I am suppose to have bad credit yet i was able to lease a 2002 s-10 crewcab a 25,000 vehicle without a down payment or security deposit.So why can't i get a decent credit card?All my cards are sub prime with rates of 19.9-29.9.By the way my last lease had 3 over 30 day late payments!Gmac said no problem when it came to re-leaseing?I also was able to refinance my home and cut my interest rate from 11% to 8.125% even though i had 2 over 30 day late payments.I filed bk in 1998.So what gives?Anyone here have any other credit stories to share?Also i have been on disability since 1997.Comments?
The answer I believe is that your vehicle and home are secured loans. If you default, they have collateral, whereas with cc's it is unsecured.
