Edit

Forums ›
Finance

MikeR397's AOR 2.0 - Stage 3 of 4 Complete - Over $400k thus far Archived From: Finance

  • tweet this
  • Post to Facebook
  • Text Only
  • Search this Topic »
  • Classic
alert mods    
   posted: Oct. 30, 2008 @ 8:06p

MikeR397 said:
Let me see if I understand you correctly - US Bank wanted verification because your debt was LESS than 25% of HHI during your application?Yes. I even argued with them for awhile. They admitted that lower debt is better, (my ratio was 1% or so of total utilization), but said thier policy was that if total debt (I assume this includes installment, not just revolving?) to credit ratio was less than 25%, they needed proof of income.

This is actually a fascinating data point Mike.
I have always known that Lenders use internal formulas to calculate approx income- but never considered total debt (which seems counterintuitive)

Thanks for the update.


alert mods    
   posted: Oct. 31, 2008 @ 12:27p

Mom got approved for the WAMU ESPN card for $15,000, and she should be able to consolidate her old ESPN with $5,650 for a $20,650CL. I asked for a $20,000 BT on the application page to be mailed to her checking account. Pretty surprised with such good numbers, as I almost didn't even bother applying, but this was her last app. Not bad for 6 months with no BT fee.


alert mods    
   posted: Oct. 31, 2008 @ 12:30p

Does anyone know who the credit issuer is on Compass Bank credit cards? Link to App


alert mods    
   posted: Oct. 31, 2008 @ 6:57p

MikeR397 said:Mom got approved for the WAMU ESPN card for $15,000, and she should be able to consolidate her old ESPN with $5,650 for a $20,650CL.
I didn't think that WaMu did reallocation....


alert mods    
   posted: Nov. 1, 2008 @ 12:00p

MikeR397 said:Does anyone know who the credit issuer is on Compass Bank credit cards? Link to App
My guess would be, themselves. Except for the "CompassInspire" card, which looks like HSBC.

Compass does not have a nationwide footprint, so I'd recommend checking to see if you're in their area if there aren't branches around you.


alert mods    
   posted: Nov. 20, 2008 @ 11:30a

Update: Mom o Rama is done. May try to get Bank Atlantic to reconsider still. Total New Mom O Rama Credit available for 0% BT: $146,500. Not bad, but this is less than 1/2 what she got last year. Credit crunch sucks.


alert mods    
   posted: Nov. 22, 2008 @ 1:58a

Just for the record: I answered your Compass Bank question in the CC Issuer FAQ thread. Briefly: may or may not be worth an inquiry, though safest approach is to get a bank account their first.


alert mods    
   posted: Dec. 7, 2008 @ 3:59p

Bump.

Planning to do a micro business AOR with a Cash Back personal card or two for Dad. I've updated the top part of the OP.

Would appreciate links to any business cards you think I might be interested in. Only 0% capped offers please. Thanks!


alert mods    
   posted: Dec. 7, 2008 @ 5:23p

Let's get Mikey to try it !


Life Cereal

 

Oh to be young and fearless


alert mods    
   posted: Dec. 7, 2008 @ 6:52p

LaJollaInvestor said:Let's get Mikey to try it !

Life Cereal

Oh to be young and fearless First, I have to admit that I blindly clicked your link expecting to go to a credit card. I've been reading law books too long. Second, I think its "young and restless" may also work in my case. Opportunity cost bothers me.


alert mods    
   posted: Dec. 7, 2008 @ 8:58p

Associated Bank gave me 10,000 instant

Disney Chase Card = 30 day non-instant

Was going to apply for a BofA card but decided against it. 15 months @ 0% is nice though.


alert mods    
   posted: Dec. 7, 2008 @ 9:16p

Thanks, but for Dad I am only doing Business cards and solid Cash Back credit cards (which won't carry a balance) beacuse he doesn't want balances reporting on his personal credit report so as to be agile to take advantage of opportunities which might present themselves in this credit envirornment.


alert mods    
   posted: Dec. 7, 2008 @ 10:50p

do u really have a business or are u just making one up?

thanks for the write up that was really helpful.


alert mods    
   posted: Dec. 7, 2008 @ 11:35p

Mishkin said:do u really have a business or are u just making one up?

thanks for the write up that was really helpful.

First, read this tread. . A sole prop is not made up. That said, my dad has a sole prop with respect to his condo rentals with substantial revenue.


alert mods    
   posted: Dec. 8, 2008 @ 2:31p

whopps double post.


alert mods    
   posted: Dec. 8, 2008 @ 2:32p

Update:

Bank of America World Card Mastercard - 10,700.00 Limit - INSTANT APPROVAL


 Close

Sign Me In
Nickname: 
Password: 
Remember My Login Information:

Forget your login information?

Not Already A Member?
Sign Up Now!


Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.


While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2009