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candiigraham
Posts: 9
Registered: ‎12-10-2013
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Refi or No Refi

I'm trying to accelerate payments on my cc's that total $2500.  I wanted to get them paid off in 6 months, but I think that if I refi my car loan I can get the CC's paid off in 3 months.  I'm trying to improve my UTI.  The car loan has a balance of 5,832 monthly payment $240 interest rate 11.99%. It's with Wells Fargo.  Wells Fargo also just gave me a LOC with Ashley Furniture a month ago.

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pizzadude
Posts: 9,674
Registered: ‎01-28-2010
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Re: Refi or No Refi


candiigraham wrote:

I'm trying to accelerate payments on my cc's that total $2500.  I wanted to get them paid off in 6 months, but I think that if I refi my car loan I can get the CC's paid off in 3 months.  I'm trying to improve my UTI.  The car loan has a balance of 5,832 monthly payment $240 interest rate 11.99%. It's with Wells Fargo.  Wells Fargo also just gave me a LOC with Ashley Furniture a month ago.


It will likely save you several hundred dollars in interest if you can refi out from that 12% interest rate ~ I'd go for it.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
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Creditaddict
Posts: 22,067
Registered: ‎10-23-2007
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Re: Refi or No Refi


candiigraham wrote:

I'm trying to accelerate payments on my cc's that total $2500.  I wanted to get them paid off in 6 months, but I think that if I refi my car loan I can get the CC's paid off in 3 months.  I'm trying to improve my UTI.  The car loan has a balance of 5,832 monthly payment $240 interest rate 11.99%. It's with Wells Fargo.  Wells Fargo also just gave me a LOC with Ashley Furniture a month ago.


Isn't Ashley Furnitures Credit with GE?

and with a 12% if you can refinance and not take the loan out longer I WOULD!

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
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elleng81
Posts: 100
Registered: ‎12-10-2012
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Re: Refi or No Refi

Ashley has both Wells Fargo and GE. Wells Fargo is the premier lender that they usually advertise the financing with (they have Wells Fargo kiosks to apply at in the store). If you are denied Wells they usually offer GE... at least at my local store.

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Creditaddict
Posts: 22,067
Registered: ‎10-23-2007
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Re: Refi or No Refi


elleng81 wrote:

Ashley has both Wells Fargo and GE. Wells Fargo is the premier lender that they usually advertise the financing with (they have Wells Fargo kiosks to apply at in the store). If you are denied Wells they usually offer GE... at least at my local store.


yeah that's weird, the store here I have been to has the kiosk for GE only... no mention of Wells Fargo.

I know with Tempur-Pedic that is Wells but they have a secondary from health something rather (at least in past) if denied wells.

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:

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