So when I was calling my credit union on an unrelated matter last week (which they fixed crazy quick), the person I was on the phone with asked me if I'd ever looked into a personal line of credit. I said no because my credit has been so shitty for so long that I just decided that I was going pay all the money forever whenever I borrowed. She told me that actually, my credit score is nowhere near as godawful as it used to be It's 654, which while not really good, might be the highest it's ever been in my adult life. She told me to call if I was interested.
Since I'd like to have a buffer for when something unexpected comes up, I applied for a $1000 line of credit last night. This morning I got a call from the bank, asking me for some more information so they could give me an answer quickly (+1), and without prompting she asked, "I see you have an auto loan. Would you like me to see if I can get you a better rate?"
See, here's the thing. When you know you have a bad credit history, it's easy to be swindled into shitty deals, because there are so many people willing to tell you no that any yes feels like a victory. I was sure that I was out of the running for a decent auto loan, so when I went to a dealership that "specialized" in bad credit, I left with a car I didn't really love and a 15% interest auto loan (with the carrot of refinancing into a 10% in a year) at another credit union, still feeling like I'd done well for myself.
Here's where my CU really makes itself the bees' knees. She ran my numbers and called back with some good news and some bad news.
Bad news: I can't get a personal line of credit at this point because of a few older outstanding things on my report.
Good news: First, the biggest blotch on my credit report, a $2000 credit card bill, is set to fall off THIS MONTH. Second, the other outstanding negative items come out to approximately $700 total. Once those are brought current, whether by settling or paying in full, that will qualify me for a line of credit. It will also leave me with no outstanding late debts, two perfect paid-in-full car loans, a perfect paid-in-full jewelry loan, and a current perfect auto loan. I might be able to have good credit for the first time EVAH.
Second Good News: She can get me into a new auto loan tomorrow at 4.9%. My payments will go down by $110 a month immediately. I'm thinking about trading in, getting a car that I actually like - the concept of walking on a car lot knowing that I get to choose a car that I actually want is something that has, until this point, been entirely foreign to me. GTers, things are pretty good.
Also, my mood is amazing on Day 5 of Wellbutrin. This is undoubtedly due primarily to improving life circumstances and the Wellbutrin is definitely not in full effect, but I also know that my energy is improved. I also have completely lost interest in bingeing on food. In fact, eating doesn't hold a great deal of interest for me at this point. I can still enjoy a delicious meal, for sure, but food doesn't consume my mind, which is a new feeling. Is this how people usually feel about food? Anyway, thanks for listening!