Reply
Member
Posts: 14
Registered: ‎12-01-2012
0

First time loan assistance!

Hello myFICO ppl,

 

A little background on myself:

24 year old male

33k a year

At current job for 6 months  (Salary post college career job)

Was unemployed for 6 months prior to new post college job.

Employed at company for 4 years prior to unemployment.

 

Low monthly expenses (living at home with parents)

Individual user Credit Card with $3,600 limit (balance $150) Credit history: July 2011 Wells Fargo Bank (Have Checking there)

Authorized User Credit Card with $22,000 limit (balance $1,600) Credit history: Sept 1992 PNC Bank

Authorized User Credit Card with $1,200 limit (balance $0) Credit history: Aug 2001  Khols

 

No late payments - Paying way more then minimum per month.

Current experian FICO = 747

 

Credit score was lower (720) before due to carrying higher balances due to charging my last semester at college! ($3300 now 1600).

 

In August I applied for a used car loan and was denied by myself, and I applied for a new loan via FORD online and was told I had to see there financial department to see if I can qualify. I want to by a new Ford fusion ($22k) but do not know if I can even get a loan!? Anyone here can give me tips for this? I have $2,000 saved for a down payment.


Thank you for your input Smiley Happy

 

-Mr. Cox

 

Current myFICO Score: 747 as of 12-1-2012
Member
Posts: 14
Registered: ‎12-01-2012
0

Re: First time loan assistance!

Update:

I ended up attempting a blank check loan with capital-one. I got instantly approved for 25,000 plus an additional 500.01 at 2.73%.

Shocked!
Current myFICO Score: 747 as of 12-1-2012
Highlighted
Established Member
Posts: 61
Registered: ‎04-27-2012
0

Re: First time loan assistance!

Congrats!!! 

 

Did you ask for 25k or was that what youre qualified for?

Amex Gold (NSL) 9/12
Chase Freedom (2200) 5/12
Citi Thank You Pref. (7000) 4/12
USAA AMEX (4000) 11/12
BOA VISA SIG CASH (5000) 12/12
Amex Gold Small Biz (NSL) 11/12
Member
Posts: 14
Registered: ‎12-01-2012
0

Re: First time loan assistance!

I asked for $25k flat just in case. Wont dare spend that much though. Surprised they gave me a penny over much less $25, 500.01
Current myFICO Score: 747 as of 12-1-2012
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.