My question is about utl. Does it mean overall or does it refer to each card. I have several cards with a total available credit of over $8000+ most have have less than 10% utl. Two however have high utl. $2500 w/ 2200 & $1250 w/ 975. Overall utl is $3800 Would it help to spread the balance out? I have on $3500 w/ 400. I understand a total utl of less than 50% will help.
TU 624: EX 629; EQ 595
Trying to obtain better rate for 1st mortgage. In August while shopping aroung for mortgages, had 21 inq. I thought that those type of inq. would hurt me. Sent disputes explaining they were all for mortgages. Deal fell through on house. No afraid to try on new house I found.
Also. my 5 yr. $35000 car loan (11/2003) I have paid down to $4300 (less than 6 pmts). No pmt due until 8/08. CU told me that if I dont continue making pmts ($747) it could be possibly considered fraud. I paid ahead and plan to make $400 mo. pmts. Will make it paid off a original date of 11/08. Did I make a mistake paying so much ahead?
I don't believe there is prepayment penalty. I was trying to get balance low enough to have $747 pmt excluded from debt ratio on when applying for mortgage. Since it is less than 6 pmts, some mortgage companies will exlcude it.
I have an installment loan at same cu. They say they are cross collateralized. Does that mean even if I pay off the car, then they can keep me from trading for new one as long as installment loan and cu cc have balances?
I didnt understnd this when I Installement loan and cc.
It is Public Employees Credit Union in Austin, Tx.