Does anyone know the minimum required credit score for a BMW lease transfer? I have someone who is interested but equifax says their score is 685. Do you guys think they will get approved?
Exactly my thoughts. Love my saphire reserve. Missed the boat on 100k signup since I hadnāt graduated by then but since Iāve had it, Iāve netted positive in $100+ each year even after AF. Use all UR points for travel so get 1.5x value. Sad to see the fee go up with crappy DD and Lyft benefits. Will be cancelling/downgrading as well.
Hello Hackers,
Need some info, i have a friend who has just come into the country (less than couple of months). He has a job offer and currently working. He is around 40yrs, no driving history in the US and no credit history in the US. Is there any possibility for him to lease? Or should i just suggest him to go for a used car? He got a car loan pre-approved for 20K from one of the credit union.
He is looking for the least expensive option (sedan). No co-signer available.
Any thoughts/inputs appreciated.
Digital Credit Union was always a great option for many of my past H1 customers, etc. They had more than fair rates and represented a great option to establish auto credit. Also, with BMW, if your friend has a proper offer of employment letter, paystubs, and company letter head stating intended term of employment along with 3 years or close to it remaining on a visa, he may have a shot.
Probably I agree with you, he had got the loan amount pre-approved by DCU. They have been really helpful to establish auto credit.
@kamal search the forum for related search terms such as expat, visitor, H1B visa etc and youāll find some threads with useful info
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https://www.wsj.com/articles/fico-changes-could-lower-your-credit-score-11579780800
Fair Isaac Corp., creator of FICO scores, will soon start scoring consumers with rising debt levels and those who fall behind on loan payments more harshly. It will also flag certain consumers who sign up for personal loans, a category of unsecured debt that has surged in recent years
The changes will create a bigger gap between consumers deemed to be good and bad credit risks, the company says. Consumers with already-high FICO scores of about 680 or higher who continue to manage loans well will likely get a higher score than under previous FICO versions. Those with already-low scores below 600 who continue to miss payments or accumulate other black marks will experience bigger score declines than under previous models.
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Does the full story behind the paywall mention which industry is driving the development of this new score model?
Also LOL calling 680 a āhigh FICO score.ā
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You donāt have WSJ subscription? Shame on you, it negates your 7-series and drops your social status by 50 points.
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The WSJ reads me.
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I guess Iām subprime on social ladder than because Im not subscribing to any of the news papersš
I found that it is possible to read some articles behind paywalls via LinkedIn.
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Nah, you are fine. You donāt drive 7-series and donāt post on LH from Prague.
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He really is running the great long-con gimmick in Leasehackr history. He also says he lives in Ohio but the other week he said San Diego.
Can we get rid of this joker once and for all? Heās the answer to a question nobody asked.
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All 4 years of it?
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Incognito/Private mode with various browsers also works with many publications, but I donāt think it works for WSJ.
Hereās another article on the same topic.
As suspected the story is about new score models (FICO10 and FICO 10T), not adaptations to existing models.
The three credit bureaus have been lobbying hard to get the GSEs to accept their Vantage Scores for mortgages, and Vantage 4.0 introduced trended credit data. The new FICO 10T also uses trended credit data.
This may be a defensive move by Fair Isaac to prevent Vantage from making progress toward acceptance by the secondary mortgage market by eliminating one of Vantageās chief differentiators.
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Just like most minor trolls, they are best left ignored.
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Hey anyone know why Jaguar pulled my credit and a days later chase did as well (I know chase is the bank) shouldnāt their be some type of communication between them so they donāt need to pull twice?
Happened to me too during my last jag lease, I assume this happens because jag does not have their own bank
Dealer pull and lender pull. Completely normal.
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