I got a score of 686 in credit karma. I often made late payments for many months for my car loan as I am lost in my work. Later I automated the payments before due date. I bought Hyundai Elantra 2012 in Aug 2012.
My APR is 5.9% . I wanted to refinace the car with lower APR rate. But with my credit history , BOFA and credit union banks rejected my loan application. I paid all my credit card bills. Now there was nothing due. Which bank gives me lower interest rate loan? What do you suggest?
Thanks and Regards,
You said you bought your car this month. Did you mean August, 2011?
Your current interest rate isn’t all that bad considering a number of late payments. Is there some reason you MUST refinance at this point or are you just looking for a lower rate?
Did you use the free Credit Karma score calculator to see what you would need to do to raise your credit score?
Please post your responses and follow-up messages to me on this in the comments section below.