03-15-2011 09:28 AM
I really need a new car. I've been going to school without taking school loans and have been working full time. . . everything was going good until my car failed smog, something that's over a 2k job to fix for the great state of ca.
I have 3 active credit cards with a 6yr history, last month I paid all of them to 50% availability but when I pulled my experian I had a 560 this month, showing that I had less than a 100 available on 2 of the 3. I used Quizel to retrieve that report.
I used to carry more credit cards but they are closed (5 of them) due to grantors request when i hit a patch in '09. None of them have balances and were paid off that year as well.
I used to have great credit before 09', a (740 trans-730 equifax) and I cosigned a car for someone. The person is unable to get the car refianced into their name, but has only been late 1 back in 07 on payments. For my knowledge now, that loan was ridiculous, but at least there's only a year left to pay it off.
Waiting isnt really an option because I need a car now, or I just dump more money into my current vechile for another 4 months (at best).
03-17-2011 11:43 AM
Capital One might finance you.
Otherwise you just have to hope your auto enhanced fico is higher since you have a good car loan for last 3 years and I would go Toyota or Nissan, they will dip down to 600 and Nissan still offers great rates that low.
03-25-2011 11:13 AM
If your negative items on your report are very few. Have a family member add you to her credit card account. A major credit card thats been open for a long time with no late payments and low balance. It should help out a lot.
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