I want to get a 39000$ personal loan from wells fargo and was wondering what are my chances of approval. My scores are EQ. 602 Trans. 631 EX. 604 I have 23 inquires on my Equifax, 16 inquries on my Experian, and 10 inquires on my Transunion. I have one collection account for $277. My credit history is 2 years and my AAOA is 11 months.
Starting Score: 494 503 521
@Anonymous wrote:What is your income and current debt-to-income ratio? Do you have an existing relationship with them already or any do you have any assets to put down as collateral? They are pretty conservative. Even with the limited information you provided, I would be highly doubtful WF would approve you for an amount that large if at all. They consider credit scores of 620 and below as 'poor'.
My income is 49000 a year I have a secured card with them since June 2016 and I don't have any assests to put down. My dti is 15%.
@DeeBee78 wrote:
@simplegirl wrote:
@Anonymous wrote:What is your income and current debt-to-income ratio? Do you have an existing relationship with them already or any do you have any assets to put down as collateral? They are pretty conservative. Even with the limited information you provided, I would be highly doubtful WF would approve you for an amount that large if at all. They consider credit scores of 620 and below as 'poor'.
My income is 49000 a year I have a secured card with them since June 2016 and I don't have any assests to put down. My dti is 15%.
Extremely doubtful. They are very conservative, and your scores are extremely low for a personal loan - and that's for any lender.
Your best bet at getting a loan is through Lending Club, Sofi, Avant, etc. but you won't get $40,000.
where should my scores be?