👉📲1 on 1 Consultation - calendly.com/justmoneyish 👉💵💰FREE $50 to bank with Langley federal credit union - bit.ly/4gFv1F6 👉💵💰SoFi Checking & Savings Account (Get up to $325) bit.ly/Ismaelshaunsandiford 👉📲💰Invest With Robinhood: join.robinhood.com/ismaels27 👉Use my link to get a Free Stock worth up to $200!
O k easiest way to explain this and this is from experience. I put a $501 pledge loan. They then put the five hundred and one dollars into my checking account the very next day, now with that same money, I then paid 460 dollars, which is 92% And in 2 days I got my $460 back into my savings account And now I have one payment of $41 due on February of 2025. Now, for those that are curious, you don't have to put it on auto pay so that they take out increments of four dollars a month to show positive payments, It will do that automatically because you paid a large sum of the money back already. So every month it will report as a positive payment, And that was coming from a Navy Federal representative because I thought it was silly to do $4 payments a month LO. L 😂 ❤
I just did a $500 pledge loan. For 12 months/42$a month payments. My credit score is 720. If I leave it alone on autopay without paying back the 80-90%,.I’m assuming the same outcome? I guess the hack method is beneficial because the utilization will be low,affecting the credit score in an excellent way
I did a 10K for 60mo. a few hours ago. The whole process took about 1.5hrs. They deposited it instantly after I signed the docs. Fyi I transferred the money in from my Money Market Account about a half hr prior.
I DID 100k THE NEXT DAY PAID THE REGULAR PAYMENT & THE DAY AFTER THAT I PAID 90% OFF IT REPORTED TO MY CREDIT & IT LITERALLY JUMPED 36 POINTS 🔥🔥😭 I SCREAMED FR MAN 🙌🏾😂
@@TK2TV You don't get the power in what he did. Because it was 100k and he paid back 90%, his personal credit doesn't take a huge hit after adding 100k to his overall debt. If he didn't do that when it reports to his credit his credit score will drop about 50 points or more. What's great about what he did is that only 10k was added to his debt to income ratio . When it reports he will be able stretch the1remaining 10k payments 0K over 24-48 months or longer if he wants to. The biggest advantage is when his loan is paid off he can then go to NF and ask for a 100k personal loan they will give it to him because he paid off the first one. He can now go to any bank and get 75-100K easy because that tradeline is positive on his credit report.
i’m 18 with 3 credit cards(5k in total) and a 730 score. Just opened a pledge loan 2 weeks ago for 1k. You think i should pay the 90% now or let all of it report to my credit?
I have a few question. I did a $250 paid the 95% back a few days later and now have a $20 balance left and don’t have to pay it till August (months from now). When do I pay it off between now and then? And when should I take out another pledge loan? And should I do bigger amount this time?!?!?
I just did a 10.5k for 61 months about a week ago when I did it the next day I left a $35 balance and it just reported to my fico and it jumped 30 points🎉!!!! Crazy
@@carlosc.2304 Hello, Thanks for this feedback. My banking experience with Navy Fed and PenFed is the exact opposite. I have been with NavyFed for 18+ years and only a few months with PenFed. I agree Navy Fed is a gem!
Hello there :) From Experience get both.. Dividend Rate on the Easy Start for 12months is 5.16% right now and you can reinvest the earn dividends on the 12 months. Experiment with the Save first for 3 months and also reinvest the dividends... do it with 100 dollars it really doesnt matter the amount cuz you can always transfer more whenever you want into it.. its just good for your relationship with Navy
I received a $250 pledge lian past week. Today I paid off 50% Next payment not due until 11/2024. When should I make another payment to bring it to atleast 80-90 percent?
I seen another video of yours about an auto loan with NF, you said they will deny you if you haven’t been with your current job for more than 2 years. How do they check that? I started a new job with a new company a few months ago, prior to that I worked as an independent contractor, I have good credit, I make plenty of money, I haven’t missed a payment on anything. My whole reason for building a relationship w navy federal was for auto loans, but if I have to work for 2 years with the same job I would just secure financing somewhere else, I work in the auto industry I have tier 1 credit, I know I can get the best rate that dealers have to offer, I’m just wanting to start building a relationship with NF and part of that is an auto loan.
@@JustMoneyish I have a few question. I did a $250 paid the 95% back a few days later and now have a $20 balance left and don’t have to pay it till August (months from now). When do I pay it off between now and then? And when should I take out another pledge loan? And should I do bigger amount this time?!?!?
@@JustMoneyishalso my secure card is coming up on the 90 days since I got it and I’ve been using it a lot but keeping it at under 50% debt. I’m trying to do the most I can with the secure loans to help navy see I’m worth my card graduating and maybe some more perks! Or does it not work like that?
I got a pledge loan for 1,500 3 months ago, i waited a month for it to report and paid it down to 125 and its shown on my cr but no increase in score. Idk what i did wrong. Also thinking about doing another one for 3k and a long term. Any advice?
Reminder if you do another pledge loan make sure you depot different funds into savings . You cannot use the last funds returned to your account from the first loan
Legit question and I’m sure you said this but I was kind of confused when you went back and spoke about the $10,000 loan OK so you apply for the pledge loan for $500 they take the money and put it back into your account now you can pay let’s just say 90% of that which is $450 when you pay that $450 does Navy Federal give you back that $450 in 3 to 5 business days? Or do they keep that?
Hi Ish, have a quick question the first payment towards my pledge loan i should wait for it to show on my credit history then make payment ? Bcoz i created pledge loan account and it shows a due date for payment already, however i don't see it on my credit history yet while due date is approaching !
Is every payment I make to Navy Federal unfrozen immediately? My concern is that if I have a pledge loan of a couple thousand dollars, that I have to wait until I make my final payment in 2 years, to get my pledge fund back and I can't wait that long.
Each payment that you make on the pledge loan you get that back in a few days…so you don’t have to wait until your final payment to receive your money back…it’s not like a secured credit card
Yes, it will be a drop because the account is closed. It happened to me before. I think the best thing is to have another Pledge loan going before that one ends so the impact of the drop is not high. the drop is because credit mix makes up for 10% of your score. If you have mortgage or car loans or other installment loans it won't effect that much.
You're basically having multiple points of contact with navy fed before and during the pledge loan term before it closes to get a high credit limit on a credit card essentially.
So what if you put a 500$ pledge loan on auto and forget about it. Is it same outcome. Or people are looking for the quick credit boost? Can I get two pledge loans ?
Hi Justin money , I did a pledge loan for $1K . I just paid 90% right when it posted . My remaining balance is $100.06 and my next payment is 08/13/24 . When is the next time I should pay or how should I pay off the rest overtime .
Yes you can do it on a business and it is the same standard. I was at the bank and did the Pledge loan and wanted to find out if I could do it to help build business credit and it was a YES!!! About to do it. Best to you for the new year!!
Good day. Please let me know if you have a referral link to open an account in Navy Federal Credit Union, to open an account in this bank? I just don’t have any relatives from whom I could ask for a code to open an account in Navy Federal. I would pay you for the service. If you are interested, please write to me, thank you.
Any bank does this I got a 250,000 loan against my own money . I put that in another bank earning 5 % interest. So both savings are 5% I have the interest off of them to pay the loan . But I still make a profit. The loan interest is only 4% so I still make 1% back But still have more money to do whatever .
@@Cbreezy_Tvno just pay 90-95% and then after like a month or 2 I would do the auto loan also if you don’t Try and set up direct deposit with them even if it’s only $50 dollars going in
It my drop initially because of the inquiry however, once the bank begins reporting it will boost your score. Stay on task and you will WIN!! Have a great New Year!!
people need to stop doing HACKS for loans and other nonsense. SMH you can build you credit by having responsible spending habits and that is a lifestyle change .. no hacks will change your financial habits...
👉📲1 on 1 Consultation - calendly.com/justmoneyish
👉💵💰FREE $50 to bank with Langley federal credit union - bit.ly/4gFv1F6
👉💵💰SoFi Checking & Savings Account (Get up to $325) bit.ly/Ismaelshaunsandiford
👉📲💰Invest With Robinhood: join.robinhood.com/ismaels27
👉Use my link to get a Free Stock worth up to $200!
O k easiest way to explain this and this is from experience. I put a $501 pledge loan. They then put the five hundred and one dollars into my checking account the very next day, now with that same money, I then paid 460 dollars, which is 92% And in 2 days I got my $460 back into my savings account And now I have one payment of $41 due on February of 2025.
Now, for those that are curious, you don't have to put it on auto pay so that they take out increments of four dollars a month to show positive payments, It will do that automatically because you paid a large sum of the money back already. So every month it will report as a positive payment, And that was coming from a Navy Federal representative because I thought it was silly to do $4 payments a month LO. L 😂 ❤
I just did a $500 pledge loan. For 12 months/42$a month payments. My credit score is 720. If I leave it alone on autopay without paying back the 80-90%,.I’m assuming the same outcome?
I guess the hack method is beneficial because the utilization will be low,affecting the credit score in an excellent way
@@bionichustla100 yes.
@@indiotorez9395 update. My score went down 9 points when this was reported
But what balance would be reported, because I’m seeing on another video that if you pay 80-90% back the payments will report as zero
the first payment i have to wait loan to show on my credit profile first then make payment ?
Literally just did the loan, got approved and received the money back in my account in 10 minutes- LITERALLY THE ENTIRE PROCESS TOOK TEN MINUTES
Can I do the pledge Loan on the app
First Pledge Loan $500 with $50 and 5 months left score jumped 32points. Next going to do a $10k pledge loan.
i just did a 5k pledge loan, paid off 4800 of it and left a 200 dollar balance, loan is 60 months so Id be paying $3.33 per month until 2029
Wow great
How much did it boost your score
Smart idea I will do the same
I did a 10K for 60mo. a few hours ago. The whole process took about 1.5hrs. They deposited it instantly after I signed the docs. Fyi I transferred the money in from my Money Market Account about a half hr prior.
I DID 100k THE NEXT DAY PAID THE REGULAR PAYMENT & THE DAY AFTER THAT I PAID 90% OFF IT REPORTED TO MY CREDIT & IT LITERALLY JUMPED 36 POINTS 🔥🔥😭 I SCREAMED FR MAN 🙌🏾😂
U paid back 90% of 100k and only jumped 36 points don’t sound like an even exchange
Why its his money
@@qturner27 yea you right
@@TK2TV36 points in 1 day sounds pretty good to me
@@TK2TV You don't get the power in what he did. Because it was 100k and he paid back 90%, his personal credit doesn't take a huge hit after adding 100k to his overall debt. If he didn't do that when it reports to his credit his credit score will drop about 50 points or more. What's great about what he did is that only 10k was added to his debt to income ratio . When it reports he will be able stretch the1remaining 10k payments 0K over 24-48 months or longer if he wants to. The biggest advantage is when his loan is paid off he can then go to NF and ask for a 100k personal loan they will give it to him because he paid off the first one. He can now go to any bank and get 75-100K easy because that tradeline is positive on his credit report.
Just want to say thank u for this I got approved for cash rewards card 24,9000
Nice! Good work!
i’m 18 with 3 credit cards(5k in total) and a 730 score. Just opened a pledge loan 2 weeks ago for 1k. You think i should pay the 90% now or let all of it report to my credit?
Let it report then pay it
Soon as it pop up on your online account pay it off 90% leave something then pay the rest off .. that’s a relationship 😎
Love that you've added the one on ones!
I have a few question. I did a $250 paid the 95% back a few days later and now have a $20 balance left and don’t have to pay it till August (months from now).
When do I pay it off between now and then? And when should I take out another pledge loan? And should I do bigger amount this time?!?!?
Pay it off towards the end of the term. You can get multiple pledge loans. Yes, next pledge loan should be for a bigger amount. Thanks for watching.
@@JustMoneyish thank you Sir
If I start with a $250 pledge loan will it still help build my credit
I just did a 10.5k for 61 months about a week ago when I did it the next day I left a $35 balance and it just reported to my fico and it jumped 30 points🎉!!!! Crazy
how long does it take to report?
Got my first one this month. Will pay 80% off next month
Good stuff man thanks for this information 😊
I have navy fed!! I'm gonna do this and report back
Great video. I have one pledge loan. Prepping to do one through PenFed
Hello. I have been banking with Pen Fed for over 20 years. Only a few months with Navy Fed. And I say Navy Fed are Top.
@@carlosc.2304 Hello, Thanks for this feedback. My banking experience with Navy Fed and PenFed is the exact opposite. I have been with NavyFed for 18+ years and only a few months with PenFed. I agree Navy Fed is a gem!
Can you do a video on Easy Start Certificate VS SaveFirst? I can't decide which one to get.
Hello there :) From Experience get both.. Dividend Rate on the Easy Start for 12months is 5.16% right now and you can reinvest the earn dividends on the 12 months. Experiment with the Save first for 3 months and also reinvest the dividends... do it with 100 dollars it really doesnt matter the amount cuz you can always transfer more whenever you want into it.. its just good for your relationship with Navy
Do both
@DrNikki-lp8sy- Do both & they have a Special EasyStart as well the more the better🙏🏽💙🌹
How soon do you suggest we pay it? Within the same day funds are disbursed?
You can if you would like too, so that way a huge amount doesn’t get reported in the beginning
Will a $300 pledge loan help my 600 credit score
Yes. my credit score is above 750 now because I started small.
I received a $250 pledge lian past week. Today I paid off 50% Next payment not due until 11/2024. When should I make another payment to bring it to atleast 80-90 percent?
Asap I would’ve did that days after I opened my pledge loan
Should Ido this before applying for a car loan
I seen another video of yours about an auto loan with NF, you said they will deny you if you haven’t been with your current job for more than 2 years. How do they check that? I started a new job with a new company a few months ago, prior to that I worked as an independent contractor, I have good credit, I make plenty of money, I haven’t missed a payment on anything. My whole reason for building a relationship w navy federal was for auto loans, but if I have to work for 2 years with the same job I would just secure financing somewhere else, I work in the auto industry I have tier 1 credit, I know I can get the best rate that dealers have to offer, I’m just wanting to start building a relationship with NF and part of that is an auto loan.
looking to qualify for a home equity loan but i need to increase my score. hoping the hack will help
Me too
Did a pledge loan for 5K paid 95% and my Experian score only went up 12 points what did I do wrong? I’m at a 690 now
gotta let it age, just keep paying them low monthly payments theyll keep reporting
We need new information from Navy Federal. 98% of the consumers already have the Pledge Loan.
Great content. Does this work for PenFed?
PenFed does have a secured savings loan called a share loan which works in the same way
Absolutely..PEN FED reports report to 3 credit bureaus also
Great commentary from this young brother
@@JustMoneyish I have a few question. I did a $250 paid the 95% back a few days later and now have a $20 balance left and don’t have to pay it till August (months from now).
When do I pay it off between now and then? And when should I take out another pledge loan? And should I do bigger amount this time?!?!?
@@JustMoneyishalso my secure card is coming up on the 90 days since I got it and I’ve been using it a lot but keeping it at under 50% debt. I’m trying to do the most I can with the secure loans to help navy see I’m worth my card graduating and maybe some more perks! Or does it not work like that?
So ish, I'm new to NF and would like to take advantage of this hack. How long should i wait to pay off the majority of the loan? Please advise
I got a pledge loan for 1,500 3 months ago, i waited a month for it to report and paid it down to 125 and its shown on my cr but no increase in score. Idk what i did wrong. Also thinking about doing another one for 3k and a long term. Any advice?
Reminder if you do another pledge loan make sure you depot different funds into savings . You cannot use the last funds returned to your account from the first loan
Legit question and I’m sure you said this but I was kind of confused when you went back and spoke about the $10,000 loan OK so you apply for the pledge loan for $500 they take the money and put it back into your account now you can pay let’s just say 90% of that which is $450 when you pay that $450 does Navy Federal give you back that $450 in 3 to 5 business days? Or do they keep that?
Yea every payment you make to the pledge loan will be unfrozen and given back within 2-3 days
Yes I got it back today ty. This pledge loan is fool proof...I would recommend this for everyone. It took 2 days to get my $ thanks man.
@@indiotorez9395 and once you get the money back you can then open a new pledge loan
Hi Ish, have a quick question
the first payment towards my pledge loan i should wait for it to show on my credit history then make payment ?
Bcoz i created pledge loan account and it shows a due date for payment already, however i don't see it on my credit history yet while due date is approaching !
Is every payment I make to Navy Federal unfrozen immediately? My concern is that if I have a pledge loan of a couple thousand dollars, that I have to wait until I make my final payment in 2 years, to get my pledge fund back and I can't wait that long.
Each payment that you make on the pledge loan you get that back in a few days…so you don’t have to wait until your final payment to receive your money back…it’s not like a secured credit card
@@JustMoneyish Thank you
Will my score increase or how will the pledge loan help if you have inquiries and collections
When the loan ends, would there be a drop on my credit score ?
Yes, it will be a drop because the account is closed. It happened to me before. I think the best thing is to have another Pledge loan going before that one ends so the impact of the drop is not high. the drop is because credit mix makes up for 10% of your score. If you have mortgage or car loans or other installment loans it won't effect that much.
You're basically having multiple points of contact with navy fed before and during the pledge loan term before it closes to get a high credit limit on a credit card essentially.
So when I start a pledge loan let’s say for 1k I pay 90% so that 90% I will get back
How many times can I do this ? Can I do more than one at a time? Will it jump every time I do it?
You can do 4 in one savings account but you may not want to pay any off. This is why it's normal to only have 1
What are the approval requirements? I have 1 collection & 1card maxed out
You must bank with navy federal then put the loan amount in your savings then apply over the phone
You gotta reduce that balance fam. Pledge loan or not, that high credit utilization will still be ugly
Im confused. How can you not make on time payments if you're using the money in your savings account?
So what if you put a 500$ pledge loan on auto and forget about it. Is it same outcome. Or people are looking for the quick credit boost? Can I get two pledge loans ?
Yes
Hi Justin money , I did a pledge loan for $1K . I just paid 90% right when it posted . My remaining balance is $100.06 and my next payment is 08/13/24 . When is the next time I should pay or how should I pay off the rest overtime .
You won’t have any payments do for a while. Pay it off towards the end of your term. Thanks for watching.
Will the Pledge Loan still help if i have a car loan already? I do have a secured credit card with NavyFed.
Can you have a pledged loan and a secured card ?
Yes you can 💯
hello can you do a pledge loan on business savings
Yes you can do it on a business and it is the same standard. I was at the bank and did the Pledge loan and wanted to find out if I could do it to help build business credit and it was a YES!!! About to do it. Best to you for the new year!!
Can you get a pledge loan if you’re under contract to buy a house???
If your under contract you are usual advised not to create any new debt. Most wait until they close on their new home. Good Luck!
What are the interest rates on these pledge loans?
2%-3%
Are there other ways of you funding the Pledge Loan ? Say via Business or Personal CC
Thank you 🔥 🔥
I need to do this to rebuild my credit
💯💯
Is it better to do the 6 months or the 12 months? Someone please answer.
its better to do it as long as they offer which is the 60 month loan term.
I have done this t multiple credit union
So what happened
What’s the credit score? How many points it came up to?
Just got one today see how it works ! 600 for 12mo!
Very interesting 🧐
💪
What’s next after the pledge loan, do I just repeat
Good day. Please let me know if you have a referral link to open an account in Navy Federal Credit Union, to open an account in this bank? I just don’t have any relatives from whom I could ask for a code to open an account in Navy Federal. I would pay you for the service. If you are interested, please write to me, thank you.
Any bank does this
I got a 250,000 loan against my own money .
I put that in another bank earning 5 % interest.
So both savings are 5%
I have the interest off of them to pay the loan . But I still make a profit.
The loan interest is only 4% so I still make 1% back
But still have more money to do whatever .
Thanks for your info about the interest that is what I was curious about
That is awesome!! Great thinking. I am enjoying the pledge as well. Also you can do the same for your business accounts. Have a Great Year.
Yo just subbed to your page
Can I do the pledge loan on the app
No you have to call in
I jus opened a navy acc and want to get a auto loan should I get a pledge loan then in a couple months get an auto???
yes do the pledge loan first navy federal is big on building a good relationship
@@deeorcenteno4368 do I have to wait till I pay it off to get the auto loan ?
@@Cbreezy_Tvno just pay 90-95% and then after like a month or 2 I would do the auto loan also if you don’t Try and set up direct deposit with them even if it’s only $50 dollars going in
@@Cbreezy_Tv did you find that answer out?
@@rizeyt3223 yea it helps u build wit them
The pledge loan is a hard )pull think you said it’s not ( it is 😅
@@natural1love712 pledge loan is not a hard pull
Even if your aren’t making payments on it does it report that you are making them?
Yes it does
Just sub
Are you not aware of Navy Federals class action lawsuit?
This isn’t a scam tho
What are you referring to
@@bionichustla100 Navy Federal has a active class action lawsuit against them for racial discrimination
Did a pledge loan with them and my score dropped 2 points, from an inquiry
It my drop initially because of the inquiry however, once the bank begins reporting it will boost your score. Stay on task and you will WIN!! Have a great New Year!!
@@lotusriche4505Thanks
How many time can we do this
Couldn’t keep rapt attention even for 3 minutes.
4
people need to stop doing HACKS for loans and other nonsense. SMH you can build you credit by having responsible spending habits and that is a lifestyle change .. no hacks will change your financial habits...
Duh.. Its really a method, it's just called a hack for clicks. Smh.
You’re a hack sandy
I did it but not to fix my low 803 credit its to get a higher internal score with navy federal to get the lowest interest rate on car loans
So let’s say I get a $4,000 pledge loan. What’s the lengths I should get it for?
12months for 4k
the longer the better
2 years at minimum
You cute