Tilted Forum Project Discussion Community - View Single Post

Averett · 10-26-2004, 05:38 AM

I have a couple of general questions. A few months back I applied at my bank for a personal loan and I was rejected. The bank said I could have possible received the loan if I had a cosign, but I didn't want to do that at the time. But now I'm thinking that this might be my best bet.

So I'm wondering, will it effect my credit score if I apply for a loan again? Last check, around May, my credit score was 680. From what I understand, that's not horrible, but it's not great either. I've got around $15,000 in credit card debt and nearly $1,200 left on my car loan. What I'd like to do is get a $20,000 or so loan, pay off all of my debt and have some left over so I'm able to get by without having to rely on my cards like I have lately.

In closing:
A) Did the original denial of loan effect my score?
B) Will it effect my score if I apply again and are denied?
C) If I need a cosigner, do banks generally require that the cosigner also belong to the same bank?
4) How trustworthy are online loan companies?

I haven't done much research yet, but I wanted to throw out some of these questions to you Tilted Finance folks

10-26-2004, 05:38 AM	#1 (permalink)
Averett Is In Love Location: I'm workin' on it	Personal Loan Questions I have a couple of general questions. A few months back I applied at my bank for a personal loan and I was rejected. The bank said I could have possible received the loan if I had a cosign, but I didn't want to do that at the time. But now I'm thinking that this might be my best bet. So I'm wondering, will it effect my credit score if I apply for a loan again? Last check, around May, my credit score was 680. From what I understand, that's not horrible, but it's not great either. I've got around $15,000 in credit card debt and nearly $1,200 left on my car loan. What I'd like to do is get a $20,000 or so loan, pay off all of my debt and have some left over so I'm able to get by without having to rely on my cards like I have lately. In closing: A) Did the original denial of loan effect my score? B) Will it effect my score if I apply again and are denied? C) If I need a cosigner, do banks generally require that the cosigner also belong to the same bank? 4) How trustworthy are online loan companies? I haven't done much research yet, but I wanted to throw out some of these questions to you Tilted Finance folks __________________ Absence is to love what wind is to fire. It extinguishes the small, it enkindles the great.