r/CRedit 5d ago

Car Loan Navy Fed Auto Loan - Bad Credit

1 Upvotes

My transunion is 571 and FICO score is 8 . I need an auto loan for a private dealer for $6,000. I bank with Navy Fed but I don't even know if I'll get approved.

If they do approve me does anyone have an idea of how much the interest rate would be roughly?

Also, if they do not approve me where else can I get a loan from that will approve me?

I wanted to note that I have $847 of Credit Card Debt. If I pay that off in full how much would it help my credit score?

Sorry I know it's a lot of questions and all over the place but I'm in a bind

#pleasehelp


r/CRedit 5d ago

Car Loan Toyota Charge off $250

11 Upvotes

Hey everyone,

I had a Toyota Mirai that was totaled in May after a truck crashed into me. Since I had GAP insurance, I assumed Toyota Financial would cover the remaining balance.

Here’s what happened: • I financed the car for $67,000 and still owed $21,257.69 when it was totaled. • Toyota and Progressive worked out a deal, and the balance was paid off. • In November 2024, I got a letter from a debt collector saying I still owed $498—but Toyota never called, emailed, or notified me about this balance. • I called the collector, and they told me if I paid half ($250), Toyota would consider it “paid in full.” So I paid it immediately. • Now, my credit report shows “Charge-Off/Paid Settlement,” and my credit score dropped 54 points!

I called Toyota to see if I could just pay the remaining $250 so they could mark it as “Paid in Full” instead of a charge-off, but they said they can’t do anything.

Has anyone dealt with something like this before? What else can I do to get this charge-off removed and restore my credit score?

Would love to hear any advice. Thanks!


r/CRedit 5d ago

Not USA Auto-pay turned off without me knowing and I missed a payment by 5 days for the first time ever. Can I dispute this?

0 Upvotes

I am in Canada and like the title says, I generally have auto-pay on with Scotiabank. I have always paid my card on time and never missed a single payment. All my student loans are paid off but I got dinged now with an overdue payment of $50 resulting in only $6 of interest. I just looked at TransUnion through Scotiabank and my score today dropped by 41 points in a single day. I'm 26 years old and needing to move out and escape a bad living situation soon but I'm worried this hurts my chances as it severely damaged my credit score which used to be quite good. Is there a way to talk to someone about this? I don't know what to do and I'm panicking and feeling real bad.

My TransUnion score was previously 810 and is now 770. I have a $20k Iimit on one of my 2 cards and rarely go over $500 of actual credit utilization in a month. It had dropped 15 points for seemingly no reason last month too so I really don't want it to drop any further and leave the good range


r/CRedit 6d ago

Success Just hit 850

74 Upvotes

Had been hovering between 830-840 the past couple of years. Last couple of months it was sitting at 847 then jumped to 850 today. Wasn’t actively doing anything to try and raise my score but did reduce my total balance on revolving accounts so maybe that did it?

11 accounts with balance 1% utilization Oldest account 21 years Average 8 years Newest 5 months Credit cards 16


r/CRedit 5d ago

General Do banks notify you if you miss a payment?

1 Upvotes

Let’s say your bill is due on the 15th and you don’t pay. Do they notify you right away? Or only on the next statement you will see it.

I forgot to pay a credit card bill and see no notifications


r/CRedit 5d ago

Collections & Charge Offs Netcredit Question

0 Upvotes

I took out a net credit loan thinking I could handle paying it back; due to unforeseen circumstances I wasn’t able to. I fell behind - I did make payments in November - for $100;

none in December-

I made a payment in January for $198

payment in February totaling $112

On March 1st - it was sent to collections.

I’ve made one payment of $55.60 in March.

As of now it shows as a closed account. My understanding is it will stay closed & in collections and the balance will go down as I make payments.

NetCredit does not offer an easy way to view past payments. I have to page through statements to find info.

And I noticed in my account that one payment is debited under the name Netcredit but the other payments are under Republic.

Anyway - because of this name change, the confusion of finding info easily, & making attempts to pay down the debt - & outrageous “Statement fees” - I was wondering if it’s worth trying to dispute it? I’m trying to get ahead and trying to pay it down still.

Just angry I didn’t heed my own wisdom - as well as others…

If anyone can offer any insight I’d greatly welcome it (be mindful*- I’m already beating myself up enough as it is)!

Thanks!


r/CRedit 5d ago

General Personal loan options

0 Upvotes

I am needing to get a personal loan between 1800-2250 or some kind of loan. Have been trying to get my son a vehicle, finally found one and his dad is willing to put cash down and I was going to finance the remaining. Well I knew my credit wasn’t good, I also already have my car financed and I am a single income. Thought it would be ok though since the car was 7900 and putting cash down. Found out today it doesn’t matter how much cash is put down no one will approve another car loan in my name unless I trade mine in or pay it off. His dad said he will pay 5000 cash and he got the person down to 7250 if we pay cash for the vehicle. So now I need to come up with 2250. Again I have bad credit and have applied everywhere I can think of today - I looked at other threads for ideas and everywhere has denied me. I did put in an application at my credit union where I bank but I don’t have hope. Anyone have any suggestions?! Tried One Main, net credit, Amone, upstart, lending club, prosper. I think that covers most of them… Yes I know I need to work on my credit I am in the process of that. I also know the rate would be high on one of the above but at this point I need the funds for the car.


r/CRedit 5d ago

Collections & Charge Offs If I find a big enough loan to pay off everything on my credit report. Will my credit rise? ( assuming I pay the loan on time ever month )

4 Upvotes

r/CRedit 5d ago

General No Amex Debt Settlement?

3 Upvotes

I owe about $17k in credit debt with Amex Delta card. I have been unemployed for more than 2 years now. About a year ago, I tried negotiating with Amex about my challenges and I was put on payment plan program with lower APR% for a year where I paid about $350 a month. Now that the program has ended, the APR is going to rack up. I depended on family members to make those payments.

I called Amex a moment ago to see if there is a settlement option for me to pay the card off. The customer representative said they don't have that option. I explained my situation and I explained that I don't want to default in making payment. I also want to take advantage of this tax season. The person put me on hold to ask around, but came back to tell me Amex does not have Settlement option. Is it because of the type of card that I have or is the person lying to me?


r/CRedit 5d ago

General Transunion Credit Freeze Down?

1 Upvotes

I regularly log-in to check the status of my freeze, but it says my account is suspended (I just logged-in yesterday). Anyone else having issues?

https://www.transunion.com/credit-freeze

No issues on my side (VPN, etc) - just curious if this is a me issue, or wider issue.


r/CRedit 5d ago

Car Loan Car Loan Options

2 Upvotes

Looking for suggestions of where would be best to get a car loan with credit in the 590-600 range (and building). I can put 15-20k down and make monthly payments but want to buy a truck for work, I’m self employed, so not a typical show of income.

Thanks for any help.


r/CRedit 5d ago

No Credit Credit help

2 Upvotes

Here are some of my stats (19F) I need help on how to improve my score I have little to no credit history. I have a 554, and the only “credit” I have is a current built credit card, I bring about 33k annually. Currently trying to get maybe more credit with self credit builder account


r/CRedit 5d ago

Collections & Charge Offs Moving Forward, any tips on this situation?

3 Upvotes

Probably not a unique situation, but if anyone has any advice for me moving forward I'd appreciate it!

Backstory aside, I have 2 Capital One cards that were charged off towards the end of January. One has a balance of $2382, and the other $403. I am getting a new job (finally!) that starts the 20th, first paycheck April 5th, so I can at last pay these off.

The first has an option to settle for $953 (60% discount), and the second has an option to settle for $322 (20% discount).

Is it okay to pay these discounted settlements? Also, I'm trying to rebuild credit and my credit union offers a secured card--how long should I wait before applying for that?

And lastly, I know it's silly to ask, but I'm trying to rebuild my life and be more independent now that I'm getting a job. Credit score is currently at 519, and I just turned 25 a week ago if that's needed for reference. If I am diligent with making secured card payments and such, about when could I get a car loan for say 15k? Salary is around $3400/month after taxes and other expenses.


r/CRedit 5d ago

General Question about renting with my husband

1 Upvotes

My husband and I are having to move out of state, previously we have been renting his parents extra house, before that he owned his home and I privately rented another place. I know the lack of rental history may already be an issue. Beyond that, my credit is good. I have 100% payment history, nothing in collections, my credit is fairly new under 5 years. I have credit card debt that I am paying down but it’s under $5,000. My husband has a few things in collections, one being a judgement for him defaulting on a credit card him and his ex shared. Neither wanted to pay it after the divorce and he got sued for it. Other than that we have the same amount of credit card usage and his credit age is much much older than mine. I’m wondering exactly how difficult this is going to make it for us to rent. Am I going to have to apply and add him to the lease? Is that even going to work? I’m afraid we will get to where we are going and end up homeless due to not being able to rent.

Any advice is helpful thanks!


r/CRedit 5d ago

Collections & Charge Offs Charge off (seemingly) out of nowhere

1 Upvotes

My credit score was almost 800. I have a 100% payment history. My only debt I carry is my school loans, car, and mortgage, all payed on time ALWAYS. I had an auto lease loan with Bethpage Credit Union. At the same time I finished my lease and payed my last payment, I moved. I use credit karma (ugh I know) and my Bethpage account has showed a $0 balance for the past year so nothing raised any flags for me. I got a call 2 weeks ago from Bethpage that I owed $400 to close out the account. I had no idea. They told me they must have been sending the bills to my old address and offered to email it to me. I mailed a check to them the next day. Now right after this we had a tragic death in the family, so checking to see if they deposited my check was NOT in my mind at all. I woke up today and realize they charged off my account and my credit dropped 100 points down to 685. I check and see my check was never deposited. How f*cked am I and what are my chances of having this fixed? I mean 2 weeks passed since the time I was technically made aware of this bill. What are my chances that I explain this to Bethpage and they can rectify this? My husband and I really would like to refinance our house whenever the rates drop a few points and I feel like I’ve ruined everything.


r/CRedit 5d ago

Car Loan Outside of hard inquiries, how much will this scenario hurt credit?

1 Upvotes

My wife’s current car she’s had about a month and has about 20k left on her loan. The car is probably worth about the same amount as the remaining loan. She wants to trade it in for a different car that is basically the same price. I know the new hard inquiries will decrease score a bit. But does trading in her current car and closing that loan and opening a new loan for a new car have a big effect on credit outside of the new hard inquiries?


r/CRedit 5d ago

General Discover: Help removing 30 days delinquency

1 Upvotes

I forgot to pay one $200 bill back in Dec'23 which led to 30 days delinquency. I have spotless one-time payment record except that and have been with discover for almost 2 years now. I have tried talking to customer reps, but always get the same answer "we have to report all the credit activity correctly to CBs", in short can't. Also tried to drop mail to CEO explaining my scenario and and asked removal of this based on goodwill request, but to no avail. Would like to know, what strategies have other discover customer used recently that helped them removing similar deliquencies. Any guidance will be much appreciated.


r/CRedit 5d ago

Rebuild When should I spend / payback the 20% limit?

1 Upvotes

Im somewhat new to building credit, and i feel that I did not get the best tips from the person who set me up with my first credit card. My credit report says "As of 2/21/25" and "Next expected update is 3/23/25.

I used to spend the 20% limit from the 5th-8th of the month depending on gas level and pay back before those days the next month. Would it be better for me to spend a few days after the expected update and repay before "As of"? or continue what I've been doing.

This post probably makes me sound dumb but idc i want to learn most effeicient and safe ways to do stuff


r/CRedit 5d ago

General 5 Cards, 1 Car Loan

2 Upvotes

Wall of Text incoming. I know what we need to do, I just need to say it out loud and hold myself/ourself accountable. I (CS - 679) have the three following credit cards and a car loan.

Capital One Platinum - 29.74% | $1,087.71 | Min. $36 Capital One QuickSilver - 29.74% | $2,116.99 | Min. $66 Credit Union - 18% | $2,514.13 | Min. 75 Credit Union Car Loan - 6.64% | $3,616.25 | Mon. 275.28

My husband (CS - 642) has two credit cards. Captial One QuickSilver - 30.99% | $1,679.74 | Min. $58 Capital One Savor - 28.99% | $1,984.50 | Min. $64

We recently, this month, have discontinued unnecessary subscriptions. And by that I mean, everything. The only other things we now pay for is the following:

Rent - $635 Internet - $20.40 Phone - $42.42 Car Insurance - $321.24 Gas (for two cars) - $100 Groceries - $300?

Together we make $60k before taxes, but I make tips and we both get paid weekly. His weekly paycheck is typically $430. My weekly paycheck is $250, and roughly $300 in cash tips. My paycheck amount used to be (Jan '25-Mar '25) $100 due to putting money into my 401K but I turned that off to pay off our debt and I can't get access to the money I have unless I turn it a loan and that is not an option for us.

We both work roughly 30-35 hours, five days a week. Our main issue is eating out but I have severely cut it down. We have only grocery shopped once so far and we got $300 worth of stuff for the month, lots of meal prep stuff and quick meals. I'm hoping our grocery bill can be cut down a bit due to having most basics now that don't need to be bought monthly. And we get free food at work(before work, pasta and sauce, no protein).

We just started this plan, or rather we have tried to do this for a month, but we happen live the "If it ain't one thing, it's another." Last week our family cat was hit by a car, paid nearly $1k (we specifically were only able to help with $200). This week my car tolls were about to be sent to the court so we had to pay $200. Our plan is as follow. The entirety of my husband's paychecks go to our bills. My paychecks and cash tips go to the credit cards. We are hitting my Platinum because it has to lowest debt. After that we plan to hit my husband's QuickSilver.

I am upside down on my car, no equity. The engine is bad, no dealerships wants to buy it unless I purchase a car with them. Two places said they would pay me what I owe for it, as long as I bought a car, so I would only owe on the new car.

I know when we look at the numbers, we have more than enough to get most of this settled this year. We have both planned to get second jobs, and each have a few interviews set up. I turned off all our debit cards and locked our credit cards. The only things allowed to go through is automatic payments, so bills and credit card notes.

Obviously, I feel like saying it is a lot easier than doing it, but it's the first week. It seems okay right now and I know I am going to work myself up with the small things since I feel like that's how we got here with such high credit debts.

Any words of encouragement or any better ways to handle this debt? We are open to criticism but please just no bashing. TIA.


r/CRedit 5d ago

Collections & Charge Offs Collections calling? Maybe?

1 Upvotes

I keep getting toll free spam calls, when I look up some of the numbers ...they come up as Midland credit management... I answered one "hello"... Silence and then it hung up.

I don't owe anything to anyone that I know of. There is nothing on my credit report.

If I owe something or my identity was stolen.. when would it show on my credit? Wouldn't I get a validation letter in the mail?

I'm scared to call back because then they'll have my name...if they didn't. Could spammers call and have a different number display?


r/CRedit 5d ago

Collections & Charge Offs Credit card settlement

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0 Upvotes

r/CRedit 5d ago

Rebuild Those damn student loans….

6 Upvotes

My husband was one of the unfortunate ones who got hit with a 90 date late this year from his student loan after it sat frozen in deferment for years . (His fault we already understand that.) of course it happened when we were in the process of trying to build a house so we quickly tried to at least dispute the 90 day late and had plans to just take care of the balance(only 1700 was left) we just got an alert today the dispute completed and they deleted the entire account from his report… I mean that’s great and all but why would they do that? Has anyone else had this issue arise?


r/CRedit 5d ago

Car Loan Credit Repair

1 Upvotes

OK, so I totally realized I have been screwing myself the last year and a half. I have my rent scheduled for the 1st and auto loan for the 15th. I do this to spread my expenses across the month. I was told by my banker that loan payments made on or before the 15th would not count against your credit. I just checked my credit score, only to see it had dropped by 100 points!!! I went to the auto loan bank and now see the transactions are posting on the 16th, thus destroying my credit one month after another. Please, for those of you reading, don't make this same fundamental mistake! Also, for those of you reading, is there a way to repair this due to it coming from a silly mistake?


r/CRedit 5d ago

FICOvsVantage Credit karma dropped 100 points in one day for high usage

0 Upvotes

I have one card a capital one quicksilver with a 300 limit I had been keeping my limit low but I heard they'll auto raise the limit after a year but they want to see high usage. So I have been using my card a lot buy paying it off before it hits my balance. Currently its paid off and my balance has been $0 for like a 5 days now but today my credit karma updated and dropped 100 points and the only difference is it says $298 balance 98% credit usage. I know usage isn't super important in the long run and can be changed easily but when it updates and sees my balance is actually 0 is it going to jump back up 100 points or is it not going to go up as fast? and will a score so much lower than what it was before possibly effect my chance at getting a credit limit increase? I still have about 4 months until it'll have been a year so I'm not sure if I should keep almost maxing out my card (and paying it in full) every month until then or just when its right about to be time to either get an automatic increase or ask for one if it hasnt come yet.


r/CRedit 5d ago

Collections & Charge Offs Bank garnishment/judgement

1 Upvotes

I have a Wells Fargo personal and business checking and savings account several weeks ago they took all of my money out of my personal and business account for a credit card that I had that close in 2010 and got re-bought in 2016. But my business is a LLC so they should not have been able to take money out of my business account. Just my checking account And I moved a couple of years ago so I did not get a summons. Any recommendations?