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Thebluenun2

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Applying for Personal loan question
I have credit scores of 702 and 706 and 0 debt on any credit cards and a short credit history. I need to apply for a $7,000 to a $10,000 Personal loan and want to know my chances of being approved without having to actually being hit with another hard inquiry to find out if I will be approved.

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Top Contributor
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Good Question

Sorry to say but NO  financial institute is going to loan you that amout of money without looking at your credit reports. I would check with a local credit union because many of them only pull from one bureau. You can ask them that question before you apply. Keep this in mind as well, your credit score isn't the only factor they consider. Your will also have to show you can afford this new debt. Thats your credit to debt ratio. Yes, a hard pull will lower your score but after several on time payments your score will eventually go back up! I hope this helps!

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