Reply
Frequent Contributor
Posts: 261
Registered: ‎10-05-2013
0

Re: Co-signer when credit file is THIN

My scores are so low due to a thin file and the COs causing my utilization to look high- my CCs are PIF or under 10% but when you add the outstanding $$ on the COs my utilization is higher than my CLs.

 

I have more than 20% to put down but I do not see that as enough to make up for the low scores,.

Community Leader
Super Contributor
Posts: 6,491
Registered: ‎03-06-2010
0

Re: Co-signer when credit file is THIN

Thin files don't cause low scores. Really they don't.

 

However, you are right that the CO balances contribute to the utilization on your cc's.

 

Have you tried PFD's yet? Or are you just going to let them drop off?

 

A big down payment does help you. Talk with another CU. Before they pull your credit have the conversation so you don't end up with more pulls and more turndowns. Ask them straight out what percent of down payment works with scores in the X range.

Highlighted
Frequent Contributor
Posts: 261
Registered: ‎10-05-2013
0

Re: Co-signer when credit file is THIN

Thank you.

 

I am doubtful on the PFDs- it is Cap One and FPB. As I have seen it on these boards- neither are wiling to entertain PFDs...

 

 

Valued Contributor
Posts: 1,288
Registered: ‎02-12-2014
0

Re: Co-signer when credit file is THIN

Honestly if they're going to drop off in a year, don't stress about paying them. Why do you want to "waste" money? Your score will probably go to the 700s as soon as the baddies drop off anyways and it doesn't seem like you DESPERATELY need the car...Just keep up with making sure you pay the CC's you do have on time!

As I am very busy with work these days, I am participating in the forums less than I would like to. Please feel free to email me directly remembermyfico //at// gmail /dot/ com if you would like me to respond to a specific question you have.
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.