I asked what the current rate was and she told me 5.19%. Maybe they haven't updated their website.

The phone # is 1-888-222-5601.

I have my mortgage w/ Chase and refinanced last year (easy process too for a refinancing). I have only been pleased with them and would recommend them highly.

 

Va Gentleman - I don't understand something.

I got a quote fom People First on $30,000 for 60 months at 5.49% and it was $572.90 a month for a total of $34,373.78.
Why was yours $578 a month at 5.19%?

Just trying to figure this financing thing out.

 

Ok, I just checked on things. It seems that their current, best rate IS 5.19%. However, the rate I got was 5.79%. Sorry for the confusion.

I thought I had excellent credit..mmm.

 

Thanks for the feedback VaGentleman. I called and they said 5.49 for Florida, sames as Peoplefirst. Good to know the Refi went good. I just started yesterday, but it seems to be easier with the existing company. Saludos.

 

I think he is talking about the checks you get from the credit cards offering low interest on amounts until payed off, I just got some for 4.5%, and my paperwork says I can use to transfer balances from other cards or as cash and deposit in my account. If I couldn't get a car loan with a low rate I might consider it but if you are looking at any financing in the future a credit card balance of 30K affects your score much more than a secured auto loan.

 

Wow!!! Sweet deal. If you don't mind me asking, what kind of score(FICA)/credit rating would you say you have? Does carrying some credit card debt actually help? Answer what you want...any info is appreciated. Thanks.

 

Last time I checked I think it was in the 700's, but it's been a while. I filed jointly with my wife so that helped.

We have a mortgage on a house that we've been paying for about a year. I generally have a fair amount of credit card debt because I pay for EVERYTHING with my SkyMiles American Express. However, I always pay it off each month.

From what I understand, your current credit card balance counts as debt that will lower your score (it's the making payments over time that raises it). So sending in an early credit card payment for the month can sometimes improve your score.

I would guess that it's the mortgage that helps the most in my case. Oh, and my wife has a loan for her car.

Good luck with your financing.
--
Jeff

 

Unfortunately, paying off your credit cards each month (while a great policy to have as well as a commendable tactic) doesn't help your credit. Carrying a balance and consistently paying it off monthly on time will improve credit. Having a mortgage should be helping you. Other loans help as well.

Yes, current credit card debt does count on your credit.

Regards,
Todd

 

Is there a ratio or formula to follow regarding credit card debt?
How much is good? I only have one credit card with a $7,000 limit and $1,000 balance. I also have a 10K student loan. I'm making regular monthly payments on both. Am I doing ok?
I'm only asking because I was going to pay off my whole credit card balance and a third of my student loan before I read this thread.

 

I was just approved at a rate of 4.75%. To get this rate you have to let them withdraw the money automatically from your checking account each month.

 

Does anyone know what the ratio of principle vs interest is thru eloan and ppl1st? For example, at Travis Federal credit union, all the interest is calculated beforehand and your payments pay off all the interest you'll owe before even TOUCHING principle. When this happens you wont save any money by making double payments or whatnot, it'll just pay off your loan that many payments sooner. Some places do it 50/50, and some on a sliding scale.

 

If you have the cash go ahead and pay what you can off, and keep using the credit card for expenses you normally pay cash for and pay off every month, use a card that offers miles or points, just be disciplined on don't spend the cash also, set it aside for the monthly payment to the card. If you want look into the credit services offered by Experian and Equifax they are offering 30 days for free and I one of them at least has a feature that allows you to simulate various things such as lowering balances or increasing loans to see how they would affect your score.

 

All of the loans I have had are I guess on a sliding scale, where they calculate the interest based on your current balance usually on a daily basis, Travis is screwing their customers, but thanks for the heads up I will check my eloan to make sure that is not the case, too many people to keep an eye on and keep from screwing you.

 

I too was planning on using the card for the down payment (just for the points, I was going to pay it off immediately), but be aware that most dealers will not let you do this as the credit card company gets like 4% of it. My dealer says he will only let me put 2k on the card. Oh well, 2000 free AMEX points for me!

Spencer

 

I too would like to know the answer to this.

Spencer