WHY NOT?

Discussion in 'Credit Talk' started by YASIRYA, Jan 29, 2001.

  1. YASIRYA

    YASIRYA Guest

    I AM TRYING TO APPLY FOR A CREDIT CARD,BUT I AM NOT ABLE TO GET ONE BECAUSE I HAVE NO CREDIT. I NEED A CREDIT CARD TO GET A CAR LOAN.ANY SUGGESTIONS?
     
  2. sam

    sam Well-Known Member

    You don't need a credit card to get a car loan.

    It's called "FIRST TIME BUYERS PROGRAM".

    You will need about 10-15% down payment depending on the demand for the car (ie honda/VW car = 15% , mitsubish mirage=0%).

    They will check your residency (2 years in locale), Check your employment (1 year min at same job), Check your income (18% utilization ratio is common).

    Capitalone.com will give you a secured card for $99 if thats what your after. But quit applying for credit, without any credit. You are messing your chances to qualify for first time buyers. It is for those with perfectly flawless credit. Too many inquiries
    is not "flawless".
     
  3. lbrown59

    lbrown59 Well-Known Member

    these shouldn't be allowed on CR. REPTS.

    sam wrote:
    -------------------------------
    You don't need a credit card to get a car loan.

    It's called "FIRST TIME BUYERS PROGRAM".

    You will need about 10-15% down payment depending on the demand for the car (ie honda/VW car = 15% , mitsubish mirage=0%).

    They will check your residency (2 years in locale), Check your employment (1 year min at same job), Check your income (18% utilization ratio is common).

    Capitalone.com will give you a secured card for $99 if thats what your after. But quit applying for credit, without any credit. You are messing your chances to qualify for first time buyers. It is for those with perfectly flawless credit. Too many inquiries
    is not "flawless".
     

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