from what i was just told they look closely at dti, factoring in minimum payments on cardsvthat nothing is owed on....not saying its right but..
Even with student loans, my DTI is pretty low. I was surprised to be approved for 10K (althouhg annoyed that others got more), as that CL was double my highest (and very new) cards. But that would make sense...
add 2% minimum payment with their card ad thats how they give their limits....other factors as well
You mean they assume 2% of the CL?
yes....makes underwriting much easier
But what percentage do they ascribe to the DTI max?
from what i was just told they look closely at dti, factoring in minimum payments on cardsvthat nothing is owed on....not saying its right but..
Even with student loans, my DTI is pretty low. I was surprised to be approved for 10K (althouhg annoyed that others got more), as that CL was double my highest (and very new) cards. But that would make sense...
add 2% minimum payment with their card ad thats how they give their limits....other factors as well
You mean they assume 2% of the CL?
yes....makes underwriting much easier
But what percentage do they ascribe to the DTI max?
I'm only at 8% even with 2% of my 10K CL.
not sure on that one but i believe it why a lot of people with good scores have been shot down
