A small rant before talking about upgrade personal loan approval. My credit rating is listed as "good to excellent" depending on who you check (720 average). Back in April I had to relocate across the state and charged my expenses on one of my larger credit limit CCs and having been slowly paying it off. My utilization was around 11% but my X1 card reduced my credit limit from 35k to 7k. I tried looking for credit cards that interest me to increase my available credit, but after two HPs I decided against anymore inquiries (citi declined me and penfed approved me for two cards with $3500 each). What's interesting is the last 3 cards I applied for had initial credit limits of 25k (initially 18k), 25k, and 10k (only one HP and that was for my debt consolidation loan [the credit union used the same HP for the credit card). Unsure what caused the drop to 10k, but I heard that was a common approval range for the Gemini card.
Anyway because of the decrease with x1 my utlization has gone up and my credit score has gone down (710 average). I was looking to refinance a debt consolidation loan I pulled a little while back but the "excellent" creditors either declined me or gave me a higher interest rate than what I was looking for. When I went to the "good" credit personal loan companies I received some average offers. I ended up going with upgrade with a 11% interest rate on a 20k loan. My goal was 9% or less and I did receive some prequalify rates that had interest rates around there but because of the utilization increase those offers disappeared (I checked in early december). I plan to pay it off early and hopefully I don't discover any deceitful or deceptive practices with them (this is my concern with going with a finance company that caters to bad - good credit).
Anyway, approval was instant (no documents were requested at all) and should be funded soon.
