I contacted this member to follow up from when we tried to refinance his vehicle in December 2019, but that time he didn’t get approved. I told him I would love to see what we could do for him now – luckily he remembered our previous conversation, and wanted to see if we could save him some money. I took his application and this time he was approved! With his refinanced auto loan, his payment is lower and his APR decreased from 30.27% to 6.99%. THAT IS HUGE SAVINGS of $119 a month on his payment, which ends up saving him over $5,900 in total over the full term of the loan.
But we didn’t stop there! I also noticed he has our Visa Gold credit card with a 26.99% interest rate, so we lowered his rate and increased his limit, just in time for holiday shopping. This member was so thankful and happy for his savings, and I was happy I am a part of Qualstar so I can help our members save their hard-earned money.