need advice on applying for a personal loan

[lbowman920]

I have been trying to get a personal loan and can't seem to get approved anywhere. One place approved me but only for $800 if wasn't worth taking. I need to pay off my school tuition and stuff and needed a little more than 800. I am maried but have been applying by myself because I didn't want my husband's credit effected at all even though I always pay my payments and bills on time. He has agreed to apply joinly with me to help me out so would I have a better chance at getting approved if I applied joinly with my husband. PLease help asap need advice.

[pjwife27]

What are your scores and where have you been applying too?

I know Beneficial and American General are pretty good with approvals with lower scores.

[Ravenous Wolf]

Do you have "bad" credit or just "slow" credit (that is, like hardly much of any credit at all)???

And if you are just starting out or simply rebuilding your credit, $800 is actually pretty good.

Lots of people have gotten started with $200 or $300.

Back in my day, I would have been thrilled to get approved for $800.

And where are you applying for? Like a bank or credit union?

Sub prime places are actually negative but if nobody else will approve you, then you got to start somewhere...

[lbowman920]

I have some credit I have the utilities at our house in my name and a credit card that I have never had any late payments or anything my score is 657 which isn't that bad I'm guessing I would like to be between 680 and 700 but I am young so I have plenty of time to work on that I just need to try to get a loan to help finish paying my school tuition so that it doesn't go on my cr as upaid and cause a problem

[tadmartin223]

Well, telephone bills do not count as credit that will be displayed on your credit report. The credit card with no lates is bringing your credit score to that number. How long have you had the card?

If you can get a co-signer, you will probably get a better loan amount, but please do not make that co-signer regret letting you use his/her name. Try to stay on top of the payments. And, then, after that loan is paid up, if it's not enough, then apply for another one. The two loans, with no lates, should help you get a boost in score. But it will not be an overnight thing, unless you trip and fall into some money.

That's just some advice. Good luck.

[lbowman920]

Thanks I didn't think about getting two smaller loans I was just focused on one big enough to pay my tuition - and as far as if I need a co signer I have always paid all my bills on time and I try not to even think about paying one late because I want to one day have good enough credit to be where my parents are at they own 3 house and 4 apartment complexes so I wouldn't let them regret co signing for me - thanks again for the help I guess i could always borrow the money from my parents if It came down to it but I would rather try to be responsible and take care of my problems on my own first

[Ravenous Wolf]

How many credit unions are you a member of?

I am a member of six credit unions.

The reason I ask is that their requirements are not as strict as banks. Banks look for the "super" prime and prime customer. Your scores ought to do well but a FICO score is not everything, regardless of what other people say.

A creditor (not your FICO) looks at a lot of factors that the credit score doesn't consider. For instance, length of a job, how many years you have been at that industry, length of residence, etc. Those are big factors that a credit score doesn't take into account.