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Joint Account - More Income But Lower Credit Score

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Minks31
Established Member

Joint Account - More Income But Lower Credit Score

I'm thinking of applying for a signature loan through my credit union for a business loan (3-4K). Also, my girlfriend and I plan on financing furniture but after reading about the effects of CFL's I'm hesitant to do so (even though I don't plan on buying a house or car in the next 3 years).

So I was thinking about applying for a larger loan from my credit union to pay for the furniture and business, but I think it would be better to apply jointly because of the amount of income we make combined but her credit is bad.

Would her being on the application bring down my chances of getting approved even though we show enough income to afford the loan? She recently paid off all her debt and is in the process of re-building, while I have been rebuilding my credit and it's currently around 690-700. And our debt-income ratio is great. Or should I just go for the CFL since I won't be buying a house or anything anytime soon?

Any help or advice would be much appreciated.

Thanks...

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