Reply
Established Member
Posts: 18
Registered: ‎08-13-2010
0

Re: Need help trying to build credit for my wife

I did the online application and they had to verify some information and when they did talk to her they approved her for 4500 and added me as an AU so it should help me as well.  When she was talking to them she asked if they could lower her APR and they told her that a supervisor would have to do that and there wasn't one around so she is at 19% for now after the intro rate expires.

 

Any ideas on how to get that lower?

 

Thanks,

 

David


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


Take the FICO Fitness Challenge
Contributor
Posts: 96
Registered: ‎02-01-2009
0

Re: Need help trying to build credit for my wife

Nice Job Dangerdave!

 

$4,500 is nothing to scoff at!!!  Assuming you PIF at the end of each month, the APR really doesn't matter.  Keep utilization low and pay it off every month and it will do wonders for both you and your wife.

 

Who did she get that with (don't see the company)  Citi? 


2/2/09 (Newbie): EQ: 636 -- EX: 609 -- TU: 635
8/9/10 (Current): EQ: 724 -- EX: 728 (FAKO) -- TU: 717
Established Member
Posts: 18
Registered: ‎08-13-2010
0

Re: Need help trying to build credit for my wife

No scoffing here.  I was just a little surprised that they would give a CL like that.  I'm really glad.  Sory I didnt mention the CC.  It was Discover.  We tried to get it linked to her old acct from 01 but they wouldnt do it.

 

So you are saying the APR is no big deal.  Just trying to learn.  I figured that lenders might see that and see her as a bigger risk with that APR...

 

David


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


Take the FICO Fitness Challenge
Established Contributor
Posts: 620
Registered: ‎05-09-2009
0

Re: Need help trying to build credit for my wife

No, lenders won't see her as a bigger risk with that APR.  That APR isn't listed on the credit reports.  That is only between Discover and her/you.  The only time it could show as a bigger risk, is if its close to, or maxed out.  That's why you should try to pay in full, or keep utilization below 10% before the statement cycles each month, so it shows a low balance when its reported monthly.

 

If you don't know the cycle date on the account, call Discover and ask them.  Pay your balance in full, or keep it less than 450$.

 

I hope i made sense, lol

Current Score: EQ: 807 TU: 811 EX: 813 (Fico) 8/14
Goal Scores: 760 Across all 3-Finally


Citi TY Premier 46.5k| Discover 15.6k|BOA WMC 30.5k|Barclays Juniper Rewards 15k|Barclays Amex 20k| CapOne 15K|Chase Freedom VS 19.3k|Citi Dividend WMC 25k|FNBO 15.5k|CSP 22.1K|Chase Marriott 31.3k|Citi TYP 20K|Citi DP 16.5k|Macys 5k|Sams MasterCard 15k|Barclay Arrival Plus WEMC 18.7k|Chase IHG WMC 26k|Citi Double Cash 10k|Chase MileagePlus Explorer 14k|Amex Everyday 16.2k
Established Member
Posts: 18
Registered: ‎08-13-2010
0

Re: Need help trying to build credit for my wife

Perfect sense.  Thanks for the information.  I'm sure I'll have some more difficult questions later :smileyhappy:

 

Thanks again


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


Take the FICO Fitness Challenge
Established Member
Posts: 18
Registered: ‎08-13-2010
0

Re: Need help trying to build credit for my wife

Now that she has a discover card.  It's the only card she has.  I'm itching to have her apply for another but I don't want to look like I'm trying to build her credit to quickly (which I am, sorta)  No need,  just impatient.  How long should I wait for her to apply for another card?  I have no immediate need for credit,  just trying to do the right thing.

 

Oh another thing.  Once I get my 3 credit cards straight should I add her as an AU for the AAOA.  I've had my cards since 03, 04 and 05.  Will it help her AAoA as well?

 

Thanks again...

 

David


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


Take the FICO Fitness Challenge
Moderator
Posts: 15,723
Registered: ‎07-14-2009
0

Re: Need help trying to build credit for my wife

 


dangerdave wrote:

Now that she has a discover card.  It's the only card she has.  I'm itching to have her apply for another but I don't want to look like I'm trying to build her credit to quickly (which I am, sorta)  No need,  just impatient.  How long should I wait for her to apply for another card?  I have no immediate need for credit,  just trying to do the right thing.

 

Oh another thing.  Once I get my 3 credit cards straight should I add her as an AU for the AAOA.  I've had my cards since 03, 04 and 05.  Will it help her AAoA as well?

 

Thanks again...

 

David


 

She will inherit the entire history of these accounts. Just make sure the utilization stays very low and the payment history is clean. Keep in mind that if these accounts start to go south it will affect her credit as well.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work


Established Member
Posts: 18
Registered: ‎08-13-2010
0

Re: Need help trying to build credit for my wife

Thanks Marine for the answer to the AAoA question.  I do appreciate it.

 

Does anybody want to give me some advice on the first part...  I could use it...

 

Now that she has a discover card.  It's the only card she has.  I'm itching to have her apply for another but I don't want to look like I'm trying to build her credit to quickly (which I am, sorta)  No need,  just impatient.  How long should I wait for her to apply for another card?  I have no immediate need for credit,  just trying to do the right thing.

 

Thanks...


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


Take the FICO Fitness Challenge
Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
0

Re: Need help trying to build credit for my wife

Is she going for CITI next?    I would do it now since she has positive history with them.   Just an opinion.

Epic Contributor
Posts: 23,815
Registered: ‎10-23-2007
0

Re: Need help trying to build credit for my wife

I would go ahead and pick 3 banks and apply now all at once. if you have discover, consider Citi and maybe an american express charge card like Zync

Fico Scores: EQ- 662., TU 684 Barclay, EX 700 (3/21/15)

You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
72 Cards and Counting :smileytongue:
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.

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.