cancel
Showing results for 
Search instead for 
Did you mean: 

20.7% Capital One Auto Loan looking to refi with NFCU

tag
twilliam1313
New Contributor

20.7% Capital One Auto Loan looking to refi with NFCU

Hi,

 

Right now I currently have a 20.7% APR rate on a auto loan with Capital One.  I still owe $13k with the loan not upside down on it, car is worth around $25k.  Credit scores were all in the lower 500s when I got the loan in November of 2022.  Right now my fico8 scores are Experian: 660, Equifax: 624, TransUnion, 623.  I currently was just approved to join NFCU and will me moving my direct deposits from my job to that account.  Current month income after taxes is minimum $9k from my base salary but ususally closer to $15k with my commission.  Do you think I should wait a couple months of using NFCU before i apply for refi or do you think I would be approved if I went to apply for it right away.

Capital One Savor: $500 8/24
USAA Rate Advantage: $5000 8/24
NFCU Cash Rewards Plus: $10,400 8/24
AMEX Platinum 5/24
NFCU Cash Rewards Plus:$2000 4/24
Credit One Wander: $500 4/24
Capital One Quicksilver: $1000 1/24
First Premier: $1000 12/23
Tbom/Milestone: $700 4/23
Capital One Platinum: $500 3/23
Credit One Platinum: $550 1/23
Missionlane: $1100 9/22
USAA Platinum Rewards: $1800 11/12

AZEO- NFCU Cash Rewards Plus
Message 1 of 5
4 REPLIES 4
Horseshoez
Senior Contributor

Re: 20.7% Capital One Auto Loan looking to refi with NFCU


@twilliam1313 wrote:

Hi,

 

Right now I currently have a 20.7% APR rate on a auto loan with Capital One.  I still owe $13k with the loan not upside down on it, car is worth around $25k.  Credit scores were all in the lower 500s when I got the loan in November of 2022.  Right now my fico8 scores are Experian: 660, Equifax: 624, TransUnion, 623.  I currently was just approved to join NFCU and will me moving my direct deposits from my job to that account.  Current month income after taxes is minimum $9k from my base salary but ususally closer to $15k with my commission.  Do you think I should wait a couple months of using NFCU before i apply for refi or do you think I would be approved if I went to apply for it right away.


I think I saw in your other thread you have direct deposit set up to NFCU; I would wait until the first deposit hits and then apply.

Chapter 13:

  • Burned: AMEX, Chase, Citi, Wells Fargo, and South County Bank (now Bank of Southern California)
  • Filed: 26-Feb-2015
  • MoC: 01-Mar-2015
  • 1st Payment (posted): 23-Mar-2015
  • Last Payment (posted): 07-Feb-2020
  • Discharged: 04-Mar-2020
  • Closed: 23-Jun-2020

 

I categorically refuse to do AZEO!

In the proverbial sock drawer:
Message 2 of 5
twilliam1313
New Contributor

Re: 20.7% Capital One Auto Loan looking to refi with NFCU

Okay, yeah I just got approved for NFCU last friday so should get all my Checking and Savings and welcome packet stuff in the mail this week and will move my direct deposit over to them and should have that in time for my paycheck on 4/30 to get in that account.  So I will wait for that first before i do anything.  Thanks!

Capital One Savor: $500 8/24
USAA Rate Advantage: $5000 8/24
NFCU Cash Rewards Plus: $10,400 8/24
AMEX Platinum 5/24
NFCU Cash Rewards Plus:$2000 4/24
Credit One Wander: $500 4/24
Capital One Quicksilver: $1000 1/24
First Premier: $1000 12/23
Tbom/Milestone: $700 4/23
Capital One Platinum: $500 3/23
Credit One Platinum: $550 1/23
Missionlane: $1100 9/22
USAA Platinum Rewards: $1800 11/12

AZEO- NFCU Cash Rewards Plus
Message 3 of 5
GZG
Valued Contributor

Re: 20.7% Capital One Auto Loan looking to refi with NFCU


@twilliam1313 wrote:

Okay, yeah I just got approved for NFCU last friday so should get all my Checking and Savings and welcome packet stuff in the mail this week and will move my direct deposit over to them and should have that in time for my paycheck on 4/30 to get in that account.  So I will wait for that first before i do anything.  Thanks!


on desktop, you can click more details and scroll down, there's a direct deposit section where you can see if Navy has marked your account as having direct deposit or not, I might consider waiting until this trigger says 'enrolled' hopefully it's soon after your first DD

Starting FICO 8:
Current FICO 8:


0/6, 3/12, 10/24
Message 4 of 5
Horseshoez
Senior Contributor

Re: 20.7% Capital One Auto Loan looking to refi with NFCU


@GZG wrote:


on desktop, you can click more details and scroll down, there's a direct deposit section where you can see if Navy has marked your account as having direct deposit or not, I might consider waiting until this trigger says 'enrolled' hopefully it's soon after your first DD


Hmmm, I cannot see the "More Details" option, however, I do see a "More" dropdown which lists Security, Electronic Document Room, Disclosures, Current Rates & Terms, and HomeSquad Application.

Chapter 13:

  • Burned: AMEX, Chase, Citi, Wells Fargo, and South County Bank (now Bank of Southern California)
  • Filed: 26-Feb-2015
  • MoC: 01-Mar-2015
  • 1st Payment (posted): 23-Mar-2015
  • Last Payment (posted): 07-Feb-2020
  • Discharged: 04-Mar-2020
  • Closed: 23-Jun-2020

 

I categorically refuse to do AZEO!

In the proverbial sock drawer:
Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.