Comments | ladycrim: Car update: denied.

ladycrim

Car update: denied.

Jul 09, 2007 10:04

The credit union denied my loan ( Read more... )

Comments 13

larryv July 9 2007, 17:14:30 UTC

1) Have you gotten any recent credit cards?

2) Have you checked your credit score lately. You should really be on top of it: http://www.myfico.com

ladycrim July 9 2007, 17:22:30 UTC

1) No, I try to avoid credit cards.

2) I checked it last week, when I thought I might have to get a new car. It's listed as 'Fair', but everything from the last two years is clean. And as I said, I have not had a single late payment with this credit union.

hazelstitch July 9 2007, 17:31:02 UTC

*hugs*

I hate money too

silentbob037 July 9 2007, 17:33:02 UTC

If it comes down to it, can't you use your credit card now to get the car back and then use the payment schedule that you would have used for the loan to pay off the balance?

ladycrim July 9 2007, 18:04:39 UTC

I don't have a credit card. I only have a debit card, which is attached to my checking account. I don't want to have a credit card because I know I'll just run up debt with it.

silentbob037 July 9 2007, 18:09:55 UTC

Ohhhh... I thought that you had a credit card.

hazelstitch July 9 2007, 18:47:55 UTC

That is a shame, as having a credit card and paying it off regularly/not missing payments is a good way to improve your credit rating

Thread 7

brian_dare July 9 2007, 18:48:37 UTC

OK, I don't know who you had your loan through previously, but you could try Citifinancial -

Citifinancial, Campbell, CA

I have had loans with them on and off over the years. While they're usually mad at me (I'm always late on my payment), they've also been really good to me.

The only thing to watch with them is that they often try to get you to refinance, which often helps you out, but also gets them more in new closing fees.

twilight1542 July 9 2007, 19:49:18 UTC

I'm sorry to hear that. But credit cards can actually do your credit rating more good than harm. There is nothing better for your credit rating than having a decent amount of available credit on your account. If you just treat the credit card like a debit card and not spend more than you can afford to pay (e.g. charge groceries and gas) that will really boost your credit score. Honestly, your lack of credit cards is probably what is keeping your credit score from being "good" instead of just "fair".