Credit boost if I PIF auto loan??

[Snuffmanp101]

So I'm wondering because Im coming up on the two year mark if I can PIF the remaining balance and if this will give me a nice little boost in my credit?? Before I pick out a new SUV for me and the family during summer.

 

15,000 left on auto loan- 2 years perfect payments

1st premiere card $300CL- 2 years perfect payments

Credit One $500CL-5 months perfect payments

1% uti

TU 708 EX 675 EQ 650

 

Just want to get an idea of how much it's going to help, hope this enough info

Edited December 8, 2013 by Snuffmanp101

[MarvBear]

Nominal, if that.

[mariuszh]

Nominal, if that.

 

+1

 

I would look into acquiring better quality revolving accounts.

 

Do you have any derogatory items on your reports?

[JPerry115]

I think your choice of credit cards is holding you back!

[Snuffmanp101]

Nominal, if that.

 

Nominal, if that.

 

+1

 

I would look into acquiring better quality revolving accounts.

 

Do you have any derogatory items on your reports?

I think your choice of credit cards is holding you back!

I have 0 colections but a charge off on each account Im still trying to get deleted, doesnt fall off till 2017 which put me in the position to be able to get the cards I have, Im going on a mini spree at the end of the month after 3 inqs roll of my TU. If the loan being paid off doesnt help too much how many new cards do you recommend? For lets say we shoot high and go for 750 and above???

[MarvBear]

If you are looking for credit card advice, you will be better off in the main credit forum. This forum is dedicated to auto financing.

 

Would you like me to move your thread?

[Snuffmanp101]

If you are looking for credit card advice, you will be better off in the main credit forum. This forum is dedicated to auto financing.

 

Would you like me to move your thread?

No thats okay, Do want to ask you a question though marvBear, in order to get the absolute best rate possible, where would my score need to be at a minimum? Because during the summer Ill be getting a newer 2012 Jeep Compass 4x4 for lets say 18000 and with all taxes and tags and fun stuff 21000 out the door If Im willing to put down 7000 whats my chances of finding a good bank to get me down to a 1.9% financing, and if you know anyone as far as an online lender that would be able to get me there? Reason I ask is I had about 20 pulls on my reports last time as a first time buyer which screwed me and I want to set my self up for the best possible rate I can!

[mk_378]

It would also depend if you're going to trade or otherwise pay off your existing car. Usually you get a more prime approval if you're not going to carry two car loans.

 

I think you'd pretty readily get a manufacturer's promo rate now, but that means having to buy a new car instead of used and that may not be worth the extra cost.

Edited December 8, 2013 by mk_378

[MarvBear]

It's not always about a 3 digit score. But the BEST APR is 0%, meaning a new vehicle and foregoing any manufacturer to consumer cash. Only you can say how important that is to yourself.