Application for Marv

[akeate]

Credit Application:

 

Your Age? 31

 

Your Equifax Credit Score? 716

Your Experian Credit Score? Good Question

Your TransUnion Credit Score? 712

 

How many years have you been on file with Equifax? 12

How many years have you been on file with Experian? 12

How many years have you been on file with TransUnion? 12

 

YOUR PREVIOUS AUTOMOTIVE CREDIT HISTORY

 

Do you have an open auto loan? Yes

Will this open auto loan be a trade-in? No; I will be selling this vehicle to a private party.

How many late pays within the last 12 months on the currently open loan? 0

How many late pays within the last 13-24 months on the currently open loan? 0

Your current open auto loan is financed with? Deseret First Credit Union

Your current open auto loan payment is? 550

Estimated amount you may be upside down in this vehicle? 0

Rate your payment history on this open auto loan from 1-10 (1=poor:10=Best) 10

 

 

YOUR REVOLVING CREDIT HISTORY

 

Total number of revolving account(s) you have? 15

Total percentage utilized overall? 75%; The cards have high utilization but most of the charges are for my business account and PIF monthly.

How many of your revolving accounts are store cards? 5

How many of your revolving accounts are major credit cards? (i.e. Amex, MC, Visa) 10

How many of your revolving accounts are known subprime credit cards (i.e. Aspire, 1st Premier) 10

 

YOUR PERSONAL INFORMATION

 

How long at your current residence? 2 Years

Do you Rent or have a Mortgage, or Live w/Relative or Other? Mortgage

Your Monthly Rent or Mortgage payment? 2,000

How long have you held your current job? 6 months

Your total provable monthly gross income is? 2k

Your provable monthly gross income is provable via what method? (i.e. computerized paycheck stub, or tax return, or bank statements) Stub

Is there additional monthly income? What amount monthly?

Describe the source.

Is the additional monthly income provable?

Spousal income is not applicable.

 

YOUR DOWNPAYMENT

Please tell me your exact down payment in cash? 2k

Does any credit repository contain any Public Record? No

If yes, please very briefly describe.

 

Does any credit repository contain any Collection Account(s)? No

If yes, please very briefly describe.

 

Please rate your overall creditworthiness on a scale of 1-10 (1=poor, 10= best) 10

Please rate your Installment credit history on a scale of 1-10 (1=poor, 10=best) 10

Please rate your Revolving credit history on a scale of 1-10 (1=poor, 10=best) 10

 

New or Used vehicle you are considering: Please very briefly describe.

2007 Chevy Tahoe LTZ with less than 50k miles

 

I am concerned about the utilization. My husband owns his own business and all of the expenses are run through our cards on a monthly basis and the utilization looks sky high.....

[MarvBear]

Declined. DTI > 100%.

[akeate]

I guess this is where I rant but this is the problem with credit, "provable" income, and everything else. While I may not qualify for an individual car loan on my own based on something as dumb as a DTI, somehow my husband (this is his account at creditboards) has just been approved for a $750k line of credit to purchase vehicles through a local dealership. It's insane...... Somehow I manage to pay off $50k in credit card charges EVERY MONTH, make a $2,000 mortgage, find myself in the 36% tax bracket (with DH), and yet I can't finance a used car by myself? Not to mention that I have never been late on a bill in my life and have a $1.3M SBA loan.......

 

The system sucks. It's broken...... and it's just dumb.

[akeate]

Marv, in my rant I forgot to thank you for your time.....

[MarvBear]

Your Monthly Rent or Mortgage payment? 2,000

 

Your total provable monthly gross income is? 2k

 

I actually stopped reading the application after reading the above. From a lender's perspective you simply cannot afford a car note, based on the way you completed the credit application.

 

*all application information tendered may be subject to verification upon request* (per lender)