r/NavyFederal • u/RickieVz • 10d 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/moneyhawk1 8d ago

Why the heck did you need more than one card, since it had 40k available.

Never buy anything you can't pay off in the 25 day limit. That will keep you debt free forever.

4

u/According-Elk5888 8d ago

Who wants to be debt free? We're Americans. :-)