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Patelco...the monster thread!!!!

By morrow, in Obtaining Credit Cards, Auto Loans and Financing

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chingasaholo

chingasaholo 10

Posted
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for a new vehicle is the longest I've seen, it has to be a new vehicle though. for a refinance they go by your mialage, etc...so the more miles you have on your car, the less length of time you can refinance for.

New vehicle loans are easy, but most people will only loan for 60 months from what I've seen. 72 months is really uncommon but patelco offers this.

keeping a car for 72 months is a long, long time...........

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DHK

DHK 611

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New vehicle loans are easy, but most people will only loan for 60 months from what I've seen. 72 months is really uncommon but patelco offers this.

keeping a car for 72 months is a long, long time...........

72 months is a long time for someone who doesn't take good care of their car (reg. maintenance & timely oil changes, etc). If you don't take care of it, it'll fall apart. If you get a brand that isn't known for longevity (eg. YUGO), your car may fall apart in spite of your best efforts.

Today's new cars are built much MUCH better, but you've got to HOLD ON to them for them to make a difference in your pocketbook. My parents have usually kept their cars for an average of 10 years each (some longer, and 1 for only 5 years).

My goal is to NOT have a car payment for the rest of my life, so I purchase my cars and not lease. I take good care of the car so it'll last me a good long time. I'm also partial to Toyotas for their longevity, so I drive an 03 Corolla. So far, it has about 54k miles and no problems (replaced tires once - originals were crap).

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dm91497

dm91497 10

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I was turned down for a lousy cost plus credit card but was approved for $7500 card with Patelco. My fico with experian is 645 with one paid charge off in 2000 for $58 and several 30-days in 2000. I applied this morning and all they want is a check stub for approval.

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edubb007

edubb007 10

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Whatever happened to this?

I actuall applied and was approved for a ton$$$$ but read someof the terms and thought it seemed scethchy! I am also looking to reverse the amount of $$$ I owe versus adding more to the problem!

I think that maybe Patelco is making things worse by lending high amounts to people who might fix more in thier file before getting burried again in debt. Just my opinion! For those of you using this to your advantage, congrats! :D

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jkwbrown

jkwbrown 10

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Status changed to "More Information"...I called.

Put on hold for a few minuates, and was turned down for a bad reporting account on wife's credit (interestingly no the BK)...

Told them to remove her from consideration and was put on hold again...we are now waiting.

:shock:

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ceowens

ceowens 128

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I was approved for Patelco Visa back in July, but never followed up with sending in my info because we had filed and extension on our taxes and I had no recent proof of income. Ended up filing and extension to our extension...and not doing taxes until this month. :shock::oops: So, I called up Patelco thinking I would have to re-apply. Nope. They still accepted my July approval and I faxed over my tax returns a couple of days ago. I'm going to call them today to see what else they need....if anything.

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jkwbrown

jkwbrown 10

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So far, I have been really happy with Patelco.

Have financed a $43000 Ford Expedition, opened a $3500 credit card, and refianced at 5.2%a small car we have (that I had at 16.5%, post BK).

I did apply for another credit card, but the well ran dry.

Overall a great start to a Patelco relationship.

My scores are low to mid 600's, but income is about $140K...I agree with someone else on this thread that they beleived that the approval process was driven, in some part, by income. Also have no lates or negatives for almost 4 years.

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edubb007

edubb007 10

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Doesn't anybody else think this is a little to good to be true? :shock:

I mean come on... 43K for a truck, no offense but our scores are a little low to through anyone a bone! I am so skeptical of them! It's only gotten worse now. :x

I know you make great money and I hope that is the major factor for your approval for so much $$$! Just be careful! :wink:

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morrow

morrow 199

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Doesn't anybody else think this is a little to good to be true? :shock:

I mean come on... 43K for a truck, no offense but our scores are a little low to through anyone a bone! I am so skeptical of them! It's only gotten worse now. :x

I know you make great money and I hope that is the major factor for your approval for so much $$$! Just be careful! :wink:

I dont think its too good to be true...afterall, they initially gave me a Visa with a $12k limit! That makes my $6k BoA Platinum limit look chinsey.

And, on another note...HH pre-approved me for a $72k auto loan! For cryin out loud...I dont need that much!

So, its safe to say that some lenders see consumers differently and base thier approvals on various different information. Although some of our approvals are similar, some are a little extreme...just all depends on the details in ones credit history. :D

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Rezin

Rezin 10

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Well, I just applyed for the Patelco Visa ($5000 requested) with my FAKO EXP being at 620. One charge off ($71 that I am still working on getting removed) and about 5 inq in the last year. Was approved for my Orchard when they pulled EXP, but have 2 other inq since. No lates recently (in years)

Wish me luck, and I'll et everyone know what a 620 will get them.......

I am self employed, so I dunno what to tell them about check stubs if they ask..........

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ceowens

ceowens 128

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Well, I just applyed for the Patelco Visa ($5000 requested) with my FAKO EXP being at 620. One charge off ($71 that I am still working on getting removed) and about 5 inq in the last year. Was approved for my Orchard when they pulled EXP, but have 2 other inq since. No lates recently (in years)

Wish me luck, and I'll et everyone know what a 620 will get them.......

I am self employed, so I dunno what to tell them about check stubs if they ask..........[/quote]

They WILL ask. I am self-employed too, and sent them tax returns. Good luck.

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afcs

afcs 10

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I am new user but have been reading these posts for a while. I too have just applied and hope everything goes well. I saw an earlier post about how the the income may have a large affect on the approval. I am military so my income only goes up to $44,000.00 a year. My scores are:

TU 657

EQ 628

EX 598

as of Dec 2004. Asking for 10,000.00 to get rid of debt. Had 1 lateness in the past 2 years but revolving credit is somewhat maxed out. Anyone with similar circumstances that has gotten approved. Will give me hope!

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gprncss

gprncss 10

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:BigDance:

Just got approved for an auto loan, we are trying to refiance our car that we have with household. Didn't get the $12,000 I was hoping for but they are willing to give us $6612 making it a monthly payment of $158.00 :D

I am so excited, thanks Marrow and others for pointing out Patelco. :wink:

They are great!!!!

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