Re: $0 balance credit cards included in debt calculations????
If a lender pulled my credit report, looked at all the available credit and minimum payments from when there were balances and tried to include those in DTI, i would laugh in their face and walk out the door. There are plenty of lenders who will look at what you are actually obligated to pay each month without trying to predict what you might spend in the future.
Re: $0 balance credit cards included in debt calculations????
@MovingForward_2012 wrote: Maybe it was because I had a small balance on each card when DU was done because even though I pay the full balance every month, I often make charges before the credit card balance is updated to my credit reports.
When you say you pay it down every month, do you mean on the due date, and then keep it at $0 until the statement gets cut? Or you pay it down to $0 on say the 1st of the month and then start using it again, not keeping track of when your statement actually closes?
Re: $0 balance credit cards included in debt calculations????
My LO told me the same thing, but in the DU copy, i got from him, showed actual minimum payments from my CR. no 0 balance Credit Cards were included. I didnt push the matter any further.
