FAQ Category: Personal
What should I do if I’m not receiving the validation code during my application?
If you're having trouble receiving the validation code, it may be due to your device’s operating system. Ensure your phone or computer is running the latest version, as outdated systems can interfere with code delivery. If you’re still not receiving...
Continue ReadingWhat is the credit limit, and can it be increased?
Your initial credit limit will depend on your credit score, income, and other financial factors. After regular use and responsible payment behavior, many issuers offer credit limit increases over...
Continue ReadingCan I transfer balances from other credit cards?
Yes, you can! With People Driven Credit Union's Rewards Driven Credit Card, there are no balance transfer fees. You can reduce the interest you pay by transferring your high-interest credit card balances to a PDCU Rewards Driven Credit Card, all without...
Continue ReadingHow 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...
Continue ReadingWhat can I use a personal loan for?
Personal loans can be used for a variety of purposes, including: Debt consolidation Home improvements Medical expenses Major purchases (e.g., appliances, electronics) Special events (e.g., weddings, vacations) Emergency...
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...
Continue ReadingWhat is the difference between a secured and an unsecured personal loan?
Secured Personal Loan: Requires collateral (e.g., a car 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...
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...
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...
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...
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...
Continue ReadingIs the interest on a Home Renovation Loan tax-deductible?
Maximize your savings with potential tax deductions on the interest paid on your Home Renovation Loan. Consult with a tax advisor to explore the tax benefits available to...
Continue ReadingWhat documentation is required to apply for a Home Renovation Loan?
When applying for a Home Renovation Loan, prepare for your renovation journey by gathering proof of income, identification, and details about your planned renovation...
Continue ReadingCan I apply for a Home Renovation Loan online?
Yes, you can conveniently apply for a Home Renovation Loan online through our website or by visiting one of our...
Continue ReadingHow quickly can I get approved for a Home Renovation Loan?
With our streamlined application process, approval for your Home Renovation Loan is fast and efficient, so you can start your renovation project without...
Continue Reading
