First time loan assistance
12-01-2012 01:36 PM
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