Reply
Established Contributor
Posts: 619
Registered: ‎09-26-2011
0

Review in process w/ NFCU for refi

I pulled the trigger today as my credit picture is not going to get much better anytime soon and I wanted to refi my car. I got the "range" of APRs they might offer, the lowest being 2.99, the highest being something I would never agree to (11% ish?)  I'm currently at 5.74%.  My current EQ score isn't so hot, 669, but like I said, it's pretty much all UT that isn't going anywhere soon as I'm taking advantage of 0% offers and the dust is settling post-home purchase.  Just hoping I didn't take a hard pull for nothing and get a crappy APR or, worse, declined. Smiley Sad

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Review in process w/ NFCU for refi

What I found to be successful was to indicate to the review committee what my acceptable range would be. I told them "I am currently paying x% with current lender. You guys gotta be better than y% to make this refinance worth it to me. I don't know if it helped but the rate they gave me was better than y%

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
Posts: 619
Registered: ‎09-26-2011
0

Re: Review in process w/ NFCU for refi

Turned out to be a HP for nothing after all. Smiley Sad  I was approved, but with a 7% interest rate which was higher than what I have now.  Then they kept trying to sell me on a NEW car, but I'm not interested, I just wanted to lower my payment/interest.  I declined the whole package, guess I'm stuck at 5.7% for another few years. 

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Highlighted
Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
0

Re: Review in process w/ NFCU for refi

5.7% isn't too bad. I'm sure in a year you will be able to get a better rate. Congrats on the home! You credit will skyrocket in a year because you have a mortgage.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.