You should add him as an AU to one of your cards if possible... that will also give him a boost. Ideally he would have 2 major bank issued credit cards reporting.
FICO 9: 
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
@cwwatts1202 wrote:
I am trying to build my husbands score, he's at a 612 FICO, up from 511 march 3Rd. He got approved for fingerhut fresh start $230 XL $30 deposit, and capital one secured $99 deposit. he needs a 640 to qualify for the home loan we want to get, with these two accounts will that be enough to take his score to where it needs to be? We plan to apply for the home loan in November if his score is where it should be. I'm worried about how these two new accounts are going to hurt his AAoA and score initially. Will his score bounce back plus some if we keep both of these accounts at around 5% util over the next 6 months? Should we garden these two, or try to get an unsecured card after a few months of these reporting? Thanks in advance!!!
IMO I would make a large deposit on that Cap1 secured card and get 1 more secured card then Garden. BofA has a decent deal for one. I dont wanna say go for a Cap1 unsecured cause that is 3 HP's for 1 card.
Have you checked into the local CU thing??
@cwwatts1202 wrote:
We are members of a CU, their secured requires a $250 minimum deposit, was hoping to get him the unsecured, we have two collections to pay off his report, plus saving for the house, the purse strings are tight right now so we don't want to be paying a lot in deposits for secured cards, which is why I applied for the fingerhut, I knew it'd be $30 deposit, which actually goes towards the first purchase, or no deposit.
Credit One might be a good look too. Fees suck but there is your 2nd Bankcard you need.