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  1. Hi all, I moved migrated to US in June 2014. Never lived/worked here before. I applied for secured credit cards with Capital one and Bank of America in July 2014. Both got rejected. They gave me reason round the lines of “profile or file does not exist” (Can’t remember the exact wordings though). Anyhow, I wanted to buy a car, so went into this dealer ship back in August 2014(they claim to be the largest in NYC). Told them I am looking to buy something round $20K in cash. They asked me if I was interested in financing the car. I told them that I don’t have any credit profile, for which they said they ll get the approval. This was my first experience to actually buy a car from dealer ship, and have never financed before. Without asking me they (the dealership) actually applied to all the finance companies they could find under the sun. Then came back with approval, which was $11500 down payment, round 15%Apr for 72 months. The car was (new kia sorento) round $30K+ some nyc tax 0.9% + services. Total was round $34K. The installment was 474$/month. For next month or so, I got bombarded with all those rejected credit applications. I think they sent my application to 14 companies in total. All had same reason i-e credit profile does not exists. With this background information, I got following questions Q1: Currently I owe round $21K. Now the question is, if I payoff half of debt, (round $10K), will that actually lower my payments to 474/2 = 237$ /month? I don’t want to pay off the entire loan as its being useful for my credit buildup (as I understand). I read somewhere on this forum that even if you pay off most of loan, it will go to interest rather than capital payment. If that is the case, I’d rather keep it as is than paying off in full or half. Q2: I was checking free credit reporting sites, and suddenly they have my profile with TransUnion score 655, and another site reporting 690(not sure which bureau they are reporting from). Can I go for refinancing based on this scoring, provided my profile is less than a year old, and already has 14 credit pulls? Any help will be appreciated. Thanks,Kj.

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