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Loan with "the credit union "
Has anyone ever had a loan with the credit union? I was told by a friend of mine that they may be a likely source to give out a personal loan. Can anyone pass on any information about them?
I am trying to build up my credit score, I have no marks on my credit file as I haven't ever taken out much credit in the past.
Also would a loan from the credit union be looked upon like a payday type loan ?
I am trying to build up my credit score, I have no marks on my credit file as I haven't ever taken out much credit in the past.
Also would a loan from the credit union be looked upon like a payday type loan ?
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Comments
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Ignore your credit score (it's irrelevant), and never take out a loan to try to change it.
If you are looking to build a credit history, get a credit card, use it regularly and clear it in full each month.0 -
Do you actually need a loan ? If not then a credit is more than sufficient.0
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Has anyone ever had a loan with the credit union? I was told by a friend of mine that they may be a likely source to give out a personal loan. Can anyone pass on any information about them?
I am trying to build up my credit score, I have no marks on my credit file as I haven't ever taken out much credit in the past.
DO NOT EVER BORROW MONEY TO INCREASE A CREDIT SCORE. The credit score is a fictitious makey uppey number that only you see. The lenders don't use it.
Get a credit card, repay the bill in full every month. Doesn't matter what the interest rate is as you won't be paying any because of the above. If you can, see if you can get a cashback one so you get paid for using it.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
It is highly likely that a credit union will want you to save with them first before they will lend you anything.
To build up your imaginary credit score get a credit card such as Aqua or Capital One - spend a little on it and pay it back in full EVERY month.
Other things such as being on the electoral role will also help.0 -
jonesMUFCforever wrote: »To build up your imaginary credit score get a credit card such as Aqua or Capital One - spend a little on it and pay it back in full EVERY month.
or:
To build a positive credit history that might well improve your chances of getting a mortgage in the future get a credit card such as Aqua or Capital One - spend a little on it and pay it back in full EVERY month.loose does not rhyme with choose but lose does and is the word you meant to write.0
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