The Quest for an SSL alternative to Alliant

[tparvaiz]

Hi, I am currently in IL and trying to improve my credit score (for mortgage and car lease/finance) in a short span. One of the technique that I would like to use (suggested by experts here in this thread and in other's too) is getting a credit builder loan and paying it off by 91.1% almost immediately to boost my scores and the remainder 9% in the next x number of years

• I have equifax score in 700s but the other 2 TU/EX is in mid to low 600s
• Navy is not an option for me as I don't have any relatives in the forces. 

@CreditGuyInDixie : seems like you are suggesting Ideal Credit Union for my requirements. Please advise

Here is a list that I have consolidated through this thread that seems to be the answer (but I want somone to confirm it)

Andrews FCU

Ideal Credit Union

Security Service Federal Credit Union (SSFCU)

Thanks

[Anonymous]

Hi everyone. I haven't frequented this forum in a while. What are the latest banking institutions that allow SSL's? I read the last few pages and it wasn't very clear. I have no connection to military so I don't think I can open an NFCU account.

[Anonymous]

@Anonymous Well you came at a opportune time.  

@tparvaiz just verified that alliant will work, however there is no SSL. You have to use an unsecured personal loan, but it will have the same effect.

@tparvaiz BTW, unfortunately @Anonymous left awhile back and hasn't been seen in a long time. We definitely miss his knowledge and contributions.

[Anonymous]

can't i just get an unsecured personal loan from any bank then? with an unsecured loan theres a hard pull right? but no hard pull with savings secured loan?

[Anonymous]

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@Anonymous wrote:

can't i just get an unsecured personal loan from any bank then? with an unsecured loan theres a hard pull right? but no hard pull with savings secured loan?

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The Alliant loan works like an SSL. You can pay it down to 8.9% and it will extend the time before the next payment accordingly. The problem is that Alliant can be sticklers for credit scores and the personal loan rate will obviously be higher than a SSL would. If you don't have NFCU or SSFCU for options for a real SSL though, Alliant isn't a bad way to go. 

[tparvaiz]

@Anonymous 

Aliant uses TU vintage 4.0. How can I get access to this score (I have direct access to transunion as well myFico.com)

Thanks

[Anonymous]

@tparvaiz that's not good news. Very few lenders have adopted VS4, we only knew of Synchrony, and the only way I know to source that score is from Synchrony, unless someone else knows.

To source it from Synchrony you have to have a Credit Card account with them as far as I know. 

Did you read above that SSFCU also works? (as a fallback)

@AllZero @M_Smart007 @Anonymous did you hear this? Alliant is using VS4! Is there anyway to source that score from anywhere that you guys know of?

[Anonymous]

I don’t know if you can access that directly from trans-union maybe? you did mean Vantage score 4 correct?

@Anonymous do you know what minimum credit score is and what the minimum amount is to get a decent term?

[M_Smart007]

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@Anonymous wrote:

@tparvaiz that's not good news. Very few lenders have adopted VS4, we only knew of Synchrony, and the only way I know to source that score is from Synchrony, unless someone else knows.

To source it from Synchrony you have to have a Credit Card account with them as far as I know. 

Did you read above that SSDCU also works? (as a fallback)

@AllZero @Saeren @M_Smart007 did you hear this? Alliant is using VS4! Is there anyway to source that score from anywhere that you guys know of?

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@Anonymous, I only know of Synchrony (have to have an open account)

[M_Smart007]

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@Anonymous wrote:
I don’t know if you can access that directly from trans-union maybe? you did mean Vantage score 4 correct

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TransUnion gives Vantage 3.0  .. just like wallethub and CK