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God I love Patelco....


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So I want a new car...something a little less expensive.

Applied with HH as my current auto loan is through them, they approved me up to $33,185 @ 12.69% (which I TOTALLY dont get as my current loan is 6.2) :?

Applied with CapOne (dont hit me) and they approved me up to $42,000 @ 10.9%....mmm...not bad...but not good enough. :cool:

Applied with good ole Patelco.....approved up to $30,000 @ 5.2% YAY!!!

Gotta love it. :wink:

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IF, you don't have any charge offs or judgements or past due accounts! However, most of the people on this board have some, if not all of the above! If you have good credit, SURE it's easy to get loans like that! If I didn't have a jugment and a charge off (5 yrs ago, otherwise perfect history), then I could probably get 0% at any car dealer! For those of us re-building credit, Patelco is not useful unless all of your negative items are paid off.

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I couldn't disagree more.

I just secured an auto loan with patelco for $32K for 4.2%. My scores are in the mid-600's and there is one collection on there that I am working on getting rid of because it is legitimately wrong (as in, not mine) -- but it IS still on there.

I just did all this in the last few days.

Congrats Morrow!!!

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IF, you don't have any charge offs or judgements or past due accounts! However, most of the people on this board have some, if not all of the above! If you have good credit, SURE it's easy to get loans like that! If I didn't have a jugment and a charge off (5 yrs ago, otherwise perfect history), then I could probably get 0% at any car dealer! For those of us re-building credit, Patelco is not useful unless all of your negative items are paid off.

You have some anger issues with Patelco, and next time instead of bashing about them in my thread...how bout ya pick up the phone and tell them how you feel.

FYI...my reports arent completely clean...I DO have collections...I DO have a charge-off...and I DO have an account with late pays.

Like I said before...just cause you had your bad experience with them...doesnt mean the rest of us will. :roll:

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IF, you don't have any charge offs or judgements or past due accounts! However, most of the people on this board have some, if not all of the above! If you have good credit, SURE it's easy to get loans like that! If I didn't have a jugment and a charge off (5 yrs ago, otherwise perfect history), then I could probably get 0% at any car dealer! For those of us re-building credit, Patelco is not useful unless all of your negative items are paid off.

Yeah - definately off the mark there...

I've gots me:

• BK7 '01

• Open collection

• (3) 30d lates within the past 2 years

• 82% utilization

But today, they were kind enough to lend me $30k for a new ride.

Seemed Patelco was useful for me :cool:

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Patelco has been generous to me as well, they agreed to re-finance my car loan right away (they only approved me for the book value, can't blame them). I have two COs on my CR.

But I'll take less than 6% over the 23% APR I currently have anyday!!! :lol:

HH has been over charging me for way too long!! :evil:

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I think the problem is that I have only been on my current job for 2 months, although I have had the same position for 3 years with increasing pay. I think a lot of lenders won't consider you if you have less than a certain number of months on the job. In my business (mortgage banking), this is quite normal because it is 100% commission. I think this has been one of my biggest problems re-establishing credit. Sometimes I think it would be better to take a job paying half as much so my income would be more stable.

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I believe they often take into consideration the similarities of the job.... meaning if you've been a mortgage broker for 6 years, and took a new job with a new brokerage recently, it's a "lateral" move.

It's not like going from a business owner to a dishwasher or a teacher to a office manager.

The way the job market is today, nobody's job is safe. If creditors want to keep reaping profits, they have to have some considerations....

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