Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Report
Profile Image

Question By
kenaev

0 Contributions
0 People Helped
How to get a personal loan
My credit score currently is a 544 from a 591. I have mostly collections(13) on my credit along with 3 currently paid student loans so those are the only 3 things helping my score. Two of the collections will fall off by March 2017. The other collections are a mix of things that are 5 years old and 4 are less than 2 years old. Last month, I applied for a car loan and several credit cards so I could add more positive things to my credit profile. I was approved for 5 different credit cards. With a limit totaling $1400. Currently my credit card usage is 46%, which I plan on bringing down to around 20-25%. I need to apply for a personal loan for $5 or 10k, how should I go about doing this? How long should I wait to apply and at what credit score.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1884 Contributions
3671 People Helped

as a rule of thumb

if you have any collection on your report, Lenders generally will not make any loan. 

Get those off your report, and let the cards you recently opened do thier job and build some positive credit history. 

Don't apply for a personal loan until your score is 640 or above, 

Good luck 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.