building credit history

[revvystoke]

Tried app'ing for card with DW last month. Didn't go so well. We tried pulling scores/reports from myfico and other sites and the only one that found anything was credit karma. It gave a miserable score citing a CO in 2006. Apparently was a WF checking account that had been charging overdraft fees on overdraft fees and consquently wasnt paid. Should be falling off this year.

How long should we wait before trying again? She is a AU on my discover and amex. She was turned away by walmart but was approved for a $250 unsecured cap1. Still unable to pull up anything on myfico, so we will try again after a month or two of cap1 reporting.

[FocusedAndDetermined]

Wait  at least 6 mos, but 1 yr would be better.  This way the derog info will be gone, and your DW will have some reporting history under her belt.

[myjourney]

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@FocusedAndDetermined wrote:

Wait  at least 6 mos, but 1 yr would be better.  This way the derog info will be gone, and your DW will have some reporting history under her belt.

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Agreed

[HiLine]

+1

Help your DW manage her positive tradeline well and let the CO fall off. It'll be worth it in the long run.