No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I would steer clear of Auto Credit Express. It is a lead generating company for dealerships. They do not pre-approve you, they simply sell your credit information to a dealership and the dealership will then pull your credit and have authorization to submit your credit to any lender they have, often generating ton's of inquiries.
@NaaryalHead wrote:
Thanks for the wonderful info guys.
Yes i pay the full 1400 rent.
I live comfortably as is. Are you saying its hard for them to approve me with 44% going to rent? I do have plans to switch careers or move to a cheaper area but my wife loves it here.
My understanding is that yes, that could be one of the reasons you're being passed up. Ideally, lenders want to see a Debt to Income ratio of 36% or less. Your scores are pretty good, and you have several cards with a high CL. But the low income combined with your higher rent obligation is a negative in their eyes. My rent is $1600, but I split it with my fiance, so my obligation is $800. With my income, that means my DTI was only 15% when I applied, which I think helped greatly in my case because I only have EXP reporting and 2 credit cards with low limits (which I PIF every month) at the time I applied . I think you said you are a member of two credit unions? Maybe you can talk to them about your case to see what they say and if they'll work with you...especially since you're an existing customer.
*Edit - I'm assuming the income you posted is before taxes. DTI is calculated on your gross income.