I feel it would be best to wait some more and let your scores rise some. The higher the scores. The lower the interest. Adding a 3rd card for the FICO rebuild bonus can help with that. Maybe try Disco prequal if they werent burned. You got toy limits for your CC's at the moment. Get a third card. And wait it out till a year out. Right now it may be unreachable to get that better APR and a new loan for now.
We just did this exact thing but at about 8 months.
Our capital one interest was 12.1%
We got approved for 72 month loans but didnt want to extend it out. And found the terms better anyway with a 60 month loan. Offered 6.29 percent for 72 months
Offered 4.99 from one CU for 60 months
And a second was 4.79 for 60 months.
We only applied two credit unions because we knew our chances in our situation were better that way
It's so hard to not ap at 6 months, but I do think those few extra payments helped. My focus were above 700 when we did, and hubbys were right below it.
Our capital one interest was 12.1%
We got approved for 72 month loans but didnt want to extend it out. And found the terms better anyway with a 60 month loan. Offered 6.29 percent for 72 months
Offered 4.99 from one CU for 60 months
And a second was 4.79 for 60 months.
We only applied two credit unions because we knew our chances in our situation were better that way
It's so hard to not ap at 6 months, but I do think those few extra payments helped. My focus were above 700 when we did, and hubbys were right below it.
@Anonymous wrote:
We just did this exact thing but at about 8 months.
Our capital one interest was 12.1%
We got approved for 72 month loans but didnt want to extend it out. And found the terms better anyway with a 60 month loan. Offered 6.29 percent for 72 months
Offered 4.99 from one CU for 60 months
And a second was 4.79 for 60 months.
We only applied two credit unions because we knew our chances in our situation were better that way
It's so hard to not ap at 6 months, but I do think those few extra payments helped. My focus were above 700 when we did, and hubbys were right below it.
Thanks for sharing your experience! I appreciate it.
I have decided to wait out for 10-12 months before trying to app for a refi. My payments are very low even with the high rates.
Yeah you can grab the Open Sky. Name on the card dont mean anything. Its the 3rd card that going the AZEO way that will help bump your scores. FICO likes less than 50% of cards reporting. With 2 cards, your on the border. 3 cards your at 33% and change. Then you can do the @Anonymous kinda way and then you'll have a better APR and lower payments in a year. Good Luck Dude/ette.
That's good I am a cheapskate and couldnt keep seeing more than half of my payment going to interest! That was what really made it hard when I reached 6 months. But so glad we waited. Even at 1%util I'm sure we wouldnt have gotten the rate we did at 6 months.
I am a cheapskate and couldnt keep seeing more than half of my payment going to interest! That was what really made it hard when I reached 6 months. But so glad we waited. Even at 1%util I'm sure we wouldnt have gotten the rate we did at 6 months.