Reply
Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
0

Re: Looking for a lower rate. Refinance or get another car?


masscredit wrote:
DCU, is that Digital Federal Credit Union? They are in my state. I tried my credit union last Summer but was denied. Don't know if I am blacklisted by them because they foreclosed on a $500k house in '09. Also tried another local credit union without success along with a bank through AAA that listed good rates. I rather refi then be able to bring the balance of just over $10k down a lot quicker. If I did get into another car, I'd be close to doubling the balance which I rather not do.

I had a BK in Feb of '10 and have 4-5 tax liens that aren't going anywhere. Besides that, 100% on time payments since the BK. Scores and current credit in my signature. If you have suggestions for other places that I show try, I'd appreciate them.

Yes, that is Digital Credit Union.  You may go by a branch with a copy of your report and talk to them to see what they say.  A lot of members have found success with them on new auto, auto refi, and credit card approvals with very competitve rates. 

I think its worth a shot, and if you're approved for membership, simply move everything over to them


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Established Contributor
masscredit
Posts: 721
Registered: ‎07-17-2012
0

Re: Looking for a lower rate. Refinance or get another car?


webhopper wrote:

masscredit wrote:
DCU, is that Digital Federal Credit Union? They are in my state. I tried my credit union last Summer but was denied. Don't know if I am blacklisted by them because they foreclosed on a $500k house in '09. Also tried another local credit union without success along with a bank through AAA that listed good rates. I rather refi then be able to bring the balance of just over $10k down a lot quicker. If I did get into another car, I'd be close to doubling the balance which I rather not do.

I had a BK in Feb of '10 and have 4-5 tax liens that aren't going anywhere. Besides that, 100% on time payments since the BK. Scores and current credit in my signature. If you have suggestions for other places that I show try, I'd appreciate them.

Yes, that is Digital Credit Union.  You may go by a branch with a copy of your report and talk to them to see what they say.  A lot of members have found success with them on new auto, auto refi, and credit card approvals with very competitve rates. 

I think its worth a shot, and if you're approved for membership, simply move everything over to them


 I'm looking at their site now. I don't know what they consider my credit (scores 660-685, BK and some tax liens), I'm guessing "below average".  If so, the rate that they show is 5.49% which is still MUCH better than what I have now. Good, excellent and superior credit shows a rate of 1.99%.  The closest branch is about an hour away. I don't mind taking the drive but might just call first to see what they say. 

 


|****$6000****|****$6000*****|****$4500*****|****$2500****|****$1600****|****$3000****|******$750******|*****$700*****|
EX - 651 (MyFico 06/05/14) TU - 662 (Barclay 08/05/14 ) EQ 04 - 699 (DCU -07/26/14) EQ 08 - 686 (MyFico -08/09/14)
Established Contributor
masscredit
Posts: 721
Registered: ‎07-17-2012
0

Re: Looking for a lower rate. Refinance or get another car?

YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

Again!!!! YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

Approved at DCU @ 2.49%!!!!!!!!!!

 

i love you guys!!!!  This just made my month!!!!!!!! :smileyhappy: :smileyhappy: :smileyhappy: :smileyhappy: 

 

Bye bye 17.1% rate at Cap 1!!!!!!! :smileyhappy: 


|****$6000****|****$6000*****|****$4500*****|****$2500****|****$1600****|****$3000****|******$750******|*****$700*****|
EX - 651 (MyFico 06/05/14) TU - 662 (Barclay 08/05/14 ) EQ 04 - 699 (DCU -07/26/14) EQ 08 - 686 (MyFico -08/09/14)
Frequent Contributor
blunderer
Posts: 368
Registered: ‎01-09-2013
0

Re: Looking for a lower rate. Refinance or get another car?

Congrats!!!!

That's awesome.  I'm glad it worked out for you. 

Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
0

Re: Looking for a lower rate. Refinance or get another car?


masscredit wrote:

YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

Again!!!! YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

Approved at DCU @ 2.49%!!!!!!!!!!

 

i love you guys!!!!  This just made my month!!!!!!!! :smileyhappy: :smileyhappy: :smileyhappy: :smileyhappy: 

 

Bye bye 17.1% rate at Cap 1!!!!!!! :smileyhappy: 


That is an amazing rate!!! 

 

Congrats on your refi!!!   It helps that they are local, so you may be able to do everything you need right there in the branch!


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Established Contributor
masscredit
Posts: 721
Registered: ‎07-17-2012
0

Re: Looking for a lower rate. Refinance or get another car?

Besides saving a ton of money, it also feels good to see progress with my credit being rebuilt. I had one last question for them and that is if I can pick my payment date. No problem doing that. So I guess the money that I would have used for the payment next week will go towards tires. Very glad that I called them today!

|****$6000****|****$6000*****|****$4500*****|****$2500****|****$1600****|****$3000****|******$750******|*****$700*****|
EX - 651 (MyFico 06/05/14) TU - 662 (Barclay 08/05/14 ) EQ 04 - 699 (DCU -07/26/14) EQ 08 - 686 (MyFico -08/09/14)
Established Contributor
masscredit
Posts: 721
Registered: ‎07-17-2012
0

Re: Looking for a lower rate. Refinance or get another car?

I did a little more research when I got home tonight.  It looks like I received their lowest rate.  It will actualy be 1.99% Surprised doesn't even discribe how I feel. Especially after being denied 3 times before. I'll get the 1.99% rate instead of 2.49% when I do two of the three -

 

* Qualifying services include:

  1. Direct deposit of your net pay, Social Security, or pension to your DCU checking account.
  2. Receive all your DCU monthly account and loan statements electronically.
  3. Have an active loan with DCU (e.g. Visa credit card, auto loan, mortgage, equity loan).

I got a payoff from Cap 1 today.  I'm currently paying $4.95 per day/$148.50 per month in interest. That will drop down to $.59 per day 17.70 per month. 

 

If anyone is thinking about refinancing, I suggest checking them out. I'll be heading to a branch to take care of everything tomorrow. 


|****$6000****|****$6000*****|****$4500*****|****$2500****|****$1600****|****$3000****|******$750******|*****$700*****|
EX - 651 (MyFico 06/05/14) TU - 662 (Barclay 08/05/14 ) EQ 04 - 699 (DCU -07/26/14) EQ 08 - 686 (MyFico -08/09/14)
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012
0

Re: Looking for a lower rate. Refinance or get another car?

Congrats! Another great DCU story :smileyhappy:

 

Seems like they are up there with NFCU.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Established Contributor
masscredit
Posts: 721
Registered: ‎07-17-2012
0

Re: Looking for a lower rate. Refinance or get another car?

Thanks!  I went to the bank and took care of everything today.  Membership, checking account, savings account, debit card, auto loan at 1.99% and was approved for a Visa card with a $1k limit.  They said I can receive that one when I show that my '11 tax lien is taken care of.  That's on the back burner for now. 

 

The bank was very good to work with. Nice people, great rates, what more can you ask for? :smileyhappy: 


|****$6000****|****$6000*****|****$4500*****|****$2500****|****$1600****|****$3000****|******$750******|*****$700*****|
EX - 651 (MyFico 06/05/14) TU - 662 (Barclay 08/05/14 ) EQ 04 - 699 (DCU -07/26/14) EQ 08 - 686 (MyFico -08/09/14)
New Contributor
annebythesea
Posts: 96
Registered: ‎04-01-2013
0

Re: Looking for a lower rate. Refinance or get another car?

That is such great news and such a awesome rate and LOOK AT ALL THE MONEY YOU ARE NOW SAVING! DCU totally helped you out!



Starting Score: MyFico EQ 694 (3/2013)
Current Score: MyFico EQ 707 (4/1/2013), EX 734 (4/12/2013 - AMEX pull)
Goal Score: 740+, gardening since: 5/17/13




myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+