Member
Cox0924
Posts: 14
Registered: ‎12-01-2012
First time loan assistance!

Hello myFICO ppl,

 

A little background on myself:

24 year old male

33k a year

At current job for 6 months  (Salary post college career job)

Was unemployed for 6 months prior to new post college job.

Employed at company for 4 years prior to unemployment.

 

Low monthly expenses (living at home with parents)

Individual user Credit Card with $3,600 limit (balance $150) Credit history: July 2011 Wells Fargo Bank (Have Checking there)

Authorized User Credit Card with $22,000 limit (balance $1,600) Credit history: Sept 1992 PNC Bank

Authorized User Credit Card with $1,200 limit (balance $0) Credit history: Aug 2001  Khols

 

No late payments - Paying way more then minimum per month.

Current experian FICO = 747

 

Credit score was lower (720) before due to carrying higher balances due to charging my last semester at college! ($3300 now 1600).

 

In August I applied for a used car loan and was denied by myself, and I applied for a new loan via FORD online and was told I had to see there financial department to see if I can qualify. I want to by a new Ford fusion ($22k) but do not know if I can even get a loan!? Anyone here can give me tips for this? I have $2,000 saved for a down payment.


Thank you for your input :smileyhappy:

 

-Mr. Cox

 

Current myFICO Score: 747 as of 12-1-2012
Member
Cox0924
Posts: 14
Registered: ‎12-01-2012
Re: First time loan assistance!
Update:

I ended up attempting a blank check loan with capital-one. I got instantly approved for 25,000 plus an additional 500.01 at 2.73%.

Shocked!
Current myFICO Score: 747 as of 12-1-2012
Established Member
texaspete2012
Posts: 61
Registered: ‎04-27-2012
Re: First time loan assistance!

Congrats!!! 

 

Did you ask for 25k or was that what youre qualified for?

Amex Gold (NSL) 9/12
Chase Freedom (2200) 5/12
Citi Thank You Pref. (7000) 4/12
USAA AMEX (4000) 11/12
BOA VISA SIG CASH (5000) 12/12
Amex Gold Small Biz (NSL) 11/12
Member
Cox0924
Posts: 14
Registered: ‎12-01-2012
Re: First time loan assistance!
I asked for $25k flat just in case. Wont dare spend that much though. Surprised they gave me a penny over much less $25, 500.01
Current myFICO Score: 747 as of 12-1-2012