As everyone in the CC section of the forum knows, I have been working extremely hard to get my credit to where it needs to be. I applied for some cards that I though would never get approved for (CSP, AMEX, BARCLAYS) and gotten instant CL. I noticed by me paying down all my other credit card debt the month prior, I would be saving myself $335 a month in minimum payments. That got me looking at what else I could save money on. I had bought my car in June 2013 at a rate of 11.49% which at the time, I thought was ok since my previous loan was at 21.5%. I was nervous to even consider a refinance on the car because of the LTV and the amount of inquiries. I put my foot down and decided to give it a try with Desert Schools federal credit union. They have always been competitve and are very well known in Phoenix.
After a few minutes of exchanging information with the rep, she told me she would call me back within the hour to determine if I was approved. 10 minutes later she called back saying my loan rate was now 3.89. This was going to save me $130 a month and over $3000 in interest against my previous loan holder. WOW!!! I am amazed at how being determined and paying my quick debts off has really had its benefits. Just thought I would share my experience.
