Help with credit score - Question about my credit score and taking out a personal loan......?

Question about my credit score and taking out a personal loan......?

My credit score is 629. I would like to take out a personal loan for about 2-3,000 dollars. I was thinking about going through Citi financial. Would I have any problems getting a person loan for that amount? Any recommendations or suggestions? Thanks! Just to answer Rick B, I am a great saver and have lots of money in the bank. But i am getting married and could use a extra 2-3,000 that I would have time to save. I have never taken out a loan, because i do pay for everything in cash by saving, this is just an instance in my life were i need a little extra help! Thanks

Public Comments

Yes. My suggestion is to save up the money, not borrow it. That is a very small amount. Just save.
Yes you would have problems, that credit score is to low Most banks would like to see credit score for unsecured loans in the upper 600's, not the low 600's.
I am not sure about Citi Financial. But I do know is that each company has different requirements regarding credit score and loan amounts. The financial industry is in a "credit crunch" meaning they tighten up the requirements and most now have collateral requirements. Personal loans, much like the stated income mortgage, have gone to the wayside. See the website below that may help
I agree with everyone except Ms Theressa, it sounds like a scam. Note... most real business don't have yahoo email adresses for business use. I understand its your wedding, but look for areas you can cut back in. Or ask for monetary gifts. Good Luck, Congrats!
CitiFinacial does do subprime loans for those with low scores (it is probably the bulk of their business) Be prepared for high interest rates. If you "do" have a past and current credit history but it is limited, by using the cash only system, and if your past and current credit history is spotless (no negatives) you might check with your bank or credit union first to see what they require in their loan lending. You might take current copies of your credit reports with you - but - be sure and be specific that you request "no" credit pull from them until you actually decide to apply for credit with them. (get it in writing that they agree they will not pull until you actually fill out loan papers) If they do pull your credit before you apply, and you have it in writing that you did not authorize it, you would be able to dispute the inquiry and request it be removed for no permisible purpose. Congrat's on your upcoming wedding.
Your best bet is to go to the bank where you have the most history. You local bank will be able to look at more than just your credit score and if you have maintained a good checking account history with them that will help. Your employment history and current status is the larger unknown factor. If you have a job now and have had the same job for the past two years this loan will be no problem. Since you are getting married now is a great time to be proactive about building a good credit report. The website below has lots of free useful information to help you and your spouse enter the future on a solid financial footing.
People with poor credit feel that it is difficult to get personal loans. However, there are many financial companies and banks that provide loans to bad credit applicants. Bad credit personal loans are generally soughtThe interest rates on secured loans are lower than unsecured loans. However, there is always the risk of losing your house or property if the loan is not repaid.
you can't worry about your credit score for your personal loan..don't worry its better for you to try for an online loan.lot of banks in online lend loans even you have a poor credit.i think that the below website will help you to find right solution.