Title: "Simple 4 Step Personal Loan Hustle! NFCU Pledge Loan Internal Score Builder! - YouTube"

Transcript: 
"[Music] what's up youtube welcome back to the wallet monkey channel where we give you all the credit intel you need to grow your wallet today what i wanted to share with you is a really simple four-step personal loan hustle or tactic that you can use right and i recently did this i think it's really simple and a lot of fun to do but also too will impact your score and set you up for your next round of apps free or game day strategy whatever you want to call it okay so this is a very simple straightforward process let's dive into it now if you like this uh as we're going through it just show us some support flick a like tell us a comment below if you got something to add or you got a similar strategy i'd love to hear from you maybe we can do a stream together you know feature you in a video whatever you want to do let us know in the comments though all right let's get started okay step one number one is get a personal loan wide range we've got a article on the site that actually ranks personal loans marcus goldman is still one of my favorites it's because the apr is usually really good and it tends to stay the same based on you know credit scores if you're over 700 you're gonna get something good you're gonna get 11 12 but personal loans range i'd say let's say to be generous 10 up to uh you can get a 22 to 30 loan it just depends on what kind of loan it is because there are sub prime lenders for personal loans as well so personal loans understand that with fico 10 and 10t that are slowly starting to get rolled out is personal loans and how you treat those will matter more understand that anyone telling you that you can't get personal loans or shouldn't get personal loans anymore is wrong what you shouldn't do as 10 t and 10 continue to roll out is get a personal loan pay down your credit cards go max out your credit cards again that's what will get you negative you know demerits or negative mark on your credit from this new change in fico okay so we're gonna get that personal loan we're gonna secure it then what we're gonna do is we're gonna come over here and we are going to come to navy fed we get a pledge loan and we take the entire personal loan the entire amount and we put it over here to a pledge loan so you move it over into your savings account then you have to call them or go into a local branch and open up the pledge loan for the full amount of the personal loan good news is personal loans are usually pretty quick 24 to 48 hours it's in your account right i know that with marcus and with some if you dedicate the money right away for debt consolidation they'll give you one or two percent apr off so again you got to justify all this for yourself this is just a strategy i'm sharing with you if it works for you great if not ignore it move it to a pledge loan then we're gonna pay off like i don't know you can choose i would say anything above 85 pay it all off now pull the money back out because this whole process of like staking up the money so i'm staking up the money they're taking that to then open me up a pledge loan so i could then go and use all that money instead i'm going to pay off 90 of that pledge loan then get my cash back pull it out then go pay off all my credit cards and that is step number three uh pay off debt this is a fun little thing that i just did and so you know again i'm just sharing it with you so we pay this down 90 and we take that and we pay these guys down so now what's happened what's happened is we've opened ourselves up for new credit for an app spree okay so because hopefully this whole number is big enough for this to all work but if not you're going to be able to pay down quite a bit of your debt i hope then give that a month or two maybe a statement date or two for that to kick in and then what's going to happen and this is an old-school trick of just taking a personal loan and paying down your debt right we all know this but what's going to happen is your score's going to go up now at first because the personal loan your score might drop up to 40 points for the first month but doing this and this back to back you can definitely expect 20 to 40 point drop but what's gonna happen then is this is got time to work so it's like we open this and it affects some components with our fico score right average age of account depending on how some of this is counted where you got the loan from right and then we're going to pay down all of our debt our revolving credit hopefully gets paid down quite a bit so we're dropping of utilization so that's why you need like i would even say almost three months to let this thing kind of shake out because you're gonna get a point drop and then you're gonna get a point bump when the statements start reporting that now you've got super low utilization so this is a really great strategy to pay down your utilization which we're all used to that but we're sliding in this new piece this pledge loan piece why does this matter i don't know why people are still doubting this but there's still a ton of people out there that don't think or don't understand that the navy fed internal score is completely separate and disconnected from your fico score and from your credit score it is an internal piece the more products and the more business i do with navy fed the better score they give me like that should be obvious i don't know why that has to be explained but if i go out and i put money into high yield savings account and i put money into this and i put money into that i'm opening myself up to get more products higher limits and build my relationship with navy fed so this is a way to just build your relationship with navy fed at a much higher degree than you possibly could have but you're also getting the side benefit of paying down all your debt as well so now we can line ourselves up for an app spree now that let's cover the navy fed piece first and how i suggest you to do that and if i'm missing anything please let me know at this point your internal score is higher so we can go after your typical get credit limit increase first on our existing cards then open up that brand new card see where we're at right we could make this a little bit better before we even start to do this entire thing we could bump ourselves up to the flagship checking account which is more money i think they charge you like a monthly to leave it open right because you're positioning yourself for the flagship the monster the 5k minimum up to 80 000 maximum credit card with them the mac daddy right and do that first then go through this process so now our internal score is pumped up from multiple metrics right let that sit and resonate you know until your score you see that score start to bump up so let's say two three months then what we can do is we can go after line of credit product we can go after personal loan we can get on top of our credit card so credit limit increase new credit card personal line of credit or personal loan then we could even go after car loan you know he lacks a locks things like that right so this is setting you up massively to uh build and grow yourself within the navy fed ecosystem but also too you're knocking out all the rest of it so it's just like this is just icing on the cake and this is just an additional simple step you could do because now the big thing here is that now you're in position to do an app spree because your score's been bumped up and hopefully you know a lot of other stuff has fallen off of your account at this point so you're in good shape to you know go out and get some fresh new credit so anyways very simple four-step personal loan hustle i guess we'll call this for now um but i'd love to hear different iterations you've done with this i'm sure you've done similar or maybe you've got an idea of something that you would want to do similar share it in the comments below let's talk about let's have a conversation and of course join our free discord we've got 2 300 people in there now absolutely incredible we are building a grassroots community the whole intention here is to share not come in and take but to share to contribute to participate in this community so you can get what you want while also too we're raising the level of education so that we can go out and again help with that effect of rising all ships you know rising tide helps rise all ships right so the more education we all get the more we all share together we get smarter we can go out help more people after we help ourselves so it's like just like they say with the life mask on the airplane you got to put it on yourself first before you put it on to somebody else you know save yourself essentially before trying to save somebody else it's the same thing here we gotta make sure that everyone gets handled at a one to one level and then they can go out and help other people so that's what we're doing here love for you to join us it's completely free discord link is in the 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