Best places to apply for a loan?

shadylane

shadylane

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Hey guys,

I'm looking to apply for loan so that I can consolidate my debt which is really not that much (6,000).
My credit score is 739 and I'm 24 years old. I tried apply for a loan with the Lending Club but they turned me down for the following reasons:


PROPORTION OF BALANCES TO CREDIT LIMITS IS TOO HIGH ON BANK REVOLVING OR OTHER REVOLVING ACCOUNTS
LENGTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED
LACK OF RECENT INSTALLMENT LOAN INFORMATION
AMOUNT OWED ON REVOLVING ACCOUNTS IS TOO HIGH

Any ideas?

Thanks!
 
What about your bank? Or if you are trying to consolidate credit card debt why not pay off all of your debt using the credit card with the lowest interest rate? It's a start at least...
 
Is your post missing a zero or something? Just pay them off, smallest to largest. Their's no point in consolidating 6k.
 
[quote name='shadylane']Hey guys,

I'm looking to apply for loan so that I can consolidate my debt which is really not that much (6,000).
My credit score is 739 and I'm 24 years old. I tried apply for a loan with the Lending Club but they turned me down for the following reasons:


PROPORTION OF BALANCES TO CREDIT LIMITS IS TOO HIGH ON BANK REVOLVING OR OTHER REVOLVING ACCOUNTS
LENGTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED
LACK OF RECENT INSTALLMENT LOAN INFORMATION
AMOUNT OWED ON REVOLVING ACCOUNTS IS TOO HIGH

Any ideas?

Thanks![/QUOTE]

hmm... just curious but why did you go with the "Lending Club"?

Best bet would be to try with your bank... if your score is correct they shouldn't have much problem doing the loan as long as your debt to income is in line. Other than that the only thing that could stop you there is that maybe you haven't had enough loans...

If that doesn't work... maybe try a credit union. They tend to be a bit more loose in what they look for.
 
[quote name='Javery']What about your bank? Or if you are trying to consolidate credit card debt why not pay off all of your debt using the credit card with the lowest interest rate? It's a start at least...[/QUOTE]

I did this^ awhile back.

It'd be best to wait for a new credit card offer with 0% (or anything under 4-5%) interest for a set amount of time. I paid off a little over $5,000 in a year.
 
[quote name='Bloodbooger']I did this^ awhile back.

It'd be best to wait for a new credit card offer with 0% (or anything under 4-5%) interest for a set amount of time. I paid off a little over $5,000 in a year.[/QUOTE]

Just keep in mind that if you don't completely pay the balance off before the promo is up, they add in all the interest you would have accumulated over that grace period.
 
Hi, dude. That is not a very big sum so any bank can give such a loan with no problem. If you already have a loan in the bank, then you can appeal to the credit company but be very careful when you read the agreement, because they can be very tricky sometimes. Not every company works honestly nowadays. I can say that I saw many people who had troubles and courts with loan companies because they didn't read the agreement carefully and didn't argue with stupid conditions. The best loan company which I know is https://credit-10.com/mx/. pay attention on it.

 
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Hello, I tried to obtain a bank loan to put a down payment on a property once, but everyone turned me down. As a result, I made the decision to save this money in cash. I found a lot of more info at paydaysay.com at the financial site, where there is an article on several techniques to save money for a down payment.

 
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