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personal LOC

Regular Contributor

personal LOC

 I recently applied for a Personal LOC with Wells Fargo.  My scores are EQ 797, TU 775, EX 736.

I was only approved for a $ 5,000 LOC.  Part of the reason given for my low CL was no previous relationship with the bank.

Where can I get a LOC or CC with a limit of about $ 25k with my scores.

Thanks,

Message 1 of 11
10 REPLIES
Valued Contributor

Re: personal LOC

Have you tried PenFed?
Message 2 of 11
New Contributor

Re: personal LOC

I would definitely apply at US Bank because they are generous and with your scores and decent history you will be approved for 15k to 25k easily without any hassles. I applied their back in September for a personal line and was approved for 18k in two days. They said I could of received more but at the time my UTI was a bit high for their taste it was at about 18% but the whole process was very smooth.
Message Edited by JoJo74 on 12-21-2009 11:16 AM
Message 3 of 11
Regular Contributor

Re: personal LOC

If I live in Houston, can I apply at US bank?
Message 4 of 11
Regular Contributor

Re: personal LOC

Does anyone else have experience with US bank? do you think recent inquiries would prevent me from getting the CC. My scores are EQ 797, TU- 773, EX- 736.  I have around 7 to 8 inquiries in the last 12 months with 3 of those in the last 3 months.
Message 5 of 11
Epic Contributor

Re: personal LOC

USbank is usually concerned with scores over 680 and less about the other stuff. being almost 800 I would think you would be what they love to see
Message 6 of 11
Regular Contributor

Re: personal LOC

Thanks credit addict.

 

Message 7 of 11
Super Contributor

Re: personal LOC

If I can add an LOC to my portfolio, I would never apply for credit again.  Maybe in three years I'll apply for one. 
Message 8 of 11
Moderator Emeritus

Re: personal LOC


DI wrote:
If I can add an LOC to my portfolio, I would never apply for credit again.  Maybe in three years I'll apply for one. 

If you get one I wish you better luck than I had. Last year BoA closed mine with a CL of $26,500.They said I had enough credit. Smiley Happy

 

 

From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

You can do the same thing with hard work.

Message 9 of 11
New Contributor

Re: personal LOC


cpacfp wrote:
Does anyone else have experience with US bank? do you think recent inquiries would prevent me from getting the CC. My scores are EQ 797, TU- 773, EX- 736.  I have around 7 to 8 inquiries in the last 12 months with 3 of those in the last 3 months.

Why do you have so many inquires on your report within the year? Was it a mortgage or Auto loan etc....these things make a difference. If you have been applying for credit cards and your AAoA is extremely low or you have a bunch of new credit or your income is out of whack, you may have an issue getting approved......

 

I've said this before....and I'll say it again. NO LENDER wants to see a smorgasbord of new credit and a bunch of inquires when they pull a report....even if your FICO scores are high. This isn't my opinion..... it's fact.  So have your ducks in a row before you apply Low UTI, Decent income, Low inquires, Low DTI and you should be fine.

 

Even if some of these are off a bit you still may be approved for a Line Of Credit but the terms and Amount will not be that favorable. So I'll say it again have your ducks in a row........Good LuckSmiley Wink 


Message Edited by JoJo74 on 12-21-2009 09:33 PM
Message 10 of 11