Is DTI 41% too high to apply for loan (Received pre-approvals from several lenders)?

[devilnic]

I used State Deparment Federal credit union. Very easy peasy, They paid them for me, didn't even take 7 days.

[cambia46]

Thanks, I'm currenlty looking some credit unions.  I used to be with Pentagon Credit Union, so I think I'm going to try them in addition to NFCU.

[Anonymous]

I would avoid getting the loan from upgrade, it will probably be considered a consumer finance account, which, while it is a only minor negative, will stay on your reports for up to 10 years after it is paid off.  If you only need $4k a credit card might be the way to go, especially since this will help build your credit for the long term since your profile is lacking quality revolvers, maybe you should check your rate and limit on NASA FCU with a soft pull?  

https://www.nasafcu.com/personal/credit-cards

You could also check your rate and limit on First National Bank of Omaha as well with a soft pull.  They are currently offering 0% on purchases for 12 months on their 2% cash back rewards card.

https://www.fnbo.com/personal-banking/credit-cards/

[cambia46]

Thank you for the response and great advice. It's as of you were reading my mind. I actually did go ahead and try a loan with Prosper and was denied because they couldn't verify something due to my fraud alert. Actually, they said the app was CANCELLED and that the TU inquiry would be deleted (we'll see how true that is). But, that got me to thinking in the same direction as you, so I accepted a CC offer for with Chase, $5000 CL.   Now I'm just trying to determine if it's beneficial or wise to try to get 1 more CC while the getting is good, before my scores start to  fluctuate. Any thoughts would be greatly appreciated. 

[Brian_Earl_Spilner]

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@cambia46 wrote:

Thank you for the response and great advice. It's as of you were reading my mind. I actually did go ahead and try a loan with Prosper and was denied because they couldn't verify something due to my fraud alert. Actually, they said the app was CANCELLED and that the TU inquiry would be deleted (we'll see how true that is). But, that got me to thinking in the same direction as you, so I accepted a CC offer for with Chase, $5000 CL.   Now I'm just trying to determine if it's beneficial or wise to try to get 1 more CC while the getting is good, before my scores start to  fluctuate. Any thoughts would be greatly appreciated. 

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Chase doesn't like to be apped for in tandem with other cards. They will start SPing you in a few weeks to see if there are any significant (to them) changes. A second card could result in the chase card being closed. Also, be careful with them in regards to BT. They are not one to carry a balance with for an extended period of time. 

[Anonymous]

If you can get approved it could be good for your credit score as it would help to keep your revolving utlization low if you had some more available credit.  I would check your rate and limit with a soft pull through FNBO on the Evergreen Rewards Visa, 0% for 12 months on balance transfers and purchases and unlimited 2% cash back on every purchase with no annual fee.  If approved you could potentially charge the $4k to the new Chase Sapphire Preferred to collect the 100k bonus points SUB that is worth $1250 in travel rewards and then pay $200 (i.e. 5% fee) to balance transfer to the FNBO and payoff the $4k over 12 months at 0% interest.  Depending on how long it will take you to payoff the balance it could be worthwhile to go that route versus just paying the high rate of interest on the Chase card.  

https://www.fnbo.com/personal-banking/credit-cards/