Help wanted

[Anonymous]

credit score 628 according to ck and cs recd denial letter from cap1 says 607... 

applied for refi with nfcu was instantly denied 

what other banks or credit unions might refi me 

current rate at 13%. not alot of credit history no lates I have secured loan 250 and secured credit card with nfc 500 6percent uti

[Dj4Money]

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@Anonymous wrote:

credit score 628 according to ck and cs recd denial letter from cap1 says 607... 

applied for refi with nfcu was instantly denied 

what other banks or credit unions might refi me 

current rate at 13%. not alot of credit history no lates I have secured loan 250 and secured credit card with nfc 500 6percent uti

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 How long have you been making payments?

 I was denied for a re-fi when I first bought my car in Jan.

 Seven month later I was able to re-fi with my other credit union without issue. 

 Take that six months (six payments) and build up some more tradelines. 

[Anonymous]

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@Dj4Money wrote:

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@Anonymous wrote:

credit score 628 according to ck and cs recd denial letter from cap1 says 607... 

applied for refi with nfcu was instantly denied 

what other banks or credit unions might refi me 

current rate at 13%. not alot of credit history no lates I have secured loan 250 and secured credit card with nfc 500 6percent uti

---

 How long have you been making payments?

 I was denied for a re-fi when I first bought my car in Jan.

 Seven month later I was able to re-fi with my other credit union without issue. 

 Take that six months (six payments) and build up some more tradelines. 

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I keep seeing people offering up credit unions... all the credit unions in my immediate area seem to have negative feedback when reading about them.  I've got 15 months of perfect history with my current car loan I'd love to refi.  Any other recommendations folks?  My credit score is up about 100 points since I took on this loan - which is currently sitting at 10.75% with Capital One.  Certainly hoping to knock it down.

[Anonymous]

Your scores make it difficult for anyone to give you a better rate right now.  I don't know your income, the vehicles LTV or your DTI ratio.  With a low score but great income and low DTI ratio etc you may be able to find something better but my suggestion is to work for a few more months, establish another credit card and then try when you have another 20-30 points which if you establish a positive trade line shouldnt be hard.  Then apply with NFCU and I am quite sure you will be approved if the LTV is appropriate for their requirements.  I had to live with a crappy loan for about 9 months but did what I am suggesting and cut my interest from 12.5% to 4.29% (72 months) with NFCU.  Be patient your scores are still subprime so your current interest rate isnt crazy, those 20-30 points will make a huge difference.  

Also, have you called them?  Might want to see if you can talk to a representative to see if they would reconsider.  Hang in there.

Best of luck