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  1. I hope this gets answered @MarvBear. I commented on a post that @Theirmomma started as she just did this and should be able to answer accurately. Hopefully she responds.
  2. Congrats on all the great progress you're making @Theirmomma!!! Keep it up!!! I'm about to do the Share Secured loan with NFCU and also, want to hack it for the boost and installment TL! Now that you've had the loan for 2 months and since you paid it down to 9% where the payments are not due till 10/2020, can you PLEASE tell me how they are reporting the skipped payments?! Do you see "ND" (no data) for any months since you've had it now on your reports?
  3. @pacemaker67 This is ONE of the several reasons why I wanted the share secured loan because I heard it IS an excellent score booster and it completes my 5th tradeline! What I'm NOT clear on is if I pay it immediately is it going to report every month? Because I thought you WANT it to report every month so you can show perfect payment history. Are you saying even if you pay it immediately it will STILL report monthly with you having to make an actual payment? Have you done it?
  4. Ok. Since I needed clarification and wanted to be sure, I phoned my mortgage friend. I was wrong and misunderstood. SORRY Y'ALL! My mortgage friend told me that I do NOT need the installment loan. I showed her this thread and she said @hegemony was correct. Thanks @hegemony and everyone else who contributed. She told me just clean up the derogs AND it's best to have have 5 TL's. It doesn't matter if they are revolving or installment. She just wants to see 5 TL's. I am carving out a game plan for cleaning up my derogs. So that is in the works. My questions now is do I get a 5th TL as I have 4 now? If so, I presume getting a revolving CC is the way to go, right since you all are advising against the installment loan? I'm thinking the only reason to get the installment loan is for credit mix and it's hackable, right but please guys and gals, let me know.
  5. Yep. Thanks for sharing and I have taken that into account. They are close long term friends of mine and would be surprised if they tried ill advising me to make money but yes, I understand when money is involved all things are possible.
  6. I need to be clear for everyone who reads this thread because I realized I have an incomplete sentence on my post, according to 2 very seasoned mortgage bankers who are personal friends of mine, I NEED an installment loan AND one that is aged for 1 year. Being self employed this is what is required. This meets the CURRENT loan underwriting guidelines. Everything is subject to change and yes, they can do exceptions. I like preparing for the worst and hoping for the best though. Just a principal I now live by.
  7. You are correct but I don't know if you recall @shifter, I NEED an installment line of credit that is aged for 1 year so I can get a mortgage. Upon speaking to 2 very seasoned mortgage bankers who are personal friends of mine will surely do the loan for me. I am self employed and they both specialize in self employed products. I won't get pre approved/approved under the common W2 mortgage guidelines. I myself also did mortgage for 7 years so I'm aware of the differences between W2 vs self employed. I need this installment TL. @MarvBear I'm honored you replied on my post. Thank you so much for doing so and providing us a great platform for all things credit. I have referred about 47 people to CB already (not kidding). I'm a fan and thanks again for your input. It is noted and I'm paying heed to it.
  8. Thanks @hegemony! I read "Konrad's" post but I don't recall it addressing my particular question I posted here. I will read it again though to see.
  9. Excited to be able to get into NFCU today! Woohoo! Rebuilding my credit, so I'm interested in the Shares Secured Loan (their credit builder program) which I understand is hackable. The rep told me if I make a payment that leaves me with half the loan remaining or anything of the sort, it will skip months of payments which will then NOT report to the CRA's for that duration of time which defeats the purpose of getting the loan to begin with. Does anyone know if this is true? I'm asking because I don't want to tie up my money in the loan but need to keep it for a 2 year term and want to obtain the reporting to the CRA's.
  10. No problem shifter. A member here on CB told me you are one that knows your stuff some I'm paying heed to you. What exactly do I need me to post for you to give you a full scope of my credit profile?
  11. Thanks for your input. I'm new to all this and putting in many hours learning all that I can. You seen I have a Credit One Bank card which is not a quality one and yesterday I applied for both Disco and Cap 1 cards. I surely want to solidify my revolving credit profile. What cards would you advise me to go after at this point?
  12. I have derogs on 5 year old CC's. I'm repairing and rebuilding. I only have 2 revolving lines however, I don't know what you define as quality so please educate me @hegemony. I two revolving lines are: Credit One Bank - under 1k limit; over 2 years old; perfect payment history. Bank of America Heloc - about 13 years old; perfect payment history (I understand this is NOT a mortgage but a revolving line. I DO have 2 AU accounts that are several years old with perfect payment history and $0 balance. That's all I have. I'm learned about the 3-5+1 method as this is advantageous in building a strong/complete credit profile. So per your last post to me, I did as you instructed. I just obtained a secured Disco card. I also applied for a Capital 1 card but they needed to identify me so I had to upload the necessary docs and it's pending approval. The other main reason I need an installment loan is that I'm trying to obtain a mortgage this time next year. I spoke to my very good friend who does mortgages for 18 years. She told me, "Just make sure you have 5 lines of credit where 1 of the 5 is an installment loan and the others revolving lines of credit". Exactly what the 3-5+1 method is. I'm not so much interested in the loan hack as of yet but perhaps I should be? I need this installment loan to last past 1 year because I don't want it to be paid off prior to getting the mortgage I need. If I understand the loan hack correctly, I obtain the hackable loan, then pay it down to 85% percent or is it under 9% and ride it out for as long as I need it to. Am I understanding this to be correct?
  13. Thank you for input. I'm reading this more than once! Appreciate you @cv91915!!
  14. Hi y'all.... Rebuilding my credit and I need an installment as I don't have a mortgage, car notes, student loans, or any installment loans. I am eligible to get into NFCU and most likely will become a member. I will see what installment loans, if any, they provide. However, I came across Self.inc and they look really good but wanted to run it by CB members to see if anyone can give me feedback on them. The pros I discovered about the Self.inc loan is: I don't have to put up any money for the loan No hard pull. Only a soft pull Reports to all 3 CRA's I only pay about $80 in interest/fees throughout the life of the loan I get all the money back minus the $80 in interest/fees So do you think Self.inc would be a good candidate for me to get an installment loan on my credit profile or should is there a better option?
  15. LOL......No kidding. In a text book world, you are correct. I was in my teens/ early 20's and didn't know. What can I say? I guess you're perfect in every way. You must have records since birth. Kuddos to you @centex! You should tell God himself to move over because your more qualified.

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