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Occasional Contributor
I have had really bad credit. I believe when I started to repair it was a 530ish but after getting a USAA secured card and paying off something its has begun to go back up. I currently have a 650. I have a vehicle loan that I have financed about 23% percent or something incredible high. My car payments are 695 a month. My question to you is do you think my score is good enough now to get a better interest rate with someone or should I continue to wait? I also have one utility bill in collection but, I am disputing that at the moment because its not accurate.

10 REPLIES

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Yikes. If pay off anything in collections before attempting to refi, even if it's disputable. It may not worth the headache to fight.
Yikes. I'd pay off anything in collections before attempting to refi, even if it's disputable. It may not worth the headache to fight.
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I have one item in collection due to a deployment Verizon did not honor its ETF rules in my contract. I have a dispute with Experian as we speak. I don't think I should be paying that off without first hearing what they would do seeing as how its not my fault. 

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Hello I got mine up to a 680 but for Usaa it's 652 I refinanced and got a 5.99% interest rate. Your current score should get you a 9.59% the pull experian now for auto loans hope this helps.
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Thank you Mrs. Wooden for you response. Are you saying that USAA requires a 652 before you can refinance?

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Hi S3maj,

I encourage you reach out to our Financial Improvement Team at 1-800-531-USAA(8722) extension 2-4483. This team concentrates on member assistance related to: debt management, budgeting and building/maintaining credit. Hopefully they can help you with the decision to refinance your car! Thank you for posting here in the community and best of luck!

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I have called that number numerous times ma'am. I have been on hold over an hour every time. 

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Dear s3maj,

Thank you for following up. I have an updated number to provide (800) 245-9360 (open between the hours of 8am-6pm central time), but have also asked that a banking specialist reach out to you personally. Thank you

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You may not be at fault, but if the bill is fairly minimal (less than a thousand) then it may be worth paying off. Your credit score is severely damaged just because it's on there. It could save you a ton more on the refi