The Quest for an SSL alternative to Alliant

[Jkrause702]

That's what I thought as well.

I don't doubt you, but I had read some accounts in various places of that particular mortgage score apparently being somewhat sensitive to lack of installments. 

I'm baffled, but nonetheless still curious about the PenFed question for future reference at least.

[Anonymous]

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@Jkrause702 wrote:

That's what I thought as well.

I don't doubt you, but I had read some accounts in various places of that particular mortgage score apparently being somewhat sensitive to lack of installments. 

I'm baffled, but nonetheless still curious about the PenFed question for future reference at least.

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@Jkrause702 Well I stand corrected. I did go look at the reason codes and I don’t see one for EX2 that tracks open loans. 5/4/2 has the code for no loan and high loan balance, but again they are not very reactive to it.

That would leave average and oldest, so that may not be it, as most of the people that have tested it have seen little or no reaction on the mortgage Scores. Maybe there's something about your profile that made that help.

if you'd like us to speculate, can you give us some details about your profile? Oldest account, youngest Revolver, youngest account? Number of bankcards? number of non-bankcard revolvers? number of loans? include both open and closed on everything. Average age of accounts? Average age of revolving accounts? any derogatories? If so tell me about them please. 

[Merc1776]

So they didn't let her get 60 months on $3,500? "Savings Secured Loan Payment Example: Share rate plus 2.00%. Loan amount of $3,000 at 2.25% APR for 60 months has a payment of $53." That is taken directly from their website.

[Ultros]

Just a note to foreigners that Alliant rejects unsecured loans if you are not a citizen or perm resident, regardless of your credit score. Wasted an TU HP for no reason.

Thanks to michaelsmith's DPs in the last 3 pages, I've successfully opened NASAFCU account (resident aliens accepted) and will be attempting to replicate his steps to get an SSL with HP in the next couple of months.

Just to confirm, account opening was an EX soft pull (did not freeze bureaus), they also asked me questions which were based on my credit report during the application process. ID is required from basically everyone, regardless or not whether it's frozen.

[coldfusion]

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@Ultros wrote:

Just a note to foreigners that Alliant rejects unsecured loans if you are not a citizen or perm resident, regardless of your credit score. Wasted an TU HP for no reason.

Thanks to michaelsmith's DPs in the last 3 pages, I've successfully opened NASAFCU account (resident aliens accepted) and will be attempting to replicate his steps to get an SSL with HP in the next couple of months.

Just to confirm, account opening was an EX soft pull (did not freeze bureaus), they also asked me questions which were based on my credit report during the application process. ID is required from basically everyone, regardless or not whether it's frozen.

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Within the context of this thread nobody should be prioritizing a new SSL with Alliant anyway - the whole rationale behind this thread existince in the first place was that they stopped issuing SSL loans that allowed early payment of part of the loan balance while retaining the original due dates on the remainder.

[Ultros]

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they stopped issuing SSL loans that allowed early payment of part of the loan balance while retaining the original due dates on the remainder.

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Correct, but they still issue non-SSL personal loans (unfortunately, only to PR and citizens) that cause a HP. Note that I mentioned "unsecured loan", not SSL in my original post.

From what I understand from the DPs, the personal loans work identically to what their SSLs used to work, minus the secured deposit. I'm willing to take one HP to set up a 5-year loan that reports and adds 30 points to FICO8.

The NASAFCU SSL also causes a HP, but it's my best option that I know of at this point.

[Anonymous]

The strategy works whether it’s secured or unsecured. It’s all about aggregate loan Utilization on 8/9.

[Ultros]

Following up on the previous DP that NASA FCU does in fact work for SSLs if you are non-PR and are willing to eat HP(s) for it.

Initially, I asked if there was any possibility to apply for SSL without going through the personal loan application system and getting a HP, and I was told that no, all loans had to go through that system.

Next, I tried freezing my EX and opening a loan anyway, but was instantly denied for having a frozen EX. Unfroze EX and sent a secure message through their system, which resulted in a double-pull from EX and EQ. Fortunately most banks around here do not pull EQ anyway, so there's no big loss. It then took about 2 weeks for them to approve the loan and request documents.

I then requested for the loan type to be switched to a SSL, and they requested SSN card and visa. Once the validation was done the loan was set up and I could view that in online banking. I can confirm that prepaying the loan for 8 months does shift the pay date by 8 months as required for SSLs to work, I did not try paying for longer than that since michaelsmith's DPs already suggest that >$250 payments would fail to shift the pay date. Now I'm just waiting for the loan to report to bureaus.