NFCU Auto Loan with high credit card use

[Anonymous]

I have 718 on Equifax and 700+ on the other bureaus.  Have high credit card usage.  I see a lot of people have been approved with lower scores than I have but couldn't find anything about credit card usage on the board. 

Any opinion as to whether I can get approved for an auto loan with the high dti? 

Thanks

[Anonymous]

I think you're mistaking DTI and credit utilization. They are 2 different things.

DTI is the comparison of your overall income to your debt every month. i.e. 3k/mo in income with 1k/mo of debt = 33% DTI

Credit Utilization is the amount of credit you use compaired to what's available i.e. 5k credit line and you have a 3,500 balance = 70% utilization

Idealy you want to try and have your DTI below 50% and your Credit Utilization below 10% as they are both contributing factors in getting financing but with your fico you should be alright in getting financing it just may be at a higher interest rate if you're too high in debt already.

[Anonymous]

Thanks for responding - yes, I made a mistake here.  My DTI should be okay.  It's the credit card usage that is high.  Will be applying next week.  Was just wondering if anyone had experience with Navy Federal under the same circumstances.  Thanks!