I need a computer

[Blue Eyes]

I am a college student and I'm trying to purchase a computer for school but I'm worried that I will be rejected. I am kind of new in building credit. I've only had a credit card for about 4 months and although I'm in good standing and have made all my payments on time, I am concerned that I will be rejected for a personal loan. I was interested in a $1500 loan. Is it to risky to apply for a loan or does anyone have any alternative suggestions?

[Jeremy]

My advice would be to go wherever you bank and apply for the loan. There's real very little harm in applying for a single loan even if rejected. It sounds like you stand a good chance of being approved and here's why:

1. You're bank wants to keep you as a customer. College time is when most people decide which bank they are going to use for the next several years or decades.

2. You already have a history with your bank and assuming you haven't overdrawn your account a lot they know you're dependable.

3. The loan is secured by the computer. If you don't pay they can repossess it and recover some of their costs.

You might also check if it would be possible to pay for the computer with a student loan. These loans are backed by the government and are very low risk to the bank which enables you to get a great rate and a high chance of approval. I'd definately apply in person, not online. You're loan officer can help you find alternatives and exceptions that the automatic approval process online may not give you.

[cybiao]

From your aticle, i am able to learn that the time of your credit is short. And you are afraid that they won't lend money to you.

[cybiao]

Jereny said a lot of advise for you. He describes very particularly. I learn a lot of knowledge!

[bccruzer]

All is very true. However, I would recommend, if you are trying to build credit to get multiple credit cards, and open a few bank accounts as well. You don't even have to make purchases on these new credit cards that you make, and you'll build credit.

[Gambler123]

The advice that was given took the words straight out of my mouth! I normally use bank accounts and save for a product. This is an easy way to get the money without getting in too much debt.

[Money]

I use too many checks, because i use my bank account too much, i have a checl card and a debi card lol

[entropic]

I'd say Jeremy is right on here. A bank loan might be the way to go and I think you probably have a pretty good chance of getting a loan.
Student loans are always an option as well. I paid for quite a few things with my students loans. Unfortunately, I'm still paying those off now.

[phoang85]

Quote:

Originally Posted by Jeremy

My advice would be to go wherever you bank and apply for the loan. There's real very little harm in applying for a single loan even if rejected. It sounds like you stand a good chance of being approved and here's why:

1. You're bank wants to keep you as a customer. College time is when most people decide which bank they are going to use for the next several years or decades.

2. You already have a history with your bank and assuming you haven't overdrawn your account a lot they know you're dependable.

3. The loan is secured by the computer. If you don't pay they can repossess it and recover some of their costs.

You might also check if it would be possible to pay for the computer with a student loan. These loans are backed by the government and are very low risk to the bank which enables you to get a great rate and a high chance of approval. I'd definately apply in person, not online. You're loan officer can help you find alternatives and exceptions that the automatic approval process online may not give you.

I agree with those points, if you try and ge a loan from your bank then the chances are higher that they will accept you because they want your business.

[fengwuhen]

hi Blue Eyes,i am also a college student ,i want to buy some dear things ,and afraid the same thing with you ,i agree what Jeremy said ,i will try to do .
what do you think about ,Blue Eyes?