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Established Member
dangerdave
Posts: 18
Registered: ‎08-13-2010

Need help trying to build credit for my wife

I'm working on building credit for my wife at  the same time that I'm trying to rescue my own credit.  She has a decent FICO from EX (683) but what is hurting her is that she got all of her credit cards stolen 5 years ago and we canceled them and we just never needed to get her a credit card since.  So she has very little history.

 

Now that I'm in the process of rebuilding my credit, I'd like to get her credit in shape as well.  I thought I should start with a credit card and slowly build from that.  Does anyone have any suggestions on what card I should get her?

 

Thanks,

 

David


Starting Score: 554
Current Score: 647
Goal Score: 700


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Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: Need help trying to build credit for my wife

Are all of her accounts from before still reporting as positive TL?   Why not pick a favorite from she had?

 

Established Member
dangerdave
Posts: 18
Registered: ‎08-13-2010

Re: Need help trying to build credit for my wife

Wont they ask for a re-application?  Does that matter?  Yes.  She has two revolving TL's (had to look that up) that report positive but they are both back in 01 and 03.  Discover at 1k in 01 and citi at 300 in 03.

 

Thanks in advance.  This forum is great.  Glad I found you.


Starting Score: 554
Current Score: 647
Goal Score: 700


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bakalao2k
Posts: 448
Registered: ‎02-21-2009

Re: Need help trying to build credit for my wife

Did your wife have an AMEX card?  If she is able to get a new account, then it will be back dated with the original member since date.

TU - 737 - 02/21/09, 769 - 02/06/10, 795 - 09/08/10
EQ - 758 - 02/21/09, 783 - 02/06/10, 805 - 09/08/10
EX (PLUS) - 781 03/23/09, 787 - 02/06/10, 783 - 08/09/10
Frequent Contributor
JagerBombs89
Posts: 403
Registered: ‎09-13-2009

Re: Need help trying to build credit for my wife

 


bakalao2k wrote:

Did your wife have an AMEX card?  If she is able to get a new account, then it will be back dated with the original member since date.


This is the main reason I want to get an AmEx :smileyhappy:

 

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Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: Need help trying to build credit for my wife

Yes, I'm afraid that AmEx is probably the only one that would show a card with the original year. And even then, she'd have to apply again.

 

It's very, very rare that a bank will re-open a closed account, with the original date and history. Maybe sometimes in a case of buyer's remorse, if you call back within days or something, but they generally make you start from scratch.

 

If she's having problems getting started because of no current history, she might look into a local credit union. Another option is a secured card. There are always several threads floating around about who has decent secured cards.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: Need help trying to build credit for my wife

 


dangerdave wrote:

Wont they ask for a re-application?  Does that matter?  Yes.  She has two revolving TL's (had to look that up) that report positive but they are both back in 01 and 03.  Discover at 1k in 01 and citi at 300 in 03.

 

Thanks in advance.  This forum is great.  Glad I found you.


 

Yes she will have to re-apply, but she has positive history already with these 2.   Citi and Discover are good choices to start.  

 

You could also start with who ever holds her checking or savings if they have CC.

 

Since there are no negatives on the report, she should not have much trouble.

 

 

Established Member
dangerdave
Posts: 18
Registered: ‎08-13-2010

Re: Need help trying to build credit for my wife

Thanks again for the info.  No unfortunatly she did not have an Amex card.  Do you really think I should start with a secured card?  She has a decent score of 683 Ex.  I dont want to waste a gard pull just to get denied but I'd like to get her a revolving card...  Thoughts?

 

Thanks again.

 

David


Starting Score: 554
Current Score: 647
Goal Score: 700


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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: Need help trying to build credit for my wife

I probably overstated it on that one. The question will be whether any of her former banks will acknowledge that she was a good customer in the past and start her up again. They like to deny for not already having credit, but her situation is a bit different, and I hope that that will make a difference.

 

I'm going to defer to others on this one. I hope I wasn't unnecessarily pessimistic! :smileytongue:

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Established Member
dangerdave
Posts: 18
Registered: ‎08-13-2010

Re: Need help trying to build credit for my wife

No problem.  I'm trying to be conservative as well.  I'm sure I'll have other questions in the coming months.  This is such a great resource.

 

Thanks again,  David


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Current Score: 647
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