DTI

[Gracie15]

When getting a car loan, do banks figure dti on all credit cards even without a balance? I have 6 cards that have 0 balances, except one. Will all 6 min payments be figured in to the dti or just the one with a balance.

[Anonymous]

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@Gracie15 wrote:
When getting a car loan, do banks figure dti on all credit cards even without a balance? I have 6 cards that have 0 balances, except one. Will all 6 min payments be figured in to the dti or just the one with a balance.

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Just the one with a balance

[Hoya08]

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@Gracie15 wrote:
When getting a car loan, do banks figure dti on all credit cards even without a balance? I have 6 cards that have 0 balances, except one. Will all 6 min payments be figured in to the dti or just the one with a balance.

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Banks will use the minimum payments from all credit cards (amongst other credit obligations) to determine your DTI.  Since 5 cards have zero balances, respectively, those 5 have zero minimum payments and does not affect your DTI.

[Gracie15]

Thank you Irish80, from a born and raised Irish fan from South Bend.

[Luscher]

DTI is your payments you make a month. So say you have a 300 car loan and well lucky you, you only owe $30 on your CC this month. And you rent so you have no mortgage. Your DTI is that $330/your monthly income.

But say you have a mortgage a car loan student loans etc. Then what ever you pay monthly on those loans are factored into your DTI.

[Gracie15]

Great, thanks all!