10-02-2009 08:51 PM
I requested a CLI for my NFCU CC. It was denied due to insufficient income to request the increase in the credit card. I actually don't question their denial-- my credit is fine, but my DTI is not so great. I actually just wanted the increase so that I could transfer a balance- otherwise I had no business requesting the increase.
BUT- my question is about the questions they asked when I made the request-
It asked for the Primary Cardholders income- so I just used my income and not DH's.
Then, was the question about Monthy Housing Payment- I gave our total mortgage, and I'm wondering if I should have done that. Should I have included insurance and etc, which is included in our mortgage and should I have divided in half, since DH also provides income for rent?
10-03-2009 12:07 AM
If just my income is in question and they ask about monthly housing costs, I don't tell them the full amount, I tell them the amount I am actually paying, currently it's about 50% of the total bill, and I don't include insurance or anything like that.
That may not have affected their decision but you never know, but I've done the same thing in the past, live and learn
10-03-2009 07:35 AM
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). 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.