I recently experienced a 90 point jump with my credit scores- from a 535 to a 625 Experian and decided to apply for a home loan. I got denied for the home loan because of my DTI- theres a new rule with FHA that student loans have to be counted even if they are in deferment- so that sent me over the edge.. SMH not to mention my car note is 628 monthly due to a prior repossesion when I lost my job in 2009. After being told no for the home loan after getting my score up 90 points I was a bit upset and couldnt understand why no-one could see the strides I had been making so I decided to see how apealing I was to cc lenders. I was sad and felt like apps were liquor and I was determined to get drunk..lol I applied for Macys, NY&Co, discover, Credit One had sent me an offer for 500 earlier this week and last, another company for a home loan.. 
WHY did I do this!?!?!? I was approved for Macys with a 300 limit (Rather low if you ask me) NY&Co 250, Discover denied me and the home mortgage I never followed up with. Of Course my TU and EQ scores drop to 614-617 but I also within this same week received a credit increase from my CapOne QS card from 500 to 1500. So hopefully my scores will even out when I pay down the accounts i have then I'll wait to return to raising my scores.
@Anonymous wrote:I recently experienced a 90 point jump with my credit scores- from a 535 to a 625 Experian and decided to apply for a home loan. I got denied for the home loan because of my DTI- theres a new rule with FHA that student loans have to be counted even if they are in deferment- so that sent me over the edge.. SMH not to mention my car note is 628 monthly due to a prior repossesion when I lost my job in 2009. After being told no for the home loan after getting my score up 90 points I was a bit upset and couldnt understand why no-one could see the strides I had been making so I decided to see how apealing I was to cc lenders. I was sad and felt like apps were liquor and I was determined to get drunk..lol I applied for Macys, NY&Co, discover, Credit One had sent me an offer for 500 earlier this week and last, another company for a home loan..
I'm really not sure bc I'm asking myself the same question. I know a 90 point jump seems like great progress, and it IS, but at the same time in the eyes of creditors its kind of like going from terrible credit to borderline ok credit. I wouldn't have attempted applying for anything with a 625 score. Please, please garden for at least the next six months. Take care of what you currently have and check on your scores after some time has passed with positive payments. Stay away from Credit One!
I understand the feeling. My scores jumped from 480 2 years ago to 560 last year to 620 this spring - to finally a high of 683 recently.
I applied for EVERYTHING. Each card was a new drug, and I needed the next.
I now have 72 inquiries, 32 cards, $24K in credit limit, and a score drop to 668.
**bleep**? Did. I. Do.
I actually have a card for Full Beauty, and they don't even have my size 
Just give it some time. Allow your scores to rise a bit more. A 680 avg would be great! Trim your recurring monthly bills as much as you can before reapplying for a mortgage.
It will get better..just takes time. I know how it feels..trust me! Once your scores rise, refinance your auto payment and /or pay it down as much as possible.
Either way the car note or the vehicle has to go in order to get your DTI in line for a home. You have to decide whats more important. The vehicle or owning a home.
