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Contributor
cazz
Posts: 94
Registered: ‎05-18-2013
0

GOT AUTO LOAN APPROVAL, SCORE JUMP!! GW LETTER?

HEY!! I RECENTLY GOT AN AUTO LOAN APPROVAL WITH MY 606 FICO SCORE.. I WASN'T TOO SURPRISED BECAUSE I RECENTLY GOT ALL THE BADDIES OFF MY REPORT SO AT THIS POINT I WAS JUST BUILDING MY SCORE... ANYWAY I GOT APPROVED FOR MY SECOND AUTO LOAN.. I TRADED IN MY 2006 CHEVY IMPALA WHICH I STILL OWED 8500 ON AND GOT A 2013 CHEVY CRUZE AND THEY BOUGHT MY IMPALA FOR $7000 SO I ONLY HAD THE REMAINING $1500 ADDED TO MY LOAN SO MY PAYMENTS ARENT MUCH HIGHER THAN WHAT I WAS PREVIOUSLY PAYING!!! YAY ME!!! THEN A FEW DAYS LATER I SAW THAT MY FICO SCORE JUMPED 50 POINTS!! IM NOW AT 656.. JUST WONDERING NOW THAT MY CAR LOAN WITH CAPITAL ONE IS PAID OFF AND I HAVE A NEW LOAN WITH ANOTHER COMPANY SHOULD I SEND CAP 1 A GW LETTER TO GET RID OF THE 30 AND 60 DAY LATES. THE MOST RECENT 30 DAY LATE WAS IN JANUARY AND IVE BEEN CURRENT EVER SINCE. LIKE I SAID I HAVE NO MORE BADDIES AND I KEEP MY 2 CC AT 10% OR LESS UTILIZATION.. ANY INFO WOULD HELP ON THIS ONE GUYS!! THANKS :catvery-happy:

Moderator
pizzadude
Posts: 9,674
Registered: ‎01-28-2010
0

Re: GOT AUTO LOAN APPROVAL, SCORE JUMP!! GW LETTER?

Congrats on the score increase ! I would certainly recommend continuing to send GW requests to Cap1, to try and get the late payments removed. Since the lates are recent, their impact to your FICO score will be significant.
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Contributor
cazz
Posts: 94
Registered: ‎05-18-2013
0

Re: GOT AUTO LOAN APPROVAL, SCORE JUMP!! GW LETTER?

thank you so much. I didn't know if I should send anything yet being that my new car loan hasn't even reported yet and my cap 1 auto loan isnt listed as paid off yet... what do u recommend? should i wait a month everything report correctly first?

Moderator
pizzadude
Posts: 9,674
Registered: ‎01-28-2010
0

Re: GOT AUTO LOAN APPROVAL, SCORE JUMP!! GW LETTER?

I don't see any reason to wait ~ I'd go ahead and start with the GW letters now.
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Contributor
cazz
Posts: 94
Registered: ‎05-18-2013
0

Re: GOT AUTO LOAN APPROVAL, SCORE JUMP!! GW LETTER?

ok thanks for your help

Member
2013rebuilding
Posts: 9
Registered: ‎08-26-2013
0

Re: GOT AUTO LOAN APPROVAL, SCORE JUMP!! GW LETTER?

Cazz congrats on the score! I'm going to be GW  Cap 1 Auto as well. My loans are paid off but have some lates. Any luck with them? 

 

Thanks


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