Last week I called to check some info on my Household card. The rep talked me into talking to their auto refinance division. I figured what the heck. Turns out they offered me 2 1/2% less than I'm paying now. Sound good so I agreed. Then I start doing some research. I found a few bad things, mainly about how they post payments late and are unwilling to help if you get in a bind but I also read the same things about my current creditor..... One post I read said that after paying over 9000.00 in payments, they owe more on the loan then when it began. Supposedly of the 520.00 a month payments, only 10.00 a month was applied to the principal. http://www.planetfeedback.com/share...6926-44-0-0-20-0-fb_date-desc-93158-0,00.html This can't happen.....can it. You folks are the best resource I know for honest opinions about a company.
My car is financed through Household. While I don't particularly like my interest rate, it is what my credit allows me to get at this time. I've been a customer for exactly a year and have had no problems with them so far. I guess it's a matter of simply making the payment on time.
Get a credit union however possible. explore your options. I was looking at the rates. was like my credit union 600-660 - 8.25% APR REFI 661-699 - 7.50% APR REFI 700-730 - 6.25% APR REFI 731+ - 5.50% APR REFI 48 month terms. The nice lady showed me the sheet that read the beacon scores for their tiers. She said "hmm what are these disputes?" ** "i closed some of the accounts and some of the balances are wrong" "umm okay well your beacon score is great, you're approved. want that 6% $5000 overdraft too? And how about the no annual fee platinum card?" "uhh sure (Grinning)". ** Used the "SAM" dispute all derogs and dispute the main balance credit card trick.
Sam, Can you give some info on your Credit Union and what state it's in? Those are really good terms for a 600 Fico score, much better than the 15-21% that finance houses would probably charge. Thanks...
I also have an auto loan through household auto. The rate is about 16.95% and I've had it for 2 years. With the exception of 1 time I was late by about 5 days I never had a problem with them posting payments and such. The never reported the late so I am happy! They did however call the day after the payment was due and every day thereafter until I paid over the phone. They are hounding, persistant people!! I have found never to be late again with household. Tac
Started with 23000.@21% in 1998. Paid off last year with balance still owing of 17k. With my credit at the time, I was very happy to get a new car at any interest rate so I can't complain. Never late, so no problems. Good luck.
