topic Re: PenFed CC denial based on DTI in Credit Card Applications

PenFed CC denial based on DTI

Anonymous — Mon, 23 Jul 2018 12:34:26 GMT

I just received an auto loan with them for 51k at 4.4% a few days ago. We'll have the check to give the dealership tomorrow. I figured I'd not waste the HP and apply for Powercash and maybe do a balance transfer on it. They denied me for DTI. My DTI is 40.5%. Is there any point to recon? It went to a loan officer for review initially, so it wasn't a computer response. Credit score 717.

Re: PenFed CC denial based on DTI

Anonymous — Mon, 23 Jul 2018 13:18:32 GMT

Try Googling "What is the '28/36 Rule'"

then, make up your own mind.

My guess is they don't want to risk any more than they have already at this time. If you can improve you DTI ratio quickly, I think the HP is good for 90 days.

Re: PenFed CC denial based on DTI

Anonymous — Mon, 23 Jul 2018 15:18:15 GMT

Thank you. I realized a bit ago that I didn't include a yearly bonus in my income I submitted to them. With that, it brings my DTI to 35.8%. So, I'm asking for a recon.