Is Credit Strong better than Self Lender loan, any advice would be appreciated.Thank you and be safe.
Starting Score: 663
I don't know the details on those two. I would only recommend a 5+ year SSL. Are you eligble for an NFCU membership?
I would recommend reading the below from CreditGuyInDixie
Adding an installment loan -- the Share Secure technique
The Quest for an SSL alternative to Alliant
NFCU SSL
Here are two institutions that have SSL which you can pay in advance to 8.9% utilization without shortening loan term:
NFCU - membership restrictions.
SSFCU - geofence.
@AllZero wrote:I don't know the details on those two. I would only recommend a 5+ year SSL. Are you eligble for an NFCU membership?
I would recommend reading the below from CreditGuyInDixie
Adding an installment loan -- the Share Secure technique
The Quest for an SSL alternative to Alliant
NFCU SSL
Here are two institutions that have SSL which you can pay in advance to 8.9% utilization without shortening loan term:
NFCU - membership restrictions.
SSFCU - geofence.
I"m not eligble for NFCU, is SSFCU easy to get in? Thank you and be safe.
@razzy116 wrote:
@AllZero wrote:I don't know the details on those two. I would only recommend a 5+ year SSL. Are you eligble for an NFCU membership?
I would recommend reading the below from CreditGuyInDixie
Adding an installment loan -- the Share Secure technique
The Quest for an SSL alternative to Alliant
NFCU SSL
Here are two institutions that have SSL which you can pay in advance to 8.9% utilization without shortening loan term:
NFCU - membership restrictions.
SSFCU - geofence.I"m not eligble for NFCU, is SSFCU easy to get in? Thank you and be safe.
I do not know. I'm not a member. Check out their website to see if you reside in their region.
https://www.ssfcu.org/membership/why-choose-security-service/ways-to-join
@tropolis wrote:Credit Strong has more options.
Look at the 15 a month 1000 installment loan. Can cancel whenever you want.
Self your more tied down and you are limited. 15 month 1000 installment loan could go 10 years if you want and can cancel whenever I want with no penalty.
Did you join Credit Strong and did it help you with your credit and credit score? Thank you and be safe.
@tropolis wrote:Yeah, been a member for a couple months now.
I figure it like a Netflix subscription to report that I have an installment loan. I signed up for the 15 a month plan that reports a 1000 installment loan. Can pay it for 10 years or cancel tomorrow if I want. I cancel and I get some of what I paid back.
When it hit my scores went up 70 points and it shows that I have 1,000 left to pay off on the installment when I can really just cancel it whenever.
My goal is just to use it temporarily to build up payment history, then slowly phase it out or just cancel it if I end up with a mortgage or auto loan.
I'm going to sign up for it, the 15 a month loan. Thank you for your input. Thank you and be safe.