NFCU Auto Loan/Credit card

[mo15473]

Good Afternoon everyone,

I have a few questions. I am new to posting on forms but not new to FICO ,Ive been reading success stories for about a year as well as having an accont with FICO for a year as well. I would like to apply for a auto loan threw NFCU. I have been with them a little over a year. I also have two secured credit cards with them both have a $500 limits and have never been late on any of them. One has about 9 months of good reporting and the other is 8 months of good reporting. not including this month when my statement cuts on the 11th. My TU 629 and QU is 585. The simulater says it should go up even more since I am paying my blances down 2 zero and I have paid a lot of my accounts off as well. MY TU report has about 3 baddies on it and 7 on my EQ. Almost a year ago NFCU pulled my TU report for both my credit cards and membership. My question is do you think I would be able to get a 40-45k auto loan with them or should I apply for another credit card and wait a little longer or wait to apply for both when my score gets better ? I also have an account with USAA as well but its just insurence and savings.

I also have my direct deposit going into my checking account as well. Current salary is 101k a year. Any help is greatly appricated. Thanks.

[MadMoney]

What other credit and/or baddies do you have? e.g. house payment, bankruptcy etc. If you have an annual salary of $101K and only $1K in credit cards or debt, you should be able to get a car loan with no problem.  

[mo15473]

I have one credit Card from another credit union that was closed in 2009, It is currently paid off. also have a charged off account with them as well but it was settled for the full amount. As far as collections I have two bad ones but one is paid off and the other is in a dispute for a balance of 425. No bankruptcy, 1 car payment but that’s in my wife’s name not mine. As fare as living I am currently renting and paying $900 a month $400 between my wife and I splitting it. 

I am looking for the quickest way for my score to go up. That’s why I am thinking should I go for another credit card since NFCU allows you to have 3 with them or should I apply for the auto loan. Would really like a card with a nice limit on it. Funny thing is they have not review my account or giving me an increase since I have had my two nrewards card with them, and that’s me putting up $1000 of my own money up $500 per card. Didn’t bother applying for a unsecured card until my score was able to get a little higher.

So what do think? should I be good to go or should I wait, and if so which move should I make first, auto loan or credit card?  I appreciate the help.

[grassfeeder]

I would look at moving either one or both of those secured cards to unsecured.

Also, you may want to do a bit of housekeeping with your credit profle and see if you can take care of some of those bad accounts on there.  Even getting a couple removed could be the difference.

[mo15473]

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@grassfeeder wrote:

I would look at moving either one or both of those secured cards to unsecured.

Also, you may want to do a bit of housekeeping with your credit profle and see if you can take care of some of those bad accounts on there.  Even getting a couple removed could be the difference.

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Navy Fed will not unsecure the card until after a year. So that is def out of the question. As for my profile they are all paid and are old accounts back from 2010 -2011.  I have tried the GW as well as the dispute DV but nothing works. I always get a letter in the mail saying no we will not remove or the account is currently paid in full and will be updated on your credit report. So at this point in time, I have to just let them age. Although I thought about sending them countless GW but most I have tried 3 times and the response is always the same.