Longshot Posted July 30, 2007 Report Share Posted July 30, 2007 I'm so happy right now. I got a truck last year and due to my credit was approved with HSBC with a 14% interest rate. I just refinanced with NFCU for 9.9%. Not the best rate they offer, but much better then I had. Plus i'm back with my credit union. I haven't been happy with HSBC overall. Link to comment Share on other sites More sharing options...
razr Posted July 30, 2007 Report Share Posted July 30, 2007 I did the same with my first car loan after BK. It was 18%, but I refinanced a year later and got a much better rate. Feels great!-r Link to comment Share on other sites More sharing options...
elyse449 Posted July 30, 2007 Report Share Posted July 30, 2007 I am so happy for you!! I'm hoping we can do this at some point to, because we have a HORRIBLE interest rate which I won't even quote here. But, if I can't get dh to help w/ the credit stuff it may be an insignificant issue compared to if we can't refi the house. Good job!!! Did you calculate how much you'll be saving?Elyse Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted July 30, 2007 Report Share Posted July 30, 2007 Congratulations! I purchased a truck last year at 18% and refinanced with HSBC for 9% last month. What was your problem with HSBC? The one thing I don't like about them is that they are ALWAYS trying to sale you something. First it was the dang credit keeper and I told them each time that I am a member of TC and myfico, yet they keep trying to sale. I eventually told them, yes, i'll try credit keeper for a free month just to compare. The next time I called it was some "discount membership club". WTF Link to comment Share on other sites More sharing options...
Heath Posted July 31, 2007 Report Share Posted July 31, 2007 Yeah, I'd like to know what it is that you're not so happy about too... I just refied my truck with them... Dropped my rate 7.1% and shaved 15 months off my loan... My payment went up overall... But I was okay with that... It went up $9 and some change... Shaving the 15 months off the loan amounts to HUGE savings... I'm saving about $5K over the life of the loan, and hey, I can pay online... More than I can say for roadloans and the 18% I was paying them... Glad I did it so far... I'll make my first payment to HSBC later this month... Link to comment Share on other sites More sharing options...
Heatherette Posted July 31, 2007 Report Share Posted July 31, 2007 Hi-This is a great post. I have a horrible interest rate on my car 18% with Chase. This was 3 years ago with bad scores (prolly upper 400s-low 500s). I was on a loan with my mom prior so I think that's why they gave me this loan in the first place. Anyhow, I have 2 years left of payments but my credit is much better now: all CR's 608-630. How do I go about refinancing my car? My monthly payment is half interest!! Should I call Chase and ask them to drop the rate or can anyone reccomend a likely lender that wil work with me. I don't want to run up a bunch of inquiries. I have 2 unpaid collections totaling $7-8K that are SOL. I have no cc debt and I owe close to $7K on my car loan. Any advice is appreciated!! Oh yeah, I am not a member of any credit unions. Thanks! Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted July 31, 2007 Report Share Posted July 31, 2007 Hi-This is a great post. I have a horrible interest rate on my car 18% with Chase. This was 3 years ago with bad scores (prolly upper 400s-low 500s). I was on a loan with my mom prior so I think that's why they gave me this loan in the first place. Anyhow, I have 2 years left of payments but my credit is much better now: all CR's 608-630. How do I go about refinancing my car? My monthly payment is half interest!! Should I call Chase and ask them to drop the rate or can anyone reccomend a likely lender that wil work with me. I don't want to run up a bunch of inquiries. I have 2 unpaid collections totaling $7-8K that are SOL. I have no cc debt and I owe close to $7K on my car loan. Any advice is appreciated!! Oh yeah, I am not a member of any credit unions. Thanks!HSBC asked me if i wanted to try for a refi when i called about my new CC with them. They did do a INQ on EX and approved me with a 608 FICO at the time. Link to comment Share on other sites More sharing options...
Longshot Posted July 31, 2007 Author Report Share Posted July 31, 2007 I have a few problems with HSBC. First off, I hate having to get a translator everytime I call. Their customer service is in India and it seems I always get someone with very bad english who I can't understand. Second, i've had three accounts with them for right at a year. I had my truck loan and two credit cards. In that year with them, my truck payment was always on time and I always paid more then the minimum due. My credit card payments were always on time an the cards were never maxed out. I recently paid the credit cards off totally.I have asked for a credit limit on both cards and was declined. I have asked to combine both cards into one and was declined. I tried for a better interest rate on the truck and was approved at a 12.9% rate. Gee I had 14.9% already. Thanks for nothing there Plus there is all the stuff HSBC tries to sell you. So i'm just fed up with them. I'll keep one card to keep history with them. But other then that i'm done with them. Link to comment Share on other sites More sharing options...
Heath Posted July 31, 2007 Report Share Posted July 31, 2007 I agree with the cards and the CLI issues... I had the same problems with them and my older cards that I closed... I've since moved my CC's to places like Chase and Amex as my credit has gotten better... Link to comment Share on other sites More sharing options...
Fizzle1979 Posted July 31, 2007 Report Share Posted July 31, 2007 I have a Ochard Bank (Aren't they owned by HSBC?) credit card I got in 12/06 for $300 limit. They just increased it to $500 without me requesting it. But I have also had a credit on my monthly statement for the past few months. Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted July 31, 2007 Report Share Posted July 31, 2007 I have a Ochard Bank (Aren't they owned by HSBC?) credit card I got in 12/06 for $300 limit. They just increased it to $500 without me requesting it. But I have also had a credit on my monthly statement for the past few months.Yep, Orchard is HSBC. How often do you use the card? Link to comment Share on other sites More sharing options...
DWFan Posted August 10, 2007 Report Share Posted August 10, 2007 Congrats on the Refi!I'm about to attempt to refi my vehicle as well. Bought it in March of this year, and of course the dealership pulled EX......the only one that still has my BK7 listed on it and my lowest FICO of the bunch. So I'm paying a tad under 9%.I'm hoping to refi with Penfed, as I think they offer 5.94%. And they pull EQ which is my best report of the three.OH--and a bit of advice for Penfed members that have Geico as their car insurance....by being a member of Penfed, you qualify for a discount from Geico. In my case it was $50 a year. Not much, but $50 is $50.... Link to comment Share on other sites More sharing options...
kp11478 Posted October 22, 2007 Report Share Posted October 22, 2007 We just did a refi with NFCU too! We originally had HSBC, got a pre-approval re-fi with Cap One and now did refi with NFCU. Rates went from: 22 (yeah, crazy!) to 15.95 to 8.95! Let me just state that I hate HSBC. I have the Orchard Bank card, have had it since 2003, never late, pays as agreed, NEVER an auto CLI and the only one that I do have (from $300-$451) was because we had a hurricane and I called and begged 5 people. I just called again and asked for a CLI and no luck. My score was about 500 when I got the thing and now, I'm at 600+. I hate them, I really do! Link to comment Share on other sites More sharing options...
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