My credit score is 649 I have D rating on transunion, I need advice?

Question

I found out that something on my credit report was not mine, it was my mothers (we have the same name) I got it taken care of. I had applied for a car loan and my interest rate was 18.9% the lowest. At the time of applying I didn't know that this was on my credit. First question, will my credit score go up? WHen will that take place? If I applied for a car loan sa? in March or april do you think my interest rate will go down? What advice would you give in tips on getting a car??

Answer 1

Yes your credit score will go up.... If you had a negative on your report that has now come off your score could go up 12 - 36 points depending on a number of things. I had a negative removed that was there 4 years and my score went from 675 to 703....It will take between 10 and 45 days for this to happen....If your score goes up more than 10 points then your interest rate bracket will be better. So yes by that time you will have a better interest rate.



ere are the score ranges:
* 760-850 Excelent
* 700-759 Very Good
* 660-699 Good
* 620-659 Marginal
* 580-619 Poor
* 500-579 Very Poor

Answer 2

1. If you remove a negative that wasn't suppose to be there, yes the score will go up.

2. Immediately once it is removed.

3. Your interest rate will go down because you have better credit plus the rate cuts will kick in.

4. You need to maintain good credit scores to get a car, getting a co-signer would help too. See this book below, go to chapter 2 and see how to build up your credit.

Answer 3

18.9% on a car is robbery. [a least it is in America.]
half that [9.5%] is more like it for a used car.

***
the place to apply is at the local credit union that you're eligible to join -- they'll have the cheapest rates.

and yes, it'll likely take the credit rating agencies a month or so to begin reporting only your credit as your credit.

Answer 4

If you want to beef up your credit score (and get better credit ranking) take a look one video-advise clip onto the emienco homepage. Could be very useful connected with your case. Veradisca & Best Regards, Neven.