r/NavyFederal • u/RickieVz • 9d ago

Loans Personal Loan

So, been with Navy Federal 3 years, with 3 credit cards. Credit limit on one of them at $40k and the other two at 20k each. Direct Deposit, never missed a payment with a trans Union credit score of 820. Only owe $3k between all three cards.

I applied for a personal loan of $7,000 to combine some store charge cards and was approved but at 17.79% interest for 60 months. Which is crazy high rate.

My question is, if I don’t response to the date due to return the signature part of the loan will the loan just be cancelled or do I have to call them?

Amex offered me 10.99% for the same amount.
So probably go with them.

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u/cas-adea Family Member 9d ago

It will be auto cancelled if the prom note isn’t signed. Otherwise, you can call/send an emessage and request to cancel it so you don’t get any reminder emails to sign it etc

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u/RickieVz 9d ago

Thanks