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DaveSignal
Posts: 2,095
Registered: ‎07-29-2011
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Quickly get the credit you want!

1.  Marry a foreign national with no US credit.

 

2.  Add your spouse as authorized user to a few of your positive accounts.

 

3.  Open one joint account with a decent creditor.

 

4.  Have spouse do 10-day score watch trial and see 760+ FICO scores.

 

 

My wife is doing great!

 

EX:694 TU:744 EQ:701
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Senior Contributor
youngandcreditwrthy
Posts: 6,204
Registered: ‎08-16-2012
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Re: Quickly get the credit you want!

Lol that's cheating!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Community Leader
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DaveSignal
Posts: 2,095
Registered: ‎07-29-2011
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Re: Quickly get the credit you want!

Its perfectly legal.  And helps me greatly if I ever need a house or a hard-to-obtain credit card.  :smileywink:

EX:694 TU:744 EQ:701
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Moderator Emeritus
tinuviel
Posts: 4,877
Registered: ‎11-02-2010
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Re: Quickly get the credit you want!


DaveSignal wrote:

1.  Marry a foreign national with no US credit.

 

2.  Add your spouse as authorized user to a few of your positive accounts.

 

3.  Open one joint account with a decent creditor.

 

4.  Have spouse do 10-day score watch trial and see 760+ FICO scores.

 

 

My wife is doing great!

 


 

I'm very happy that your spouse has been able to attain an excellent FICO score quickly. But I'd like to remind everyone that building credit is more of a marathon than a sprint. On manual review, the AU cards may very well be ignored, and the joint account is still quite new. Credit history is exactly that -- history. In the end analysis, there is nothing that takes the place of good credit reporting over a long period of time.

 

That being said, I wish your wife well and hope that her scores continue to blossom as her history deepens with age.

 


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
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DaveSignal
Posts: 2,095
Registered: ‎07-29-2011
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Re: Quickly get the credit you want!

lol.  I agree her report is too thin to be approved for anything now, what with the one account that she has joint responsibility for.  She doesn't need good credit right now though.  And we don't need a house anytime in the near future.  This is really kind of a future planning... I only put the title I did on this thread to catch people's attention.  I did have fun building her credit though and was impressed when I saw a great FICO based solely on my own history minus the negative stuff.

EX:694 TU:744 EQ:701
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Moderator Emeritus
tinuviel
Posts: 4,877
Registered: ‎11-02-2010
0

Re: Quickly get the credit you want!


DaveSignal wrote:

lol.  I agree her report is too thin to be approved for anything now, what with the one account that she has joint responsibility for.  She doesn't need good credit right now though.  And we don't need a house anytime in the near future.  This is really kind of a future planning... I only put the title I did on this thread to catch people's attention.  I did have fun building her credit though and was impressed when I saw a great FICO based solely on my own history minus the negative stuff.


 

Future planning is a very good thing! :smileyhappy:

 


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Community Leader
Valued Contributor
DaveSignal
Posts: 2,095
Registered: ‎07-29-2011
0

Re: Quickly get the credit you want!


tinuviel wrote:

DaveSignal wrote:

lol.  I agree her report is too thin to be approved for anything now, what with the one account that she has joint responsibility for.  She doesn't need good credit right now though.  And we don't need a house anytime in the near future.  This is really kind of a future planning... I only put the title I did on this thread to catch people's attention.  I did have fun building her credit though and was impressed when I saw a great FICO based solely on my own history minus the negative stuff.


 

Future planning is a very good thing! :smileyhappy:

 


Yes it is.  By the time we might really need it, we will both have great credit scores and will qualify for the best loans and interest rates life has to offer.  I anticipate to catch up with and possibly outdo my wife by about 2015.  These accounts allow her to have something right now though if employers or landlords want to check her credit.  She acquired her social security number 2 years ago and I have been trying to get her credit reports and sign her up for a SW trial for the last year, but nobody has been able to verify her identity until recently... so it did actually take time even to get to this point.  Its a lot easier than rebuilding though!

EX:694 TU:744 EQ:701
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Senior Contributor
youngandcreditwrthy
Posts: 6,204
Registered: ‎08-16-2012
0

Re: Quickly get the credit you want!

Lol! It's great that you did that - I actually added my 13 year old sis as an AU to a few large limit cards. Great for her future!
However, actually building your credit yourself is what makes it so worth it.

While I believe that a lot of banks don't look at AU accounts.. I also must disagree as a friend of mine when we were 18 app'ed for a JCPenney acct., SHE HAD no cards herself, BUT her parents had her as AU on their accts., so she got approved at JCP for an $1,800 limit, which indicates to me at least a 700 FICO.
Of course, her mom made her cancel it :-P

Anyway, seems to me the problem could be the danger of being able to open credit without the actual experience of using credit wisely...

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k

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