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travlincub321
Posts: 3
Registered: ‎06-06-2013

So Confused...Cards for emergancy

Ok.. I put a post in the auto loan forum too, whcih I will paste below... I want to build my TU up and fix EX... EQ can go to Hell... Its frozen and if the Bank needs to pull it, I don't need em.. EX will be easish to fix... MY TU I need to build.. It has $65 in bad things an thats it.. Never mind I have 6 good auto loans showing on EX or 6 good (but closed) CC's on EX....  What CC companies will look at the good over the bad when doing a RECON and which companies tend to like TU?? Is there a CU i can go to??? I don;t want 600 CC"s.. Just a couple.. I was just added as an AU on moms 5/3 20K Master Card (with my social sec# and such) and dunno if it will show or not.. Also opened a 1K Secured Card with 5/3 and added as an AU on my grandmas BofA Amex with 35K (don't have a card for that one, but they wanted everthing under the sun).... THoughts?? First Premier has even shot me down..... I am 99% cash buyer and that serves me well..  Just need something decent thats just mine for emergancys

Below is my other post..Trying to build TU

Its a long story with my credit, but, I had a very abusive EX that wrecked my credit and I am now paying for it... EQ is the worst of the 3 and is unfrozen for 30 days.. Its score is roughly 525 and lots of bad stuff... EX is 595 and has far less garbage, but still has some ick.. All of my good credit is listed here and my B/K from 2005 has fallen off... I have 5 auto loans from 2007 and prior showing good... But, I have a loan from Sh*ty Financial/Santander showing as in collections and that truck was traded in and sold in 2008 (the dealership is long closed and I wonder if my trade was ever paid off)..This was cleared up, but when The Devil took over, they opened it back up and made a mess of it again.. It also is showing a Repo from 2009 for a car I never bought (I don't even know what kinda car it was).. That lender was in Nevada and is no longer in this world either, and we are working to dispute it...
Trans union is another ball of candle wax.... There are no baddies on there except 3 very tiny collection..Amounting too $165.. It shows I owe $1200 in bills and there in good standing.. But I have no score with them... None of my good credit show's either.. I am baffled...

Is there a CU or Bank I can go to and discuss getting a $7500 car loan and they would consider my prior good history with Carmax, Ford, Nissan, Toyota, AmeriCredit, Eloans (I had 6 car loans open in 2005-2008 (yes, I got 2 auto loans right out the door from my BK in 2005 with Carmax and Americredit.. Within 6 months I had the other 4), don't ask how I did it, but I did.. MY ex and I made 200K and well, life was ok)..I want them to at least report to TU, but i'd love for them to report and use EX and TU, and even more so, use TU and place me as a FIrst TImer... This loan is to rebuild my credit and start things over again... I already have a 2004 Mercedes E320 (paid 13K cash for it) and a 2002 Saturn VUE (cash), so it will be for a truck or a 3rd car... Im in no rush, but I'd like to have some form of loan to rebuild things

Valued Contributor
SnackTrader
Posts: 1,563
Registered: ‎09-15-2012

Re: So Confused...Cards for emergancy

Well, the good news is that the $1k secured card you got it all you will need to start rebuilding! So you're already where you need to be.

The bad news is that's likely all you will qualify for at this point. I think you will need a lot of patience as rebuilding credit is a long journey. The rebuilding section of the forums is actually the place you want to be seeking advice 99% of the time as they have tips for disputing baddies and such. All I can say is that an auto loan at reasonable rates will be difficult given the repo on your credit since auto lenders typically put more weight on past auto loan history. While you may have 6 good auto loans, you have one bad one and that's probably enough to put you in a MUCH higher risk bucket than the normal consumer. If you dispute that successfully (are there multiple car repos?) you would have a much better shot. You can also probably find a sub-prime auto lender that would give you a loan, but it might be at rates approaching usury (20% or so). It's your decision if you are that desperate or not.

To summarize: you've done great with the secured card. Hold off on other credit cards until you gain longer history with that. Post your questions on how to dispute in Rebuilding section after you read around a little. Hold off on auto loan until you learn the results of your disputes on the repo(s).

Best of luck to you!

In My Wallet: Amex BCP (12/12) $22.200, Chase CSP (4/14) $12,000, Barclaycard Arrival (5/13) $10,500, Citi Forward (12/12) $9,600, Cap1 Cash Rewards (6/12) $9,000, Chase Freedom (12/12) $5,000

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