A new way to fund the jeep addiction
01-16-2015, 10:19 AM
#41
I found out the hard way credit score is everything.
Using credit whether it be cards, auto loans or even the lowly gas card is required if you ever plan to buy a house.
I've always paid my bills on time, saved my money and stayed out of debt. When my wife and I applied for a home loan she was instantly approved and I was denied.
Never mind my 10 years with the same company, good savings, clean bank history and healthy 401K.
At the time she was an unemployed student in grad school with half a dozen credit cards!
We did end up getting the house but not without penalty. I was basically forced to buy a new car (my 1st JK!) and transfer all my bills to auto pay on a credit card.
Sad but true, Credit rating is all that really matters to lenders these days.
We've merged our cards and rack up air miles with all our monthly bills now. It adds up fast. We take a free flight to just about anywhere we want once a year.
Using credit whether it be cards, auto loans or even the lowly gas card is required if you ever plan to buy a house.
I've always paid my bills on time, saved my money and stayed out of debt. When my wife and I applied for a home loan she was instantly approved and I was denied.
Never mind my 10 years with the same company, good savings, clean bank history and healthy 401K.
At the time she was an unemployed student in grad school with half a dozen credit cards!
We did end up getting the house but not without penalty. I was basically forced to buy a new car (my 1st JK!) and transfer all my bills to auto pay on a credit card.
Sad but true, Credit rating is all that really matters to lenders these days.
We've merged our cards and rack up air miles with all our monthly bills now. It adds up fast. We take a free flight to just about anywhere we want once a year.
