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Can I join the NFCU family? DP's listed

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Re: NFCU Membership... APPROVED!!!!


@Saeren wrote:

I mean those scores are still plenty for NFCU as long as your DTI is still low. I understand though, no pressure either way. Smiley Happy


Probably not the thread for it so you can PM if you want, but you're best at explaining things to me lol- but what exactly does DTI mean? My income is $38,400 with $2,700 in revolving lines (Tally isn't listed on my credit report, so i'm not sure it counts?). If I don't pay in full, I only carry around $150-$235. In the last year, i've spent $2,112 of my annual income on credit card bills, $1,136 on healthcare, $4,873 on groceries, $4,507 on regular bills, $937 on gas and about $600 misc transactions. So about $14,165/36% of my income.

 

 

Open LOC:
Paid-off Installment Loans:
2018:
2019:

IN THE GARDEN UNTIL DECEMBER 17, 2019!!
Message 31 of 37
Super Contributor

Re: NFCU Membership... APPROVED!!!!

DTI is your debt obligation (current credit card minimum payments + installment loan amounts) plus housing costs divided by monthly gross income. 

 

From your numbers, it looks like your DTI is more than fine. 


01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Does it look like I really need any more cards? My goal is to garden until 2/2020.
Message 32 of 37
Frequent Contributor

Re: NFCU Membership... APPROVED!!!!


@Saeren wrote:

DTI is your debt obligation (current credit card minimum payments + installment loan amounts) plus housing costs divided by monthly gross income. 

 

From your numbers, it looks like your DTI is more than fine. 


Excellent, thanks for clearing that up. Going off that, my Capital One isn't more than $25-$35/mo minimum payment and the Discover always the lowest minimum as it's rarely used. Happy that NFCU pulls TU as that's where I have 29 months of $1,000 rent payments posted. 

Open LOC:
Paid-off Installment Loans:
2018:
2019:

IN THE GARDEN UNTIL DECEMBER 17, 2019!!
Message 33 of 37
Senior Contributor

Re: NFCU Membership... APPROVED!!!!

Congrats on Your NFCU Membership!

Message 34 of 37
Super Contributor

Re: NFCU Membership... APPROVED!!!!


@513credit wrote:

@Saeren wrote:

DTI is your debt obligation (current credit card minimum payments + installment loan amounts) plus housing costs divided by monthly gross income. 

 

From your numbers, it looks like your DTI is more than fine. 


Excellent, thanks for clearing that up. Going off that, my Capital One isn't more than $25-$35/mo minimum payment and the Discover always the lowest minimum as it's rarely used. Happy that NFCU pulls TU as that's where I have 29 months of $1,000 rent payments posted. 


Rent has to be added when calculating DTI so your base calculation would be 25+35+1000/3200 = 33.13% DTI


01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Does it look like I really need any more cards? My goal is to garden until 2/2020.
Message 35 of 37
Regular Contributor

Re: NFCU Membership... APPROVED!!!!

Congrats 513!
Message 36 of 37
Frequent Contributor

Re: NFCU Membership... APPROVED!!!!


@TylerDurden17 wrote:
Congrats 513!

Thanks buddy! Discover just might unsecure me and possibly up my limit, I was able to get my Cap1 and PPMC under 15% utl for this month. If all goes well this month, I can apply for credit next month! 

Open LOC:
Paid-off Installment Loans:
2018:
2019:

IN THE GARDEN UNTIL DECEMBER 17, 2019!!
Message 37 of 37
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