@Anonymous wrote:
@Anonymous wrote:Ok so I made the call to Barclay. It was denied because my daughter whom I co-signed had some late payments 30 days ago.
I'm not trying to be negative but as a cosigner that car loan belongs to you and you are responsible for the payments being made on time. That 30 day late being recent IS a problem.
I would suggest you take over the car payments and that way if your daughter can't pay, you can keep it paid in a timely manner.
I strongly disagree with that statement. Your daughter is old enough to learn responsibility and she'll never learn if you keep treating her like a child. I would let her know that her late payments negatively effected you as her co-signer and just reiterate how important it is that she pay her bills on time not just because they affect you, but because that's what it means to be an adult. Since she paid late, I'd sit down with her and maybe draw up a budget so that she knows exactly where her money goes each month, and if she's overextended herself, then maybe you can intervene temporarily. While her being late negatively effected you, it can be a great life lesson for her.
As to Barclay, I would do a second recon and maybe another CSR agent would be a bit more understanding.
I would strongly suggest a second (and third if necessary) recon with Barclay. Another member recon his/her Barclay denial and got a 3K SL. You took the hard pull, and have a really good reason for the late, so I'd plead my case if I were you.
Good luck if you do and keep us posted!
@Anonymous wrote:Ok so I made the call to Barclay. It was denied because my daughter whom I co-signed had some late payments 30 days ago. She told me to reapply in 6 months as this was the only thing. However, when Capital One called to verify it was me because of the Fraud alert she said she went ahead and sent it for further processing and while I was asking her questions, she told me she had sent it in and it was approved for up to $3000.00. I would have to wait for the letter that comes with the card to find the actual amount! WooHoo! Now I need to continue reading so that I can learn how to build my credit up in the 700's to get a mortgage to build a home. Thank you everyone for your help!
Well now that you're on your way, your keys are:
1. Make sure your daughter's payments are on time
2. Use the Cap One card but pay it down to zero, possibly multiple times a month
3. In 3 or 6 months see where your scores are and apply for a second credit card
@Anonymous wrote:Ok so I made the call to Barclay. It was denied because my daughter whom I co-signed had some late payments 30 days ago. She told me to reapply in 6 months as this was the only thing. However, when Capital One called to verify it was me because of the Fraud alert she said she went ahead and sent it for further processing and while I was asking her questions, she told me she had sent it in and it was approved for up to $3000.00. I would have to wait for the letter that comes with the card to find the actual amount! WooHoo! Now I need to continue reading so that I can learn how to build my credit up in the 700's to get a mortgage to build a home. Thank you everyone for your help!
Congrats on your approval!! Use that card well and you should see your scores rise over time.
