Loan

Submitted by McneilSmith on Sun, 05/03/2009 - 22:27

Can i get a personal loan in the amount of 15k with a credit score of 740 i make good money but need this for home upgrades.

Hi smith welcome to the forums. With a score of 740 i do think you should qualify for the loan. But it depends on how much debt you have and how much income you have as to if the bank will loan you that much money. But as far as the fico score 740 will be good enough.

Sun, 05/03/2009 - 22:29 Permalink

A score of 740 is considered a good credit score for getting a line of credit at attractive rates. However, the amount of loan you can get also depends upon your income along with your score. I think that you should check it out with your creditor whether you qualify for such amount or not.

Mon, 05/04/2009 - 10:22 Permalink

A loan is a type of debt. This article focuses exclusively on monetary loans, although, in practice, any material object might be lent. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower.
The borrower initially does receive an amount of money from the lender, which he has to pay back, usually but not always in regular installments, to the lender. This service is generally provided at a cost, referred to as interest on the debt. A loan is of the annuity type if the amount paid periodically (for paying off and interest together) is fixed.
A borrower may be subject to certain restrictions known as loan covenants under the terms of the loan.

Fri, 05/08/2009 - 07:43 Permalink
rachael (not verified)

There are certain eligibility criterias to qualify for a personal loan. They are as follows :

1) You should either be a salaried professional or self-employed.
2) You will also be required to show proof of your income if you are employed, and tax returns if you are self-employed.
3) You must be older than 18 years when applying for the loan. And you must not be older than 65 years of age at the completion of the loan.

As far as your credit score is concerned it is good enough. To be on the safer side, you could check for any negative listings in your credit report that needs to be updated. You could also pay off an outstanding debt, if you have any. Once you have done your homework, you do not face denial for a loan application as well as easily get a loan at the lowest interest rates.

Fri, 05/08/2009 - 08:45 Permalink

Instead of going for Personal loan, one should go for loans from one's employer as so many employer do offer these facilities to their employees.

Interest rate is really very low.Apart from this, it is directly deducted from your salary so it is also a good thing that person is not needed to worry about missing the deadlines.
try this option, HR people can guide you about this in detail.

keep us informed.

:arrow: :arrow: :arrow:

Thu, 05/21/2009 - 05:32 Permalink
winnable (not verified)

There are literally hundreds of credit repair websites and a lot of them try to guarantee success but the reality is most of them are just a waste of money. They use methods of repairing your credit you can do yourself if you simply google credit repair templates. Their process is very lengthy and requires months and even years to get a lot of things removed and sometimes the bad marks can come back as some companies are very persistent, especially if you still owe them money.

The only guaranteed method to repair your credit is to pay off the old bills and get your derogatory balances to $0. "Well that isn't very helpful" is probably what you are saying. Since none of us just have cash laying around to do that there are other things you can do that are guaranteed to increase your FICO score practically overnight and start rebuilding your credit.

It's actually very simple. Sign up for Millennium Secured Credit Card and send them $300. Buy $90 worth of groceries on it and make the payments. Keep the balance under $90. Then sign up for alliedtrustdiamond.com and get a $10,000 unsecured credit card, buy something and make the payments. Do a google search for USA Shopping Club and sign up with them for $12,500 unsecured credit card buy something and make the payments, Eclub USA and get your $3,500 credit card and finally Horizon Gold and get your $500 credit card.

Once all of these companies report to the credit bureaus you are going to see an immediate increase in your FICO score. Guaranteed. Then you can work on getting the bad marks paid off and removed. It's much easier to get them permanently deleted if you don't owe them any more money.

Tue, 05/26/2009 - 17:55 Permalink

I think you have good credit score of 740.
You will definately get loan on it.

Wed, 10/07/2009 - 18:25 Permalink

Can you explain which type of loan you are looking for? can you through some light on your requirements?

Wed, 10/07/2009 - 18:26 Permalink

I think your credit score of 740 is very good. You can get FHA loan as well as conventioal loan. As its not the only qualification for getting loan but other factors may be useful for getting loan.

But the credit score of 740 is good enough to get loan for home.

Wed, 10/21/2009 - 16:13 Permalink

I would like to add that though the creditscore of 740 is good but still there is scope for improve the credit score upto 800+.
So I think you should still improve the credit score.

Wed, 10/21/2009 - 16:16 Permalink

As you are eligible for both loans FHA and Conventional loan.
You have enough credit score.

But as you have to decide wheather you really want loan? or do you want loan for anyother purpose.

Anyways you can qualify for loan as you have 740 credit score.

Sat, 11/07/2009 - 12:03 Permalink

I think you should go for FHA.........
You may get loan at low rate of interest as your credit score is good740.

Sun, 11/15/2009 - 16:58 Permalink
shah (not verified)

hi. i want to know if i am pre-qualified for loan.
i dont want lender to contact credit agencies before approval of loan

Thu, 12/31/2009 - 01:54 Permalink

hello, SHAH. I'm sorry, but, this is not a place that gives out loans, etc. Have you tried your local bank or Credit Union?

Fri, 01/01/2010 - 12:01 Permalink
Aaron (not verified)

Hi Smith,

740 is a good score to qualify for a loan, though more the credit score the better it is. However along with the score there are some other criteria too that can easily qualify you for a personal loan. The larger your paying capability the larger are you chances of getting the loan.

Thanks.

Tue, 01/26/2010 - 07:46 Permalink
Mark Johnson (not verified)

hi

Don't worry you can get loan you have good credit score of 740.
You will certainly get loan on it. But carefully.

Wed, 04/07/2010 - 06:32 Permalink

Hi.
"The best way to build credit back is to continue to pay bills as agreed, to use credit wisely,"
Gud luck..!

[link removed as per forum rules and guidelines]

Mon, 04/19/2010 - 04:57 Permalink
Enso (not verified)

Hi,You can receive your free cidert report once a year from each of the three cidert reporting companies and I believe it does not go against your score. If you sign up directly and pay for their services and keep checking your cidert report there, it will go against your score.

Sat, 08/31/2013 - 19:06 Permalink
Testeru (not verified)

Someone told you wrong, you can view your own personal cridet report as often as you would like and the inquiry will never show up. Viewing your own cridet report never lowers your score, the only inquiries that will lower your score is when you apply for new cridet lines.

Mon, 09/02/2013 - 10:59 Permalink

You can easily qualify for a personal loam as you earn good amount of money as well as have required credit score to qualify for a loan program.

Tue, 10/01/2013 - 10:42 Permalink
matzcrorkz (not verified)

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Thu, 10/31/2019 - 18:46 Permalink
James Carter (not verified)

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