18 People Helped
Member Since: May 2009
Send more info about why your credit is so low. Maybe there are some things you can clear up before applying for loan. The more times you pull your credit report for car loan the more dings you have your credit. So best to be well prepared :)
ajones6805's response was:
I had hard hits from Tmobile and wrote a letter to them asking to remove it and they did.
Is that a typo or really 141 apr?
Not sure of the exact amount, but I had a $700 debt removed and my score went up 16pts.
A zero balance is good, but it will not remove the negative tradeline associated with that debt. It will just state "paid", "paid in full" etc. If you can pay for delete or PFD that would be good. Sometimes, you can pay for the debt and have it deleted off your report. Or if you paid the debt already you can possibly send a goodwill letter. There are plenty of sample letters on Credit Karma forums :)
Sorry - I don't know if that answers you credit. But I did get a car loan with 535 but with high interst. I paid on time and my credit went up a ton. I was willing to pay high interst to boost my credit
ajones6805's reply was:
I had a 535 score with a car repo. I thought I would never get the score higher. I went to credit classes at a local place, budgeted a lot, and got advice on my credit situation. I paid off small debts that I owed and sent letters to the company asking to remove the paid debt off my credit. Which it always work! Just a letter of goodwill to remove the debt that is now paid. I watched my credit like a hawk. I also read and was told that big debt that is about to come off anyways to let it just come off and save your money. I still have the repo on my credit report, but now I have a 690 score. I went to a lawyer and they told me to not mess with the repo at all. Anytime you pay a payment or what not is "activate" the account, starting the 7 year owed debt again. I opened a secured credit card with capital one and that really boosted my credit. Stay under 30% and pay on time always. I only put a very small amount on the card, but if you keep a good track record, Capital one puts more credit limits on the card. I am now at 1,000 credit line. I also am an authorized user of my husband capital one card (which I never use) but he uses and always pays on time. Good luck!
You're entitled to one free copy of your credit report every 12 months from each of the three nationwide credit reporting companies. Order online from annualcreditreport.com, the only authorized website for free credit reports, or call 1-877-322-8228. You will need to provide your name, address, social security number, and date of birth to verify your identity.
From FTC gov website