02-04-2013 08:37 PM
Well, I've been reading the form for a few months and have been trying to repair my credit for the past 3 months, I got it up from 560 to 610 across the board (610 on auto fico too)
I have applied every where for a 14 k loan... i dont get it...
I have 4k down
I make 1850 gross per month working security ive been on the job for 7 months, prior to this i have been using my post 9/11 gi bill to go to school (still am) i get about 1500 for 6 months out of the year while im in school, this income cant be used on my credit report, trust me i checked, i called 30 diffrent cu's and banks to check there underwritting policy.
heres my credit report
$1200 credit card collection from bof back in 2007 (I was stupid and 18)
600 collection from jcpenny in 2007
key jewelers card in good standing, $600 credit limit closed in 2008(i dont know why they closed it, i was never late on that one)
i went in the marines and paid Them all off around 2008
about 6 different medical billmy for collection in 2010
2012 I got a collection from progressive (I will fight it because they gave me no notice and I paid it right away after it showed up on my credit)
I paid all the medical collections about 3 months ago
i opened and cap1 secured card and only have 1 payment on my score in good standing
no other credit history
02-04-2013 08:58 PM
As a marine you should look into the credit unions for army personel...they will work with you more than a bank will.
02-04-2013 09:05 PM
If you were a Marine you may qualify for Navy Federal Credit Union. They are VERY generous with credit for folks with lower scores/credit issues.
02-04-2013 10:28 PM - edited 02-04-2013 10:29 PM
Tryed pacific marine and navy fed, but im thinking of re-apllying and asking for less, i already asked pmcu for $10,000 and they said no and ive been with them for 4 years......
**bleep**... I dont get it? What is hurting me so bad that i cant even get a 10k auto loan?
.... This erks me, ive been saving up 4 grand for awhile.
02-04-2013 11:50 PM - edited 02-05-2013 12:11 AM
Collections and lack of credit in good standings is my guess. Time on current job probably also but not as much. I've been told in my past experience they like to see atleast a year.
02-05-2013 02:44 AM
What reason did Navy Fed give for not approving the loan?
02-05-2013 07:54 PM - edited 02-05-2013 08:08 PM
I got approved for an 8k loan by common wealth cu over in san jose, ca
now, i dont understand what this means ?
Is security, the car im buying or the car i already have? My take on the explanation is that since they gave you a free and clear title, you can improve your loan chance if you put the vehicile you are buying as a security?
* Amount Requested:
Looking for a way to finance the new or used car of your dreams? How about the perfect truck or SUV for work and play? CommonWealth offers members competitive rates on no-cost loans, with no prepayment penalties. You get free and clear title, so you may even be able to use your vehicle as collateral to further improve your financial position.
As a CommonWealth member, you're also entitled to competitive insurance rates and responsive claims service. We have great tools to make your next auto buying experience easy and convenient. Click here to check out our auto buying assistance tools.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.