FAQ Category: Personal
How does a personal loan affect my credit score?
A personal loan can impact your credit score in several ways: Positive Impact: Making on-time payments can improve your credit score. Negative Impact: Missing payments or defaulting on the loan can harm your credit score. Additionally, applying for a loan results in a hard inquiry, which may temporarily lower your score.
Continue ReadingWhat can I use a personal loan for?
Personal loans can be used for many expenses, including home updates, travel, weddings, major purchases, and other personal projects. Loan use must meet any applicable credit union requirements and approval conditions. Contact us if you would like to confirm whether your personal loan can be used for your specific expense.
Continue ReadingCan I get a personal loan with bad credit?
Yes, it is possible to get a personal loan with bad credit, but it may come with higher interest rates and stricter terms. Consider lenders who specialize in bad credit loans, or use a co-signer to improve your chances of approval and secure better rates.
Continue ReadingWhat is the difference between a secured and an unsecured personal loan?
Secured Personal Loan: Requires collateral (e.g., a Certificate of Deposit (CD) or savings account). Offers lower interest rates due to reduced risk for the lender. Unsecured Personal Loan: Does not require collateral. The interest rate is based on your creditworthiness and may be higher than secured loans.
Continue ReadingDo I have to be a PDCU member in order to get a PD Quick Cash loan?
Yes. PD Quick Cash loans are only available for People Driven Credit Union members. Specifically, one must be a member in good standing, with direct deposit set up for at least six months. Member will be defaulted to pay their monthly payments as auto-payments from their account.
Continue ReadingWhy is there a fee?
The origination fee for a PD Quick Cash loan is a one-time cost for convenience and speed. It allows you to secure funds instantly without a traditional credit check. This is particularly beneficial when you need urgent access to funds without the usual wait times or paperwork involved in standard loan processing. It’s designed to be a fast, straightforward solution ...
Continue ReadingWhy a 19.99% interest rate?
The interest rate reflects the unique features of the PD Quick Cash loan, such as no credit check and the ability to get funds immediately. It’s higher because it accommodates the increased risk associated with not performing a credit check. PD Quick Cash is ideal for situations where the convenience and speed of access to funds are priorities, and it’s ...
Continue ReadingWhy should I use PD Quick Cash for emergencies instead of my credit card?
Using your credit card is a common choice for emergencies. However, the PD Quick Cash offers a structured repayment plan that could potentially have lower interest costs compared to high credit card interest rates, especially if the balance isn’t paid off immediately. Additionally, this loan provides a quick, predictable, and fixed repayment plan that helps manage your budget without the ...
Continue ReadingWill applying for PD Quick Cash affect my credit score?
No. One of the benefits of PD Quick Cash is that it doesn’t involve a traditional credit check, which means it doesn’t directly impact your credit score. This can be a great option if you’re concerned about maintaining your current credit score while still needing access to emergency funds. Although we do not run credit checks for the PD Quick ...
Continue ReadingHow do I use a contactless card?
Using your People Driven Credit Union contactless debit card is quick, secure, and touch-free. Just look for the contactless symbol (it looks like a sideways Wi-Fi icon) at checkout. Then: Look for the contactless symbol (sideways Wi-Fi icon) at checkout. Then simply: Tap your card on the payment terminal where you see the symbol. Hold it for a second or ...
Continue ReadingDo PDCU Members Get Discounts on Dental Insurance?
United Concordia Dental is pleased to serve the dental insurance needs of People Driven Credit Union members and their families. Many members ask whether PDCU Members Get Discounts on dental insurance, as they want affordable coverage that supports a healthier smile and better overall health. Do PDCU Members Get Discounts on Dental Insurance? People Driven Credit Union and United Concordia Dental ...
Continue ReadingDoes People Driven offer any perks?
Yes. People Driven Credit Union members have access to discounts, rewards, and other member benefits. You can explore offers through Love My Credit Union Rewards and view additional services and benefits on our Member Services page. Where to find your perks Love My Credit Union Rewards gives credit union members access to savings on a variety of products and services. ...
Continue ReadingWhat is a Line of Credit?
A line of credit is a type of revolving loan that lets you borrow money up to an approved limit, repay what you use, and borrow again as long as the account remains open and in good standing. Unlike a traditional installment loan, you do not receive the full amount all at once. Instead, you use only what you need ...
Continue ReadingHow do I report a lost or stolen Visa credit card?
If your People Driven Credit Union Visa credit card is lost or stolen, report it right away so we can help protect your account and order a replacement card. What to do right away For 24/7 Visa Credit Card Assistance, call our dedicated Visa line at 800-299-9842. For Visa Disputes Call 800-600-5249 or to report your card lost/stolen call 800-325-3678. ...
Continue ReadingHow do I make a payment on my People Driven Visa credit card?
You can make a payment on your People Driven Visa credit card through online banking, the MyPDCU app, by phone, in person, or by mail. Payment options Make a payment in online banking or the MyPDCU app at my.peopledrivencu.org Set up recurring payments for your monthly due date Call 844-700-7328 for help during business hours Visit a People Driven Credit ...
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