Since June 2000, I've been trying to rebuild my credit after my ex ruined it. Today I managed to secure an auto loan through Fireside Thrift Co!!!!! I couldn't belive it. The Dealership (which is right down the street from Fireside) totally helped me out! I explained my credit situation and the asked me to (using a copy of my credit report that they provided me) number all the bad/incorrect stuff and give an explanation. Most of the stuff was paid, just not updated (I provided proof). The the salesman personally took my stuff to Fireside with my letter and talked to the branch manager. He explained my situation and that he had a very good feeling about me (it helped that I lived around the corner from them and all the good credit that I had was in excellent standing). The manager approved my loan (at a raping 19.81% but hey....it's a start!). I couldn't believe it! When I got the phone call at work, I fell down twice at my desk and cried! So, here's a summary of what I have going to build my credit back: * New auto loan * Citiban Classic Visa (since 92) * Gold Am/Ex (boyfriend added me on) * Secured Optima (but who cares....) * Providian Gold (since 6/00) * Capital One Secured (since 9/00) * Washington Mutual Secured (since 9/00) * Macy's (since 92) * Bloomingdale's (since 97) I feel that this is a good start in a positive direction to re-establish my credit. I am still not sure about the Washington Mutual card through the Associates of Delaware. Does anyone know about them as far as how they report, credit increases, turning to unsecured status, etc.??? I applied for that card on a whim with out investigating and I tried to cancel but it was too late, the card was in the mail. I've heard decent stuff about Capital One so I'll try them out. I've been utilizing my Providian card to the MAX and I still haven't seen an increase yet. Probably by the end of the year. All these account are in excellent standing. Well, I sure have learned my lesson and once I get back on track, I'm staying there. This whole having bad credit thing has really straightened me out completely! I don't pay ANYTHING late anymore......period! This message board has really helped me out a great deal!
RE: It's All Coming Back To Me MP$ I am SO PROUD OF YOU!!!! WE have pretty much the same companies, mine are less secured, but who cares. This proves credit can be rebuilt! 19.8% -You did the right thing to take it! Pay 12 months, refi to 10% - then your new car next at prime! APPLAUSE IN SAN FRANCISCO!!!! HEAR IT ? Dogman
RE: It's All Coming Back To Me Wow Dogman! Thank you so much! This really means a lot to me. I've been following your posts on several message boards and you are definately an inspiration! You just don't know how hard I have been working at cleaning all this credit mess up. You better believe I jumped on that car loan when they approved it (I'm still blown away!). I had the same thing as you in mind in regards to refinancing. I want to spend the next 12 months putting a solid (more like air tight!) history on my credit reports. Then I want to apply at my credit union to refinance at a lower APR. I'm sure once they see that Am/Ex on my report, they'll be all over me! ;-) I would like to work on getting my cards that are secured unsecured. I know this takes time and an excellent pay history of course. Any other tips? THANK YOU's FROM Santa Clara......hey...we're like 45 minute neighbors....wow!
RE: It's All Coming Back To Me need your help MP$$ I am posting a new message above' there's an internet plan I have in mind Dogman
RE: It's All Coming Back To Me Looks great! Your looking "STRONG"! Where did your credit go bad? You have had Citibank since 92, why would you need secured cards in 2000? chet
RE: It's All Coming Back To Me I'm not quite sure where it went bad. Most was due to them screwing up my student loans. Then there was some collection activity and 1 judgement that was added . I paid practically everything off but in the process I needed to put more 'good' lines of trade on my report. I was utilizing Citibank, Macy's, and Bloomingdales to their fullest (Macy's just recently...they closed my account but I got it back open) but I wasn't getting anywhere (i.e. better offers, better cards). Just to clarify...what I mean by 'utilizing them to their fullest' is charging at least half way to the limit and them paying off in like 1 or 2 payments. I try to do what I can but I'm not going to charge $250/mo at Bloomingdale's on 'stuff' just to build my credit (I was for a minute! :-D ). Same for all my other cards. But I try....I want to build up a solid pay history. I pay for just about everything I can think of by credit card. Even bills that accept it (i.e. cell phone, utilities, etc.). I figure that if I keep this up that after a year or so, I'll be sitting pretty. I can then ditch the sub prime cards and just stick with like 2 or 3 prime cards and a few dept. store cards (just to get the mailers and free coupons). I stay with Citibank because I've been with them from day 1. I wish I would of done better with my other credit. I had a $300 secured limit with Citibank for 30 months then it went to $800 unsecured in 6/95. Haven't seen an increase since (probably because my credit has been checkered)! I wonder what my status would be with Citibank if I had managed to keep the rest of my credit excellent? Humm.... I did noticed that they stopped issuing my card every year in June to every 3 years in June. They did that just this year. That must be a good sign.
RE: It's All Coming Back To Me MP, My car was repossessed in 05/99 due to very uncontrollable circumstances. After that I drove an old undependable car. In 06/00 I landed a new job which required travel. I needed a new car badly. I explained to the dealer my circumstances and he referred me to Wells Fargo. The Wells Fargo rep called me and interviewed me for 30 minutes! It was worth it. Wells Fargo approved with 18% interest. At that time I had very little positive information on my CR. Since then I have obtained Orchard, Direct Merchants (from a pre-approved offer), Chevron (credit builder), and Providian. Hopefully I can re-finance the car at a lower rate soon.
Providian Line Increase As I remember, my first line increase from Providian ($500>$700) took almost five months. You can worry if it hasn't come by November.
