kforbes86 - awesome! Congrats on your loan. There is still some lending in them thar' hills! Yes! Your rate is ever so low and no hard inquiry. I'd say you done guud!

ColoNative - USAA Federal Savings Bank has announced that they will be opening a real brick and motar banking facility in Colorado Springs, CO. Also, they amended their member requirements. You may be eligible?!

Wanderer-I didn't know about the branch opening. They do have offices in Colorado Springs already, so an actual branch does make sense (plus the Air Force is down there). Pentagon FCU and Digital FCU also have branches down in the Springs. I was able to join Pentagon through a relative that had already joined while in the service. I am not sure it would work for USAA though since it isn't a parent or spouse..... but I am glad to see that they are selective with their membership.

So i did end up getting my personal loan today. it was very fast and easy since i am already a customer with my checking account. i got the $1,000 loan, and put the money directly into my savings. term is 12 months and interest rate is 3.26%. my payments monthly are $84.81 a month. they had a cashiers check in my hand about ten minutes after completing the loan paperwork. the loan officer did tell me that they only report to experian and transunion, not equifax. i am not complaining though. i am happy to have gotten a good deal. having an installment loan reporting should help me out. the other thing is they did not even do a hard pull on my credit reports. only a soft inquary on experian.

ColoNative - USAA Federal Savings Bank has announced that they will be opening a real brick and motar banking facility in Colorado Springs, CO. Also, they amended their member requirements. You may be eligible?! ...hey hey hey... you may have a present yet for yourself!

thanks colo. i am going after work tomorrow to get the loan set up. i called and talked to a loan officer at the branch i use and she said since i got the pre-approval from them because i am already a customer, i am basically guarunteed to get the loan. i can get whatever i want from $100 to $1,000 in $100 increments, and can get either a 6 month or 1 year term too.

That is a great deal. Congrats.

thanks colo. i am going after work tomorrow to get the loan set up. i called and talked to a loan officer at the branch i use and she said since i got the pre-approval from them because i am already a customer, i am basically guarunteed to get the loan. i can get whatever i want from $100 to $1,000 in $100 increments, and can get either a 6 month or 1 year term too.

thanks again hjm. it is an all around good deal then, and you can't beat the 3.26% interest rate either.
not sure what my credit scores are now, but they must be getting better, this is the first loan i have been offerd with good terms.

3.26% for a personal loan? That is not bad at all! Most personal loans (if you can even find them anymore) are over 10%

Like HJM said, it helps to have a variety of credit, so if you don't already have an auto loan or student loan, this could help your installment portion of the score. I also noticed a jump in my credit after buying my car. Of course, I checked the score a good six months after I bought it so I could not tell you how much it went down initially.

Cash back starts at $50 with increment of $25 up to $175 to which you request a check and they will mail it to you.

Thanks, Eugene. They have been sending me offers but nowhere on the offers does it say how the cash back is redeemed.

Yeah, that's a very competitive interest rate. It'll be a win-win situation because you will have an extra $1,000 in checking/savings and will be improving your credit.

Good luck on the application and keep us posted.

thanks again hjm. it is an all around good deal then, and you can't beat the 3.26% interest rate either.
not sure what my credit scores are now, but they must be getting better, this is the first loan i have been offerd with good terms.

Kforbes, auto loans and personal loans are factored into your scores as installment loans. FICO likes to see a mix of credit so by adding an installment loan to your reports, you will see an increase in your scores, not a decrease.

When I bought my truck two years ago, my scores jumped up by 20 points if I remember correctly.

thanks hjm. they have been slow at reporting since i opened my account, just never THIS slow. i will wait till after the 15th and pull another report and see.

i got an offer from my bank for personal loan of up to $1,000, for a term of 12 months and interest rate of only 3.25%. if i do go get a loan, would it lower my score initially opening the installment loan? i have heard it does. i am thinking it would help with types of credit used since i do not have any other installment loans.

So all you Chase Freedom cardholders,

We all know you get cash back, but how is it redeemed? Do they send a check automatically on an anniversary date? When you reach $50? Or do they credit the account?

Cash back starts at $50 with increment of $25 up to $175 to which you request a check and they will mail it to you.

Is fund transfer the same as debt consolidation?

Hanna, I think they're the same with debt consolidation having a more enchanting sound.

My question is: Is debt consolidation or fund transfer a sound move especially when paying dues for multiple credit cards?

So all you Chase Freedom cardholders,

We all know you get cash back, but how is it redeemed? Do they send a check automatically on an anniversary date? When you reach $50? Or do they credit the account?