08-18-2007 09:23 PM
08-18-2007 09:48 PM
08-18-2007 10:00 PM
uptomyneck wrote:my credit now is the lowest it's ever been and going up. I get a credit card offer every week or so & an auto loan ad from a dealership about once a month. I don't know why but it seems like those with the credit score to rate secondary lendors are heavily marketed. And those are the ones who should be building credit, not trying to get more.Never heard of Blue Sky financial. I would hold off on buying a car until your credit is a little higher and you've finished the credit clean-up you're working on. And if you shop smart a new car is a good buy. You won't lose 5k right off the back unless you shop dumb.
08-19-2007 10:36 AM
I really enjoyed the last year when I did not get many credit offers in the mail.
Getting them daily now-
08-20-2007 02:27 AM
08-20-2007 04:37 AM
08-20-2007 08:30 AM
08-20-2007 08:48 AM
destinylove wrote:I have been receiving things from Orchard, First Premier even though i had an account with them before and Blue Sky and they are all a waste of time expecially the Blue Sky. You don't want to pay 27% APR on a vehicle just becuase they are sending you a chance to get a car. You might as well wait until you get your score up a bit and then think about a car or credit card, because they really aren't going to help you at this point.
08-20-2007 08:56 AM
George2037 wrote:When I was just starting to rebuild my credit I went to those "Your Job is your Credit" places. I went with absolutly no faith in buying a car. I had a score in the 450 range and was expecting an intrest rate in the mid 20's, but my truck needed $2k worth of work (I had the cash but had already dumped $1k into it). I walked out with a used Malibu at 16% with $1k down, a year later I refinanced through E-Loan at 9.9% and am sitting just on the edge of breaking even if or when I decide to trade in.True I could be throwing my payment in the bank vs making car payments, but the credit history of my car loan is worth 100x's that of the 16% im getting on investments. Next spring when I go to buy a house and my score is 50 points higher because of my car payment history that may be just enough to push me in the 720-750 range dropping my intrest rate almost 1.5 points saving me up to $300 a month.It's up to everyone to decide where to invest their money, but I invested in my credit history and it's paying off.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.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.
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.