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(cross posted in Consumer Credit / Credit Cards)

OK I applied at 3 banks locally here and they all called back the next day. One was a credit union (accepted) and the 2 others were banks (1 up 1 down).

$10,000 loan for a used Ford Explorer (2001-2003) paying $5000 upfront, using the loan to pay for the rest. 24 or 36 month term.

Why would one accept and one deny?


I have a late payment from August 2004 on my report.

My income has increased significantly since last year.

I haven't applied at my own bank, but they denied me last February.

About 3 - 3.5 years ago, I had some trouble and had some 60 and 90 day late pays.

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