Hello,
I filed for Bankruptcy less than 2 years ago and was discharged in May 2004.
At the time I had a 1998 Ford Ranger that was in decent shape, and was going to last for a few years.
Just for a refrence, I applied for 2 Credit Cards, both Capitalone cards. One is a visa and one is a mastercard. $1000 limits. I bought some stuff with them and basically have been paying 10% of what the bill is.
Well, 2 weeks ago, I decided that I wanted a new car. So I started applying for 'credit' with the big auto dealers, needless to say, rejected, not even a single high intrest rate offer.
So, my last option before getting someone to co-sign was trying to get a loan with someone I had a established credit history. So I applied for a 20k loan for 72 months(lower monthly payments
) with Capitalone, and to my surprise I got a instant response with an offer of 6.44%. I went out and bought the car I had my eye on, a brand new Mazda 3 Hatchback. Also the dealership wanted to see if they could beat 6.44%, but the fiance manager laughed and couldnt boggle how I got such a low rate.
So, by me waiting, I got a excellent deal.
Good luck to everyone
Whats in your wallet
I filed for Bankruptcy less than 2 years ago and was discharged in May 2004.
At the time I had a 1998 Ford Ranger that was in decent shape, and was going to last for a few years.
Just for a refrence, I applied for 2 Credit Cards, both Capitalone cards. One is a visa and one is a mastercard. $1000 limits. I bought some stuff with them and basically have been paying 10% of what the bill is.
Well, 2 weeks ago, I decided that I wanted a new car. So I started applying for 'credit' with the big auto dealers, needless to say, rejected, not even a single high intrest rate offer.
So, my last option before getting someone to co-sign was trying to get a loan with someone I had a established credit history. So I applied for a 20k loan for 72 months(lower monthly payments
) with Capitalone, and to my surprise I got a instant response with an offer of 6.44%. I went out and bought the car I had my eye on, a brand new Mazda 3 Hatchback. Also the dealership wanted to see if they could beat 6.44%, but the fiance manager laughed and couldnt boggle how I got such a low rate. So, by me waiting, I got a excellent deal.
Good luck to everyone
Whats in your wallet
I filed BK on 3 Capital one cards, I don't think they will ever give me a credit card. I liked them they had good service, once in a while when I was late they would charge me $25 fee but when I asked them nicely they would remove it.
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