topic Re: Question regarding dti in Understanding FICO® Scoring

Question regarding dti

Anonymous — Tue, 01 Jul 2014 16:43:33 GMT

When factoring in dti i know it is your recurring debt payments divided by gross income. As of right now i only carry a blance on one of my credit cards, i have one installment loan,a consolidated student loan payment, plus my montly rent. When calculating my dti would i factor just the min payment of the credit card i carry a balance on or does the usual min payment for all credit cards apply?

Re: Question regarding dti

vanillabean — Tue, 01 Jul 2014 17:59:04 GMT

A thing such as the usual minimum payment for a card may not exist.

Re: Question regarding dti

Anonymous — Tue, 01 Jul 2014 18:12:19 GMT

In theory there's no minimum payment if there's no balance on the CC.

Sometimes I have seen a minimum payment listed on a report, when there's no balance.

I assume that a good DTI algorithm would not include minimum payments that are more than the balance listed for the account.

Re: Question regarding dti

Anonymous — Tue, 01 Jul 2014 18:19:48 GMT

okay thanks so just the loan payments i mentioned, plus my rent, and min payment on credit card i carry a balance on which is 25$ divided by my montly gross. Thanks for the input.