topic Re: GOT AUTO LOAN APPROVAL, SCORE JUMP!! GW LETTER? in Auto Loans

GOT AUTO LOAN APPROVAL, SCORE JUMP!! GW LETTER?

cazz — Thu, 27 Jun 2013 14:55:59 GMT

HEY!! I RECENTLY GOT AN AUTO LOAN APPROVAL WITH MY 606 FICO SCORE.. I WASN'T TOO SURPRISED BECAUSE I RECENTLY GOT ALL THE BADDIES OFF MY REPORT SO AT THIS POINT I WAS JUST BUILDING MY SCORE... ANYWAY I GOT APPROVED FOR MY SECOND AUTO LOAN.. I TRADED IN MY 2006 CHEVY IMPALA WHICH I STILL OWED 8500 ON AND GOT A 2013 CHEVY CRUZE AND THEY BOUGHT MY IMPALA FOR $7000 SO I ONLY HAD THE REMAINING $1500 ADDED TO MY LOAN SO MY PAYMENTS ARENT MUCH HIGHER THAN WHAT I WAS PREVIOUSLY PAYING!!! YAY ME!!! THEN A FEW DAYS LATER I SAW THAT MY FICO SCORE JUMPED 50 POINTS!! IM NOW AT 656.. JUST WONDERING NOW THAT MY CAR LOAN WITH CAPITAL ONE IS PAID OFF AND I HAVE A NEW LOAN WITH ANOTHER COMPANY SHOULD I SEND CAP 1 A GW LETTER TO GET RID OF THE 30 AND 60 DAY LATES. THE MOST RECENT 30 DAY LATE WAS IN JANUARY AND IVE BEEN CURRENT EVER SINCE. LIKE I SAID I HAVE NO MORE BADDIES AND I KEEP MY 2 CC AT 10% OR LESS UTILIZATION.. ANY INFO WOULD HELP ON THIS ONE GUYS!! THANKS

Re: GOT AUTO LOAN APPROVAL, SCORE JUMP!! GW LETTER?

pizzadude — Thu, 27 Jun 2013 18:50:12 GMT

Congrats on the score increase ! I would certainly recommend continuing to send GW requests to Cap1, to try and get the late payments removed. Since the lates are recent, their impact to your FICO score will be significant.

Re: GOT AUTO LOAN APPROVAL, SCORE JUMP!! GW LETTER?

cazz — Thu, 27 Jun 2013 20:11:11 GMT

thank you so much. I didn't know if I should send anything yet being that my new car loan hasn't even reported yet and my cap 1 auto loan isnt listed as paid off yet... what do u recommend? should i wait a month everything report correctly first?

Re: GOT AUTO LOAN APPROVAL, SCORE JUMP!! GW LETTER?

pizzadude — Thu, 27 Jun 2013 20:17:27 GMT

I don't see any reason to wait ~ I'd go ahead and start with the GW letters now.

Re: GOT AUTO LOAN APPROVAL, SCORE JUMP!! GW LETTER?

cazz — Fri, 28 Jun 2013 13:30:52 GMT

ok thanks for your help

Re: GOT AUTO LOAN APPROVAL, SCORE JUMP!! GW LETTER?

Anonymous — Mon, 26 Aug 2013 19:14:36 GMT

Cazz congrats on the score! I'm going to be GW Cap 1 Auto as well. My loans are paid off but have some lates. Any luck with them?

Thanks