No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
FICO 8 EQ: 685
FICO 8 TU: 681
FICO 8 EX: 667
Gross Monthly Income
$7300
Time of Current Employment
3 years
My wife and I are looking to purchase a new SUV in approximately 6 months. While we have had credit issues in the distant past (over 7 years ago), the only things currently lurking on my report are a handful of 30-60 day late payments on a car loan due to some unexpected medical costs with my children over the last couple of years. All of my payment history is current, but my credit utilization is high. By the end of six months, my credit utilization should be around 30%. Will these next six months help enough showing on time payments to obtain a decent interest rate? We are looking at financing around $50,000 after a $7500 down payment.
When was your last late payment?
about 6 months ago
Havig your last late payment a year behind you versus today (only 6 months ago) will improve your chances.
Dropping the utilization to below 30% should also provide a nice score boost.
Hopefully you will end up north of 720 score wise by then, increasing chances for favorable terms.
You may want to plug in your information to the CapitalOne Auto Navigator (make sure it is the one that only does a SP and not a HP).