Impact of Spending Cash/Debit vs Credit Card on Debt to Income Ratio
Since debt-to-income ratio (dti) is an important factor in determining one's creditworthiness especially for mortgage rates, it is clear that one should keep the monthly recurring debt and credit card...
View ArticleAnswer by RonJohn for Impact of Spending Cash/Debit vs Credit Card on Debt to...
If you're thinking of buying a home, don't use your rent in the calculation. Use the expected mortgage payment (plus PMI, insurance and taxes).Also, while the $2000 is a debt, the bank only looks at...
View ArticleAnswer by mootmoot for Impact of Spending Cash/Debit vs Credit Card on Debt...
What happens if:a) I spend that $2000 with my credit cards and pay my cards in full vsb) I spend that $2000 with my debit card/cash?Rationally, they are the same, and some credit card like cashback...
View ArticleAnswer by dwizum for Impact of Spending Cash/Debit vs Credit Card on Debt to...
This question is hard to answer because it depends on the mechanics of the credit reporting process, and the timing of that $2,000 hitting the credit card throughout the month. It's important to...
View ArticleAnswer by TTT for Impact of Spending Cash/Debit vs Credit Card on Debt to...
Your question is based on a faulty assumption:Since debt-to-income ratio (dti) is an important factor in determining one's creditworthiness especially for mortgage rates,...Debt-to-income ratio is not...
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