Hello, im 20 years old and new to the bike scene. I have read a lot of posts and decided that the best route to take in getting my first bike would be to get a loan. Now, I cant just get any loan because of my poor credit score, so thats when I thought of the student loan. I figured since im a full-time student it wouldnt be a problem. I applied for a $5000 student loan at loantolearn.com. I did some research on them first of course and they seemed pretty good. The APR is from 7% - 11% for the $5000 loan (I think its the lowest loan they offer) and it can be payed in 20 years. Also, as far as I know it could be used for just about anything "school related (computers, electronics, etc.)"... So anyways, I got approved for it and I just have to complete some additional application papers for it. What are youre opinions on this kind of loan? Anyone apply for one of these before? How does it work exactly? Will I receive a check or money transfer to my account? Will they monitor what I used the money for? I could pay it off sooner right? Thanks!

 

you say bad credit...if you don't mind...what is your score (beacon/fico/you know the number between 350-850 in case you weren't sure)

 

No clue... but im thinking of using freecreditreport.com. Should I try that? Thanks.

 

try www.annualcreditreport.com. you get to see your score from all 3 credit bureaus (transunion, experian, equifax).

 

Ok, thanks! I am doing it as we speak... hopefuly I get a quick response?

 

yeah.. you'll see your score right away!

 

Well, this cant be good... it doesnt seem to identify me. I was using AnnualCreditReport.com. No report came up, could it be that I just havent built up my credit yet? I have very little credit if any.

 

ok...Chris...no report came up or just no credit info associated with your Name/Address/Employment ?

 

Yes, unfortunantly it looks like its no credit info associated with my Name/Address/Employment. Suggestion?

 

go to whatever bank you use and they can run a credit report for you.