Trying to help girlfriend build credit

[Kirmie2010]

I half forgot what I was wanting to reply when I hit the button =/

"So when looking at options I don't want to create an account that will bring down the AAoA."

Any card you open is going to drop her AAoA unless she has no AAoA yet.  Not sure how loans factor with AAoA.

Dont co sign.

I would do the AU route.  (after 2 months of being an AU on 3 cards, my wife got 2 cap 1 cards of her own)

The controversary isnt whether or not it works (it does) its what companies disacard AU info when you apply for a card.  Ive heard AmEx disregards AU info but its just what ive read.  CapitalOne for sure does count AU info.

You can still get the signup bonus for Discover or whoever at a later time, so that atleast is still on the table (authorized users should not be disqualified from qualifying for the sign up bonuses because theyve never had an account)

Pre qualifiers (just a SP, no mark on your score)

CapitalOne

CreditOne

BankofAmerica

USbank

Chase

Citi

AmericanExpress

Theres lots more out there, but just some to try every few weeks.

Then you can also try going and doing the shopping cart trick at victorias secret or express (2 of the easiest in my opinion to get)

If you dont know the shopping cart trick, google myfico sct shopping cart trick how to

(You add stuff, go to checkout, put in shipping info and get a pop up or dont)

That would atleast get a card of her own to start off.

If you try a secured card route, go with a CU or bank secured card.

Good luck!

[CreditDunce]

A couple small points:

1) AU accounts can help establish her credit.  But if the CRA's don't think the AU is valid, they may not add it to her credit file.  If you live together (same address), there is a good chance it will be added.  Ditto for family members.  But there is no way to know for sure if it will be added.  If she has family members with established CC history, it might also be an option.

I think Chase ignores AU and store cards.  But there are plenty of other CCC's still using FICO 04 scoring.

2) Pre-qual sites only work if you are 21 or older.  What counts as income is also more stringent for people under 21.

3) If she doesn't have an existing installment loan (that she is making payments on), adding a shared secured loan from a credit union may help her credit.  The smaller the amount of the loan (less interest) and longer the term (helps long term AAoA), the better.

4) Speaking of credit unions, CU's are another option (besides Cap1) for a credit card.  If she is a member of any credit unions, check with them to see what they offer.  If her father was military, see if he can get her into NFCU. 

5) If she is willing to pay an AF, BoA has a nice secured credit card that will graduate to a unsecured card (normally within 1 year).   However, the unsecured card will still probably have an AF.   I am sure Cap1 will also give her a card.  And the Journey isn't bad for a student.

6) Discover will be a crap shoot if she gets approved with limited credit history.  But they do seem to like people with clean if limited credit history.  I think it would be worth the shot.  She might need to request the Student version, though.  Typically, there are no sign up bonuses for the student cards.  Sometimes  Discover will deny applicatants with limited history.  But then turn around and offer them a secured card.

[Anonymous]

Co-signing a cc for anyone is not a smart idea, especially if you aren't married. Things like joint checking or savings are different.

If you really want to get a joint credit card, it should be after you are married and should initially have a limit of no more than $1000.

with that said, she isn't telling you something. You don't get scores in the 500 range by paying all your bills ontime. She's gotta either have baddies or missed payments. Loans themselves don't typically hurt your score much. I have scores in the high 700s and I have $28k in student loan debt.