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Instant 20 point boost ! Secured loan success!

Established Contributor

Re: Instant 20 point boost ! Secured loan success!

just set up a ssl with navy .ex jump 28 point 580-608

fico 08 1/23//2018 tu 619 eq 627
ex 618 overstock src="http://ficoforums.
Message 11 of 15
Highlighted
Established Member

Re: Instant 20 point boost ! Secured loan success!


@Snowman888lvwrote:

 

I got a $500 secured loan with One Nevada Credit Union and immediately paid it down 90% so as soon as it posted it shows only a $50 balance. This is key because if it posts showing a full balance you could actually get a small drop in scores. Most people report 15-25 point fico boost. Keep in mind this only effective if you have no open loans on your report.


 

can you please confirm....?

did prepayment push your next payment way into the future? I am trying to figure out if OneNevada works like Alliant. You pay off your loan bellow 9% and loan stays open and reporting at 9% for many years?

Did they do any kind of credit check? Hard os Soft? I need a bank that does not check credit at all. 

I have many charge offs and lates....all paid off in full. But if anyone looks at my report I will be reject, so even a Soft check will not work for me.

 

I was told OneNevada does not do a Hard check for ssl but I am not sure about Soft check???

You can see if they performed a soft check on your credit report.

I would be happy to pay for any fees for you to pull all 3 credit reports and confirm this for me.

I could send you a visa gc or any other gc in amount double your cost.

 

thanks in advance

 

Message 12 of 15
Community Leader
Super Contributor

Re: Instant 20 point boost ! Secured loan success!

Hey Alexj.  I just sent Snowman a private message and asked him if he would hop back on this thread and tell us what ultimately happened with his One Nevada loan.  Snowman posted on the forum as recently as 10 days ago, so he is around.

 

Here is what I said to him:.  Hope we hear back!

 

=======

 

Hi Snowman.  You started a thread in June of last year.  You wanted to let us know that you had opened a Share Secured loan with One Nevada Credit Union.

 

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Instant-20-point-boost-Secured-loan-succe...

 

Someone just added to that thread and is wondering whether your paydown caused the loan to pay off early -- or were you able to keep it open for the original full term of the loan?  E.g. if the loan was a 36 month loan, is the loan still open and does it look like you will be able to keep it open for the full 36 months?

 

If you could let us know what happened that would be very helpful.  Thanks!

Message 13 of 15
Super Contributor

Re: Instant 20 point boost ! Secured loan success!


@CreditGuyInDixiewrote:

Hey Alexj.  I just sent Snowman a private message and asked him if he would hop back on this thread and tell us what ultimately happened with his One Nevada loan.  Snowman posted on the forum as recently as 10 days ago, so he is around.

 

Here is what I said to him:.  Hope we hear back!

 

=======

 

Hi Snowman.  You started a thread in June of last year.  You wanted to let us know that you had opened a Share Secured loan with One Nevada Credit Union.

 

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Instant-20-point-boost-Secured-loan-succe...

 

Someone just added to that thread and is wondering whether your paydown caused the loan to pay off early -- or were you able to keep it open for the original full term of the loan?  E.g. if the loan was a 36 month loan, is the loan still open and does it look like you will be able to keep it open for the full 36 months?

 

If you could let us know what happened that would be very helpful.  Thanks!


Sorry to be the bearer of ill tidings but One Nevada is a limited membership credit union:

 

"We're open and available to all of Clark, Nye and Washoe counties in Nevada plus family members of current members."

 

Current FICO8 EQ 774 TU 794 EX 772
Message 14 of 15
Community Leader
Super Contributor

Re: Instant 20 point boost ! Secured loan success!

Thanks SouthJ.  That alone would be dealbreaker for most of us -- and on top of it, it is quite possible that Snowman's big initial paydown caused his loan to close early.  Curious to hear what happened with that.  Your and my experience has been that just because a lender offers an SS loan doesn't mean that they will permit pre-payment.

Message 15 of 15