Pen Fed new auto loan

[Goro48]

Hello,

Currently paying down 5500 in cc debt and wanted to apply for a 32k new auto loan (100% financing) and would like opinions on my chances of getting approved.

Fico scoring is currently EQ 732 (which is what I believe they pull). No collections, no bk and 4 yrs of credit history.

Thanks

[Anonymous]

I'd recommend you fully pay off the cc debt first and then keep utilization under 10% for 3 months straight. I bet your credit score would go up to 760 or more. Then your chances of a PenFed loan should be very good.

[Anonymous]

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@Goro48 wrote:
Hello,

Currently paying down 5500 in cc debt and wanted to apply for a 32k new auto loan (100% financing) and would like opinions on my chances of getting approved.

Fico scoring is currently EQ 732 (which is what I believe they pull). No collections, no bk and 4 yrs of credit history.

Thanks

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What is your income?  You don't have to be spefic but rather give a range. Depending on your income, the CC debt will play tiny role and won't affect your chances of getting approved.

[sccredit]

IMO you'll be fine

[Anonymous]

Income is the main question, if you have adequate income you won't have an issue.