Does credit card debt affect apartment eligiblity? (apartments, tenant, landlords)
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I only have one type of debt - which is credit card debt. I have about $800 worth of debt out of $2300 credit line.
I have not missed a single payment, and have NO negative marks on my credit report.
Would the $800 worth of debt harm my chances of qualifying for an apartment?
In your scenario, no.
Your income, credit score and revolving debt (which you said you have none) are what they will look at. Such a small amount with no missed payments will not be an issue. Rest easy.
I don't see how - the property manager will see it on your credit report, but it will also show a minimum payment (probably $20-$30?), unless you're really barely capable of covering the rent, it shouldnt make a difference.
I think landlords can only look at credit reports and criminal background reports and income verification. How much cc debt you are carrying doesn't affect anything other than your credit score if you are not making payments on that cc debt.
I think landlords can only look at credit reports and criminal background reports and income verification.
Not quite. LL's can check any resource they're able and willing to take advantage of.
The ones mentioned here are just the most commonly used (for various reasons).
Quote:
How much cc debt you are carrying doesn't affect anything other than your credit score if you are not making payments on that cc debt.
Again... not quite. LL's are looking for what your payment obligations (debt and other) total.
Having a CC balance in itself is par but if the total of these and any other payments is especially high
you'll be denied when your net,net income is too low relative to the rent and utility costs.
The last thing a LL wants is a tenant who is struggling to afford to stay there.
I only have one type of debt - which is credit card debt. I have about $800 worth of debt out of $2300 credit line.
I have not missed a single payment, and have NO negative marks on my credit report.
Would the $800 worth of debt harm my chances of qualifying for an apartment?
I have over 50k worth of student loan debt and I haven't had trouble getting an apt(never been denied(5 apartments and 3 credit checks). Nope you won't have trouble
Last edited by jdm2008; 07-10-2012 at 06:47 PM..
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