MaxedOut Posted September 29, 2007 Report Share Posted September 29, 2007 We have been paying a high interest rate on TW's car loan for a year now. I think it was around 16%. We just got her only collection account removed earlier this month (score went up quite a bit after that) and decided to try and refinance now.Today we called Penfed to open an account for her. I know they pull a report when setting up an account, but I wanted to see if they would use that same report to approve a car loan so we didn't have to take 2 hits (planned to refinance in a couple weeks). They were able to do that for sure if she refi'd within 24/hrs but couldn't guarantee the current rate as it is only valid this month. We went ahead and refi'd and she got approved for their auto rate of 5.29% after opening an account. Then, they offered a credit card with a limit of 6k! Yea... that was a no brainer.Needless to say we are very pleased. The only other credit card she had is cap1 with a $750 limit, so this was a nice boost. Link to comment Share on other sites More sharing options...
whocares Posted September 29, 2007 Report Share Posted September 29, 2007 way to go....The system works...and your proof Link to comment Share on other sites More sharing options...
debtmamma Posted September 29, 2007 Report Share Posted September 29, 2007 that is great! Link to comment Share on other sites More sharing options...
on-rt-track Posted September 29, 2007 Report Share Posted September 29, 2007 Congratulations! I know I wish I would have found this site years ago. I paid about 16.5% interest on my car loan for the entire 60mo. Not anymore my scores are on track now! Link to comment Share on other sites More sharing options...
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