@paramed3 wrote:
With the CLI in the last week it gives me a total of 20,200 CL for the 5 RC lines of credit. I got the 24 point bump this month on FICO So I think now I will sit tight. At 750 -770 FICO I am dialed in for a mortgage. More and more I see now with the recent meltdown lenders are putting more weight on income than credit score. Yes both are important but I believe if it came down to it income would take precedent over my FICO. It can't be too low but neither can your income. I started this rebuild at 533 FICO Over 6 years ago. It's been slow and painful. Banker got the most by me putting money in savings and borrow off it and it was reported to all 3 agencies then came my first credit card and it went on from there. I would hate to know I had to do all that again.
It is a very slow and painful process. I busted all the way down to 517 almost 2 years ago. I am in the mid 600s and climbing with as clean a report as I can hope for at this juncture. You are correct that many lenders are putting more weight on income and outstanding debt than they did before the meltdown. I develop homes for sale for a non-profit and the last couple of years it's been a challenge getting clients underwritten and a clear to close within 60 days for all the verification and explanations required. It's been a little better most recently, but it's still not like what it was in 2008.
Looks like you are all set to take on a mortgage. Thanks for sharing your story. Good luck to you.
Current Score: TU: 674 | EQ: 722 | EX: 717 | Last Inq. 2/16/15...Locked Up in The Garden
@Anonymous wrote:I'd like the EO email address as well. I have been sitting at the same CL since 2005. I haven't hit the Luv button yet, but my Cap1 cards are also being reported as dormant so I want to ask someone at the EO why that is in addition to why I haven't received a CLI for sooo long. My credit is far from perfect (lates from 2011 & 2012 - A very dark time), but since then I have been on-time, and use my CC's quite frequently. Just recently paid down my Cap1 cards (2) to 67% & 3%...should I have them down to $0 before I request a CLI? I just want to make sure I have the best possible chances...any advice?
Google "capital one ceo office email" its the very first one. Paying down below 30% util is best before asking for CLI.
