05-19-2010 03:34 PM
I am applying for a new car loan and also applied for a credit card with SDCU (San Diego CU). Found out they use EX for everything and my score was a 699, which is a little less than I was hoping but I assume I lost some points due to my recent card additions. The CSR didnt seem concerend though and said my income, DTI, and score all look good enough.
I did have to jump through a few hoops. Seems I was listed on Chex Systems for an account with Bof A that I closed but an item for 1.29 came through 48 hour after the closing date and they paid it, the account then incurred fees for almost a year. All overdraft fees, even though the account ahd been closed.
Spoke to the Recovery Dept and had an AWESOME CSR who waived everything, faxed me letters stating they messed up, closed it all out and even sent a request to Chex Systems for immediate removal. I know B of A usually sucks, but he really went above and beyond. I almost considered opening a new account with them just becuase this rep was so amazing.
Now, its just a waiting game to see if they approve me, and if so, what the rates are going to me.
Cross your fingers for me!
05-20-2010 11:41 AM
Got the phone call. Approved for both the car loan and the credit card.
Car loan is 4.99 fixed for 72 months and they will go 120% LTV - AMAZING!
Credit card was approved for $6000 initially, rate is 12.90 with 0% for the first year.
Meeting with them later this week to finalize everything
05-20-2010 11:42 AM
Here is a link to all their current rates.
05-20-2010 11:50 AM
Congrats! Its too bad I live in Orange County because that sounds like a great CU! What amount was your car loan if you don't mind me asking?
05-20-2010 11:57 AM
I am refinancing my 2009 Lexus IS350.Current pay off is 40120 and financed through Toyota (I HATE TOYOTA FINANCIAL!)
I was initially going to trade it in and purchase something new, but changed my mind as the rate and terms for refinancing were good enough to convince me to stick with the same car. I was nervous that since the vehicle blue book value is 36940 and my pay off is 40120 they would not approve the refinancing.
I offered to put cash down, but in the end they said my income and credit were strong enough to offer 120% LTV so I dont need to put anything down.
The change in interest rate and refinancing the residual for 72 months is going to drop my car payment almost a full 300 a month. NICE!