2 years 1 month after discharge-3.9% Subaru Loan

[Logan]

I just bought a Subaru Limited and was approved for 63 months at 3.9% and 4.5% at 72 months.

I put a bunch of money down so I'll never be upside down but no down payment was required.

BK has been very very good to me

Logan

[mom2three09]

Congrats! What were your credit scores like?

[sguerra923]

I just bought a Subaru Limited and was approved for 63 months at 3.9% and 4.5% at 72 months.

I put a bunch of money down so I'll never be upside down but no down payment was required.

BK has been very very good to me

Logan

Damn!!! Congrats!!

Where did you get the loan? A credit union? Cap one?

[mikemike]

Damn!! thats great...excellent interest especially after bk..good job..congrats! what bank?

[Logan]

The loan is from Subaru and I don't know my scores. A few months back my mid FICO was in the 680's but I don't keep track of my scores anymore since there is nothing I can do about them except pay my bills on time.

Logan

[mikemike]

Oh not bad..Well is good to know so u can compare and know where u heading even though u paying ur bills. Is good to know from time to time..atleast in my opinion lol..it makes me feel better when it goes up

[sguerra923]

The loan is from Subaru and I don't know my scores. A few months back my mid FICO was in the 680's but I don't keep track of my scores anymore since there is nothing I can do about them except pay my bills on time.

Logan

Just curious what credit lines do you have? and what are the limits? Just wanted to make sure im on that point when I try to refi my current car loan..

[aces67]

Congratulations! That's a great rate!

[Logan]

Just curious what credit lines do you have? and what are the limits? Just wanted to make sure im on that point when I try to refi my current car loan..

Current credit lines:

Jared Jewelers: 11K
WAMU CC: 7K
Dell CC: 4K
CapitalOne CC: 3.5K
Juniper CC: 1.1K
Juniper CC: .5K

I am paying down the Jared on a 0% loan.
Everything else is 0 or very low balances and paid in full every month.

Logan

[sguerra923]

Current credit lines:

Jared Jewelers: 11K
WAMU CC: 7K
Dell CC: 4K
CapitalOne CC: 3.5K
Juniper CC: 1.1K
Juniper CC: .5K

I am paying down the Jared on a 0% loan.
Everything else is 0 or very low balances and paid in full every month.

Logan

Hey Logan thanks for the info.. Dang I don't have that many trade lines as you do hopefully my credit union wil get me something better in a year.

So far I have:

Cap one CC: $500 <--lol just got it 4 months ago. Paying on time and paying it off every month.

Toyota Financing: 28k just got last month.

So I'm hoping (fingers crossed) that just paying on my lines for one year (until I reach my 2 year mark since my BK discharge) should boost my score and get a good APR from my credit union.

[Logan]

Hey Logan thanks for the info.. Dang I don't have that many trade lines as you do hopefully my credit union wil get me something better in a year.

So far I have:

Cap one CC: $500 <--lol just got it 4 months ago. Paying on time and paying it off every month.

Toyota Financing: 28k just got last month.

So I'm hoping (fingers crossed) that just paying on my lines for one year (until I reach my 2 year mark since my BK discharge) should boost my score and get a good APR from my credit union.

I was very aggressive with obtaining credit the 1st year out of BK and it sure has paid off. There are some companies that won't extend credit if you have a BK no matter what but it doesn't matter because there are plenty of companies that will.

Logan

[sguerra923]

I was very aggressive with obtaining credit the 1st year out of BK and it sure has paid off. There are some companies that won't extend credit if you have a BK no matter what but it doesn't matter because there are plenty of companies that will.

Logan

Sounds good.. what do you guys suggest? Should I get another trade line? Or just work with what I have so far until I reach my 2 year mark?

[Logan]

Sounds good.. what do you guys suggest? Should I get another trade line? Or just work with what I have so far until I reach my 2 year mark?

I would get another credit card if I were you. 3 to 4 trade lines is what I would shoot for and make sure you keep your balances low.

I don't really follow the recommended rules and I'm not having any difficulty getting credit so it can be done. The Subaru loan was my 4th credit pull in 60 days and I still got the loan at a good rate.

Logan

[sguerra923]

I would get another credit card if I were you. 3 to 4 trade lines is what I would shoot for and make sure you keep your balances low.

I don't really follow the recommended rules and I'm not having any difficulty getting credit so it can be done. The Subaru loan was my 4th credit pull in 60 days and I still got the loan at a good rate.

Logan

Yeah that's what I'm worried about just having to many inquires but I should be fine by next year.. I have 3 inquires in the last 2 months hopefully I can snag another CC.. Thanks for the info Logan