoid having discussions with the CSRs at lenders about the Share Secure Loan Technique.  We have had more than one lender shut down their SSL product or their prepayment policy because lots of people kept talking to them about the technique.

If you have questions, post them on the forum, but don't ask the bank or CU itself.

https://www.doctorofcredit.com/dont-call-the-bank/

[Anonymous]

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@PicoFico wrote:

Which criteria couldn't you meet for NFCU? I ask because I'm researching the same path for myself... 

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I haven't tried, it seems like they are open for anyone to join who has some affiliation with the military. The challenge for me is that I'm a nonresident alien and I don't feel comfortable asking friends if they can say I'm a household member just because someone from their family is in the military.

How does address verification work with these CU's? Can I just give a friend's address in Texas for joining SSFCU? Or do they require a utility bill? Can I just change my profile information with my bank and send them a bank statement that shows a Texas address? I would feel much more comfortable with that than asking someone to lie for me.

[Anonymous]

Oh lol, turns out my friend (who lets me use his address) is an NFCU member. But he says I can just forget about joining as a household member because my name would have to be on a utility bill. Apparently they are very strict. His wife is in the navy and he had to send in a marriage certificate in order to join. Sharing the same address wasn't enough.

[UncleB]

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@Anonymous wrote:

Oh lol, turns out my friend (who lets me use his address) is an NFCU member. But he says I can just forget about joining as a household member because my name would have to be on a utility bill. Apparently they are very strict. His wife is in the navy and he had to send in a marriage certificate in order to join. Sharing the same address wasn't enough.

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Yeah, you don't want to mess around with NFCU.  People who try address shenanigans with them are usually the ones you read about with locked accounts (including their "sponsors").  Your friend is wise to not want to tread there since it could impact him and his wife as well.

Also, friendly reminder... we can't discuss falsifying address info - or any other application item - on myFICO.  It's fine to discuss applying as an actual roommate or household member, but any discussion beyond that (out-of-state friend/relative, etc.) will have to be done elsewhere.

[Anonymous]

Understood, sorry!

[PicoFico]

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@UncleB wrote:

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@Anonymous wrote:

Oh lol, turns out my friend (who lets me use his address) is an NFCU member. But he says I can just forget about joining as a household member because my name would have to be on a utility bill. Apparently they are very strict. His wife is in the navy and he had to send in a marriage certificate in order to join. Sharing the same address wasn't enough.

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Yeah, you don't want to mess around with NFCU.  People who try address shenanigans with them are usually the ones you read about with locked accounts (including their "sponsors").  Your friend is wise to not want to tread there since it could impact him and his wife as well.

Also, friendly reminder... we can't discuss falsifying address info - or any other application item - on myFICO.  It's fine to discuss applying as an actual roommate or household member, but any discussion beyond that (out-of-state friend/relative, etc.) will have to be done elsewhere.

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Just so everyone is clear, out of state relative is a genuine method of gaining membership if they're members or non-members who have served.

[UncleB]

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@PicoFico wrote:

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@UncleB wrote:

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@Anonymous wrote:

Oh lol, turns out my friend (who lets me use his address) is an NFCU member. But he says I can just forget about joining as a household member because my name would have to be on a utility bill. Apparently they are very strict. His wife is in the navy and he had to send in a marriage certificate in order to join. Sharing the same address wasn't enough.

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Yeah, you don't want to mess around with NFCU.  People who try address shenanigans with them are usually the ones you read about with locked accounts (including their "sponsors").  Your friend is wise to not want to tread there since it could impact him and his wife as well.

Also, friendly reminder... we can't discuss falsifying address info - or any other application item - on myFICO.  It's fine to discuss applying as an actual roommate or household member, but any discussion beyond that (out-of-state friend/relative, etc.) will have to be done elsewhere.

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Just so everyone is clear, out of state relative is a genuine method of gaining membership if they're members or non-members who have served.

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Yes, with NFCU a child, sibling, parent or grandparent is allowed as a sponsor regardless of where they live. 

What we can't discuss here is using an address that isn't yours to claim 'household member'... that's what I was stating above.

[PicoFico]

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@UncleB wrote:

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@PicoFico wrote:

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@UncleB wrote:

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@Anonymous wrote:

Oh lol, turns out my friend (who lets me use his address) is an NFCU member. But he says I can just forget about joining as a household member because my name would have to be on a utility bill. Apparently they are very strict. His wife is in the navy and he had to send in a marriage certificate in order to join. Sharing the same address wasn't enough.

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Yeah, you don't want to mess around with NFCU.  People who try address shenanigans with them are usually the ones you read about with locked accounts (including their "sponsors").  Your friend is wise to not want to tread there since it could impact him and his wife as well.

Also, friendly reminder... we can't discuss falsifying address info - or any other application item - on myFICO.  It's fine to discuss applying as an actual roommate or household member, but any discussion beyond that (out-of-state friend/relative, etc.) will have to be done elsewhere.

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Just so everyone is clear, out of state relative is a genuine method of gaining membership if they're members or non-members who have served.

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Yes, with NFCU a child, sibling, parent or grandparent is allowed as a sponsor regardless of where they live. 

What we can't discuss here is using an address that isn't yours to claim 'household member'... that's what I was stating above.

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Absolutely!!