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The Quest for an SSL alternative to Alliant

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Re: The Quest for an SSL alternative to Alliant

Try a different branch. A few were acquired by SSFCU back in 2011 and were more flexible.

 

If you desparately need one, a PMB with street address from UPS, USPS (premium only), Post Mart should work as well. Some may even accept PDF statements.

Message 371 of 402
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Re: The Quest for an SSL alternative to Alliant


@TtiGeR wrote:

Try a different branch. A few were acquired by SSFCU back in 2011 and were more flexible.

 

If you desparately need one, a PMB with street address from UPS, USPS (premium only), Post Mart should work as well. Some may even accept PDF statements.


Ya looks like I'd have to try calling up individual branches. I called the corporate number last time.

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Message 372 of 402
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Super Contributor

Re: The Quest for an SSL alternative to Alliant

If you can't get in to SSFCU, Alliant may have gotten rid of their SSL offerings (likely because of abuse of this method) but this does still work on their regular personal loans with them last I heard. It would be more interest and you would incur an HP and have to be approved but its an option.



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Message 373 of 402
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Senior Contributor

Re: The Quest for an SSL alternative to Alliant

Keep in mind your attitude when you call. Do not act like you’re hoping and searching for a way for membership. Assume the sale. You already know you qualify, you’re simply calling to join.













(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated March 2020.

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? (clean/dirty), Number of accounts open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AoYR-Age of Youngest Revolver (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new accounts, with open loan on record.
If you don't know where you fall, just list whether you have any baddies, your number of open and closed accounts, AoOA, AoYR and whether you have a loan on record.
For utilization questions, list individual and aggregate utilizations, revolving and installment. please.
Message 374 of 402
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Super Contributor

Re: The Quest for an SSL alternative to Alliant

OK this isn't as good as the Alliant SSL was, or as the NFCU SSL is, but it is a vehicle for someone who (a) has no open installment loans, and (b) is not an NFCU member, to play in the "reindeer games" -- i.e. get a long term installment loan and pick up FICO 8 points for credit mix and installment loan utilization percentage.

 

It's an unsecured installment loan from Lightstream.

 

They are very flexible about the initial length of the loan, and whenever you make an extra payment they give you the option of reducing the amount of your monthly payment, which I am fairly certain would, if you accept the lowered monthly payment, translate into keeping the duration of the loan constant.

 

Of course it means a hard pull when you apply, and the interest is higher, but it's a very user friendly company to deal with, and the terms and underwriting standards are very reasonable.


Total revolving limits 645500 (569500 reporting)



Message 375 of 402
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Moderator Emeritus

Re: The Quest for an SSL alternative to Alliant


@SouthJamaica wrote:

OK this isn't as good as the Alliant SSL was, or as the NFCU SSL is, but it is a vehicle for someone who (a) has no open installment loans, and (b) is not an NFCU member, to play in the "reindeer games" -- i.e. get a long term installment loan and pick up FICO 8 points for credit mix and installment loan utilization percentage.

 

It's an unsecured installment loan from Lightstream.

 

They are very flexible about the initial length of the loan, and whenever you make an extra payment they give you the option of reducing the amount of your monthly payment, which I am fairly certain would, if you accept the lowered monthly payment, translate into keeping the duration of the loan constant.

 

Of course it means a hard pull when you apply, and the interest is higher, but it's a very user friendly company to deal with, and the terms and underwriting standards are very reasonable.


My only concern with doing such a thing: is Lightstream a CFA?

 

I'd seriously look into doing an unsecured loan with Alliant or a bunch of other CU's (or even USBank given their auto loans absolutely are reindeer gameable) to do this rather than Lightstream or any of the other loan pushers these days... it might not be a major ding but it's listed as a reason code on every single score I have access to on both EQ and EX... and as such, worth avoiding if it's flagged as such, or maybe even if not given these things apparently change over time.




        
Message 376 of 402
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Super Contributor

Re: The Quest for an SSL alternative to Alliant


@Revelate wrote:

@SouthJamaica wrote:

OK this isn't as good as the Alliant SSL was, or as the NFCU SSL is, but it is a vehicle for someone who (a) has no open installment loans, and (b) is not an NFCU member, to play in the "reindeer games" -- i.e. get a long term installment loan and pick up FICO 8 points for credit mix and installment loan utilization percentage.

 

It's an unsecured installment loan from Lightstream.

 

They are very flexible about the initial length of the loan, and whenever you make an extra payment they give you the option of reducing the amount of your monthly payment, which I am fairly certain would, if you accept the lowered monthly payment, translate into keeping the duration of the loan constant.

 

Of course it means a hard pull when you apply, and the interest is higher, but it's a very user friendly company to deal with, and the terms and underwriting standards are very reasonable.


My only concern with doing such a thing: is Lightstream a CFA?

 

I'd seriously look into doing an unsecured loan with Alliant or a bunch of other CU's (or even USBank given their auto loans absolutely are reindeer gameable) to do this rather than Lightstream or any of the other loan pushers these days... it might not be a major ding but it's listed as a reason code on every single score I have access to on both EQ and EX... and as such, worth avoiding if it's flagged as such, or maybe even if not given these things apparently change over time.


Honored to be visited by the inventor of the "reindeer games" himself Smiley Happy

 

I was concerned about the CFA tag myself, and have been looking at my EX FICO 2 to see if any CFA reason code popped up. Haven't seen it so far. I will update if it does pop up anywhere.

 

The thing about Lightstream -- and the only reason I mentioned it in this thread -- is that it seems to offer that option of extending the loan maturity back to its original maturity every time you prepay.  I seriously doubt that the others you mention will offer that.

 

 


Total revolving limits 645500 (569500 reporting)



Message 377 of 402
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Moderator Emeritus

Re: The Quest for an SSL alternative to Alliant

Extending the loan maturity? I am still of the opinion the majority of lenders don’t cut it short. Out of something like 7 loans I have carried two cut it short.

DCU does not work for reindeer games, First Tech does not either but everyone else I have actually tested does.

The problem with this thread is a lot of it was determined by calling CSR’s which isn’t legit and known to get false information.

Penfed was listed as not working then Pizza went and tried it and hey worked.

I’m halfway paid down on USBank and works and Alliant we know works too historically not sure I mentioned any others by name Smiley Wink.



        
Message 378 of 402
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Super Contributor

Re: The Quest for an SSL alternative to Alliant


@Revelate wrote:
Extending the loan maturity? I am still of the opinion the majority of lenders don’t cut it short. Out of something like 7 loans I have carried two cut it short.

DCU does not work for reindeer games, First Tech does not either but everyone else I have actually tested does.

The problem with this thread is a lot of it was determined by calling CSR’s which isn’t legit and known to get false information.

Penfed was listed as not working then Pizza went and tried it and hey worked.

I’m halfway paid down on USBank and works and Alliant we know works too historically not sure I mentioned any others by name Smiley Wink.

Then I stand corrected.


Total revolving limits 645500 (569500 reporting)



Message 379 of 402
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Re: The Quest for an SSL alternative to Alliant

I'd like to try these reindeer games. I could spare about $1800 for this, though I'd feel much better around $1300. Could anyone offer me any advice about the longest SSL terms I might be able to find for this? I am eligible for NFCU. Would any of the other CUs offer longer terms? Is there any hope at all of a 60 month term with less than $3000?

 

Thank you all very much.

Message 380 of 402
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