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Hello my name is David Malan i need quick cash car title loan can anyone please suggest me the lender name and number so can i get the loan.
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.
I know it's been discussed many times about how to optimize scores and I recognize this is Karma and therefore useless but I really just chuckle every time I look at this graphic representation of how scoring models consider carrying NO debt a bad thing.
"Dear consumer, please run up your credit cards and we'll give you a better grade"
As an aside: thanks to all that contribute to the Fico science threads, looking forward to seeing Fico 9 variances added to the mix.
I'm a newbie but I did a little cleanup of my credit 2 years ago using the online disputes, now forward 2 years at the end of last month saw a house that I loved so decided to try to buy it, checked my credit score on my equifax online account and it's at 604 so I'm afraid I might not qualify for a conventional loan, one of the big problems is that I had a high credit card debt ratio with my 5 credit cards (also some settlements and a short sale), about 95% utilization, so immediately called my credit card companies and found out what day they report my new balance to the credit bureaus, so paid off as much as I could and for 2 of my credit cards I was able to increase my credit limit so I lowered my credit utilization to around 20%. now according to a person from Capital One once they report to the credit bureaus it takes them 3-5 business days to update their information, so for example Capital One reported yesterday, so at the earliest I plan on having my mortgage broker pull my credit 12/18 (5 days after), seems to good to be true that when they pull my report it will show my new lower balance, is this possible? or am I delusional and it takes much longer (1-2 months to see results)? I also got desperate and contacted Lexington Law and they're supposed to send some dispute letters.