cancel
Showing results for 
Search instead for 
Did you mean: 

Should I Do or Not

Established Contributor

Re: Should I Do or Not

I guess it depends on the lender about inqs and cosginers.

 

A buddy of mine had issues with inqs for 12 months old too.

Message 11 of 18
Established Contributor

Re: Should I Do or Not

Back on topic:

 

Im not sure what you are tyring to accomplish.  Just getting another card to mix things up a bit?  You have 4 cards i think thats good.

 

 

If you want a higher limit card maybe a CU.  Heard they are more generous with CLs and lower rates.

 

 

But i'm not a fan of getting credit just to get credit or for thinking it will help with CRs or FICO score.  I'd only get another if you really needed it like for a low rate or rewards or something.

Message 12 of 18
Moderator

Re: Should I Do or Not

FWIW I'd do absolutely nothing with your credit report right now, and concentrate soley on fixing your wife's credit score.  Depending on what is wrong with her report, you may still hit the July '13 target or even earlier; I started this my silly journey at a 561, and posted above the 640 mark six months into the process, and that was without removing any of the negative information from my report.  My scores may have flatlined now, but on pure FICO basis I'm mortgage qualified with my middle score almost assuredly above 640.

 

 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


Take the myFICO Fitness Challenge
Message 13 of 18
Moderator Emeritus

Re: Should I Do or Not

If shes not an authorized User on your accounts yet; I would definately do that to improve her scores... with no income I'm not sure there is much you can apply for unless you are in a community property state.... are you in a community property state?

Also if your credit one account has an annual fee; feel free to ditch it.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 14 of 18
Established Contributor

Re: Should I Do or Not

+1

Message 15 of 18
Frequent Contributor

Re: Should I Do or Not

Can't you put down 100,000 for your income since, if you're married, that would be your money as well?  How about applying for a Chase Freedom and a CSP within a few minutes of each other? It will most likely be one inquiry. Just put down your wife's income. Chase is less likely than Amex to want proof of income. If you get the cards then I would think adding your wife as an authorized user would be good, as long as they don't care too much about her credit score. Best of luck.

Message 16 of 18
Established Contributor

Re: Should I Do or Not


koalablue wrote:

Can't you put down 100,000 for your income since, if you're married, that would be your money as well?  How about applying for a Chase Freedom and a CSP within a few minutes of each other? It will most likely be one inquiry. Just put down your wife's income. Chase is less likely than Amex to want proof of income. If you get the cards then I would think adding your wife as an authorized user would be good, as long as they don't care too much about her credit score. Best of luck.



Chase asks for the name of the employer.

100% Ficos: EX 780 , TU 783, EQ 776 inquiries last 2 years/1 year/6 months: EX-0/0/0, TU-0/0/0, EQ-1/0/0~ last credit card app 6/24/13- New car loan 3/8/2014- Discover IT $12,500~Kohls $1000~Amex BCE $4000~ Walmart Discover $7500~NFCU Signature CashRewards $23,300 Chase Freedom MC $6000~ Chase Amazon Visa $1900~ Cap 1/HSBC MC $3800~ Amazon Store $7000~ Fingerhut $1050
Message 17 of 18
Regular Contributor

Re: Should I Do or Not


ccnewcc wrote:

Brandnick wrote:

I guess the additional reason for applying is for a good mix of revolving credit( which you said is ok) and one card with a high CL like an Amex.

 

The mortgage is not a major concern now as my wife's credit is in the mid 500's and to get mortgage she needs to be at minimum 640. I know it will take a year to get hers up  and fixed. 

 

So the question is really now is what is the best credit card with my score of 763. I really don't care about rewards or point more important is the potential of growth with the CL .

 

 


So off topic a bit but, can't you get a mortgage yourself?  Or i guess what i mean is a both parties of a married couple does not need to be on a the mortgage app, and note.  Its perfectly fine for only one spouse to be on the loan when both or only one spouse contributes to the household income.  


Is this really true? My wife has challenged credit and we're trying to get her scores up to 640. If I could apply alone and be able to use both of our incomes, I would do it tomorrow. I have never heard of this, but I sure as heck hope you're right.

 

EDIT: I just now saw the other responses.

-------------------------------------------------------------------------------------------------
Starting Score - 575 (4/10)
Current Score - EQ - 750, TU - 752, EX - 728 11/4/12

Current Cards:
AMEX SPG ($7.5k), Amazon.com Visa ($3k), Discover More ($2k) all since 11/4/12

Fighting the good fight!
Message 18 of 18