Valued Member
Posts: 46
Registered: ‎06-16-2009
Need auto loan.

I'm needing to trade in my car within 6 months. I went from no credit to a score of 633 with 4 months. I currently have a Dell account with $1200 limit, currently using 100%, but will be paid off before applying for the auto loan. Also, $500 capital one card. I've using the capital one card every month and paying off. Should I do anything else or just wait on time?


My local bank has a credit building loan. You can borrow $500-$1500, the funds go into a cd, then you make monthly loan payments for 12-36 months. I've thought about doing the $500 for 12 months, but wondered I have to wonder if it looks like I needed a loan for $500.


Any help is appreciated. I know this is the rebuilding thread, but i'm basically building. I'm 35 and never really needed credit until now. In the past, I was able to pay cash for my car. Thanks.

Starting Score:
myfico score watch 576 (6/4/14)