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  2. MarvBear

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      https://nonprimetimes.com/cecl-where-are-we/
       
      There is no paywall.
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      No Paywall.
       
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    • By rileysoldier407
      Good afternoon all,
       
      I was hoping for some advice in regards to the most beneficial way to go about this.  I am offered a personal loan by AMEX with a 8% APR interest rate.  I currently have two other personal loans with a much higher interest rates which would be paid off by October of this year if I leave it as it is, or pay them off early through my tax refund.  I am looking at purchasing a new vehicle in May of this year and my utilization on my CC is right around 35%, if I take the AMEX loan, or my tax refund it would bump my UTI. to around 22% and would also actually help my DTI which is at 28% right now.  I know that Amex wont HP for the loan, so I would not add a Inquiry to my report ( I have 3 in the last 24 months across all three CRs). I am just wondering, curious how much it would negatively affect me with adding a new account/ lover my average age account that sits at 6yrs and 5months right now? I would think paying off two loans, bringing down my CC debt will give me a boost of my FICO score, right now around 710-720 across all three CRs auto enhanced.  Really just worried that seeking new credit four months before applying for a auto loan is a bad thing to do ? 
       
      Really would appreciate all input
    • By rileysoldier407
      your Age? 43
      Your Equifax Credit Score? FICO 8...718
      Your Experian Credit Score? FICO 8....713
      Your TransUnion Credit Score? FICO 8....715

      How many years have you been on file with Equifax? 18
      How many years have you been on file with Experian? 18
      How many years have you been on file with TransUnion? 18

      YOUR PREVIOUS AUTOMOTIVE CREDIT HISTORY

      Do you have an open auto loan? NO
      Will this open auto loan be a trade-in?  Yes ( Car is paid off, Blue Book is between 9k to 11k, hope to get maybe 4k???)
      How many late pays within the last 12 months on the currently open loan? ZERO
      How many late pays within the last 13-24 months on the currently open loan? zero
      Your current open auto loan is financed with? 
      Your current open auto loan payment is?  
      Estimated amount you may be upside down in this vehicle? N/A 
      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? 9
      Total percentage utilized overall? 38%
      How many of your revolving accounts are store cards? 1
      How many of your revolving accounts are major credit cards? (i.e. Amex, MC, Visa) 8
      How many of your revolving accounts are known subprime credit cards 0

      YOUR PERSONAL INFORMATION

      How long at your current residence? 3 years
      Do you Rent or have a Mortgage, or Live w/Relative or Other? RENT
      Your Monthly Rent or Mortgage payment? $950
      How long have you held your current job? 20 YEARS
      Your total provable monthly gross income is? 7270
      Your provable monthly gross income is provable via what method? (i.e. computerized paycheck stub, or tax return) Paystub
      Is there additional monthly income? What amount monthly? No
      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? (rebates and trade equity are not considered, please input a dollar value only.) 8000
      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) 9
      ONE 30 DAY LATE ON CC, ABOUT 3 YRS AGO.
       
      Looking to purchase 2019 Audi Q7, between 63k to 67K....never purchased this kind of expensive verihcle, previous loan financed was 28K..will that be an issue? I have two paid off Auto Loans on my CC report for 28k and for 22k.
       
      thanks MARV
       
      Looking to purchase 



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