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What are my chances of gettin a personal loan?

Bobby asked:

I am looking to get a personal loan to do some remodeling around the house. I am looking for $3500. I have a FICO of 715. I have 4 credit cards with perfect payment history with about 25% of the credit limit used. I have had 3 car loans with no missed payments as well as my student loans with no missed payments. Should I be worried I would be denied?
Asked on: 2012-12-24 07:08:25


  1. M W says:

    Personal, or unsecured loans, are a thing of the past. Perhaps you can use a car title for collateral.

  2. Merry says:

    You’re more likely to get good rates (and good chances of getting one) through a credit union that you’re already doing business with. Some credit unions are better about this than others. So, if you’re not already a member, I’d keep this in mind when looking for one.

    Some banks might be good. It’s always worth asking your bank what sort of options they have. I would bet that you can get a loan. Don’t expect the payback terms to be long – though one time my credit union ran a special of something like $3,000 for 30 months.

    Good luck!!

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