Need Quick Auto Loan Advice

Anonymous · ‎03-31-2008

Hey guys, just wanted to know if this was a stable idea. I want to apply for a 12,000 auto loan. I'm not sure what my credit score is but I know my cards are on the edge of their limits. Is it a good idea to pay both cards off before applying for a loan?

MidnightVoice · ‎03-31-2008

Yes - high utilzation is a score killer. And they not only need to be paid off, but have reported to the CRAs as well

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

Anonymous · ‎03-31-2008

How can I report it to CRA?

Junejer · ‎03-31-2008

@Anonymous wrote:
How can I report it to CRA?

You don't report it to the CRA, the CCC does. You need to ensure that the paydown is reflected in the CRs in order to know that you got your point increase. You really ought to pull your reports to know what's out there and what your scores are.