car loan was denied...WTF?
12-16-2009, 02:14 AM
#41
just got a cts-v on Sept. thru my CU...Ventura county credit union for 22k my credit is below 700 just a tad but my debt to income was real low that is what is hurting u bro....my rate is a lil high at 9% but was approved
12-16-2009, 12:12 PM
#42
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Navy Federal nearly doubled my credit card rate (to 13.9%)...in part supposedly due to my credit (720). The amusing thing is that they then nearly doubled my credit limit on that card the next week. Yeah...you don't qualify for the lower percentage rate, but your credit worthiness is such that we'll extend you more credit. lol.
12-16-2009, 12:52 PM
#43
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That's what the letter I received in the mail claimed. When I called and spoke with them, they said it was because of my credit. I've been banking with them for about 15 years and have never had an issue with them until now.
12-16-2009, 11:04 PM
#44
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Do you carry a balance? If you don't, doesn't matter.
I just bought a 26k car 5 months ago and had ~780 credit at the time. 0 debt until then. I also had my limits raised, I don't really car though. I've never carried a balance and never will. I will (and have) forgone food before I pay them interest.
12-17-2009, 10:44 AM
#45
It all started (for me and my wife) in March of this year. First Discover, then BofA, then Chase, then Citi. I called each and let them know they will see no more money from me since they essentially converted every outstanding balance into a personal loan at 20% APR. They did this by systematically increasing the interest rate and decreasing the available credit.
It is no longer a "credit" card if there is no balance left to borrow on.
Mind you, I have not missed a payment in about 15+ years. Been late not more than 3 times, and that was 10+ years ago (correcting my previous post, since I remembered being late for a few payments back when I lived in San Diego).
12-18-2009, 12:32 AM
#46
My thoughts exactly.
It all started (for me and my wife) in March of this year. First Discover, then BofA, then Chase, then Citi. I called each and let them know they will see no more money from me since they essentially converted every outstanding balance into a personal loan at 20% APR. They did this by systematically increasing the interest rate and decreasing the available credit.
It is no longer a "credit" card if there is no balance left to borrow on.
Mind you, I have not missed a payment in about 15+ years. Been late not more than 3 times, and that was 10+ years ago (correcting my previous post, since I remembered being late for a few payments back when I lived in San Diego).
It all started (for me and my wife) in March of this year. First Discover, then BofA, then Chase, then Citi. I called each and let them know they will see no more money from me since they essentially converted every outstanding balance into a personal loan at 20% APR. They did this by systematically increasing the interest rate and decreasing the available credit.
It is no longer a "credit" card if there is no balance left to borrow on.
Mind you, I have not missed a payment in about 15+ years. Been late not more than 3 times, and that was 10+ years ago (correcting my previous post, since I remembered being late for a few payments back when I lived in San Diego).
imo, a little line about debt restructuring on your credit might be worth not giving those f**kers any more interest especially after the bailout.
