Does anyone know anything about credit?

I don't think they're goin to give us a hard time. We're getting the 'B' credit rate, b/c of a recent college grad program. I mean I'll buy a 'B' rating to start, but 'C'???

Does anyone know what ranges constitute which tiers, generally speaking

if a credit report is taken on you, by law you have a right to see it. Know that some car financing banks require that your credit is 700 and above to qualify for the best rate offer.

Shop it girl...you have nothing to lose.

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Posted by Blu-ize

if a credit report is taken on you, by law you have a right to see it. Know that some car financing banks require that your credit is 700 and above to qualify for the best rate offer.

Shop it girl...you have nothing to lose.

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I'm So annoyed. We got SO much misinformation it was ridiculous. We got there today and they said we had 'b' credit, we asked to see the report they used and they showed us a score that was a full HUNDRED points below what we had gotten. It wasn't from one of the big 3 companies, so we were concerned, also, what he was showing us was based on our application for a used car,not for the car we actually ended up getting (it was at sister dealerships so they info was centralized). I asked if the company we were using used that report, he said, they use experian, but experien gave us a much higher rate than that. We just kept getting jerked around. Also we were told that with the collge grad program we'd get automatic A credit (we didn't know if we'd be A or B, since we're borderline..but we know were' NOT 'C' credit), and our first payment paid. But he made no mention of the college grad program, and when I asked about it he got testsy and changed the subject. I am So fortunate that I know the manager there, or else we'd have been up a creek entirely. The finance guy was telling us finally that we got approved on our own merit but not through the colelge grad program and first he was telling us it was b/c FH's diploma had no date (It had a date, but his entire diploma is in latin. The thing is, if these people have a long stnading college grad rogram, then they should expect that some of the dates will be in latin) Then I pointed out the date and he was saying the proof of incme we gave wasn;t enough, and when we questionied him on it, he said he had nothing to do with it and it was the bank and blah blah. It was SO annoying. I mean either he knows why or he doens't, or he's FULL of it. So I spoke with the manager, and he helped us to settle SOME of the confusion. He said the college grad program wouldn't bump us up a tier as we had previously been told, it just gets our first payment paid, but you know what if I can get it paid by them and not me of course I want it. So long story short we got the car and we're waiting on Monday to find out why the college grad thing didn't get approved, and hopefully we can send them whatever info they need. I don't mind the 'b' credit thing. Admittedly, we have 'young' credit, so we're borderline, but when we were told we had 'C' credit I was TICKED off. Then the fiannce manager was shwing us how high the interest rates were on the used car loans and I said 'you're not impressing me.' He was trying to say we were somehow lucky to have gotten approved and gotten the rate that we did. I don't think we're lucky, I just think we've worked hard on our credit. BLAH. So anyway, it was a thoroughly annoying experience and had I not known the manager and had he not been so nice and personally stepped in for me, we would have walked out without a car today!!!

Also, I'm calling the credit company and I want to see the report THEY used to determine our credit not the one some loser used car dealer used. this guy is telling us a fic score is a fico score, so it dones't matter, een after I showed him our scores which were way higher. To which he basically said 'good for you.' We weren;t looking for a pat on the back, just a good rate. I'm not letting this go!

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Posted by cjb88

I have never heard credit being catagorized as A, B, or C... just in number ranges...

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I guess each letter corresponds to a number range. I think for them 680+ was considered 'A Tier'

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Posted by Blu-ize

I would still shop it. This sounds stupid. I've done a ton of car negotiations and this stinks so much that it would knock a buzzard off a sh*t truck!

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ROFL

I'm SO upset. The sales manager apologized up and down. I've known a lot of these people for YEARS since I used to work there. This finance guy is new and apprently it's not the first time he's been so rude. I don't think it was the bank, I think he just didn't submit the right info the bank, because he was so defensive. If he had done all he could and we got a bad answer from the bank his attitude would have been different. I didn't expect ANY problem, my car is financed through VW credit as well, and the whole process went SO much more smoothly, and it was under my dad's credit which at the time was not as good as FH's is now, so I have NO idea why this guy is giving me shizz!

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Posted by marymoon

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Posted by Blu-ize

I would still shop it. This sounds stupid. I've done a ton of car negotiations and this stinks so much that it would knock a buzzard off a sh*t truck!

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ROFL

I'm SO upset. The sales manager apologized up and down. I've known a lot of these people for YEARS since I used to work there. This finance guy is new and apprently it's not the first time he's been so rude. I don't think it was the bank, I think he just didn't submit the right info the bank, because he was so defensive. If he had done all he could and we got a bad answer from the bank his attitude would have been different. I didn't expect ANY problem, my car is financed through VW credit as well, and the whole process went SO much more smoothly, and it was under my dad's credit which at the time was not as good as FH's is now, so I have NO idea why this guy is giving me shizz!

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Sounds like a case of a$$itis.

when i was shopping around for a car last year i applied for a loan that required excellent credit and was denied. i have stellar credit and was .

a few weeks went by and i received something in the mail stating they had made a mistake and i did qualify. needless to say i had moved on and found someone else. i wouldn't want to deal with a company that could screw up something like that right off the bat...

i wouldn't worry so much, just shop around and find the best rate you can get!

well congrats, i would throw in some change if i saw you!!

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Posted by jandt2006

well congrats, i would throw in some change if i saw you!!

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aww.thanks! you're so sweet!