Long story short, I masterfully rebuilt my credit and then CRASH. Unemployment + medical bills for my kid and I had to file BK in Feb 2019. Since then I have started to rebuild and have
1) Still have a crapton of student loans all current
2) Credit cards:
- Kohls $700
- Credit One $1,250
- Credit One $500 (should probably just close but, no fees)
- Cap One $800
- NFCU $25,000
3) I reaffirmed my VW lease at the time of Ch 7 and was able to extend the lease but it is due back this month and now, I need a car.
4) I (FOOLISHLY, I KNOW!!!!) co-signed a car for my 22 year old and it has since been repossessed (about $8k delinquency). I did not realize it wasn't reporting yet or I would have probably not extended my lease 6 months and would have app'd sooner!
At any rate, while NFCU happily gave me a huge credit limit, they denied me for auto financing. I ended up financing with Capital One. $22,000 at ~16.5% for 66 months (pmt $515). I paid off some cards but didn't time it right so my utilization was higher than I liked at the time I applied. I was at 32% util and am now at 9.5%
Credit Score: 609 EQ per Cap One pull
AAoA: 12 years
# of positive trade lines: 20
# of negative trade lines: 1
Income: $85k
Year of Car: 2015
Miles: 81,000
Purchase/Refinance: Refi
Requested loan term (XX Months): 48-54 months
If I wait until that utilization goes down, what are the chances of NFCU refinancing even though they denied the Financing app?
Capital One Savor: $8,000; Nordstrom Visa: $5,400; Mission Lane: $4,500; LOFT MC: $3,000; AAA Daily Advantage: $2,700; PenFed Power Cash Rewards: $2,000; Capital One: $550 (reallocated $2k to Savor)
Store/Other: Care Credit: $7,500; Amazon: $2.500; Kohls: $2,500; Home Depot: $1,500; Target: $1,100
