So I started building my wife's credit when we got married ( and she came to America then so didn't have any credit )
She has excellent credit now. 760 +/- FICO. Very low DTI. Almost no debt at all and pretty high limits on like 4 CCs, Macys Card, and I think Chevron Card.
I mostly manage her credit (pat my self on the back) and I am really proud of the job I've done.
Her car lease is almost over (was under my name) and she just got approved, all on her own, for a new lease through VW on a $36K Tiguan SEL.
I am all smiles, but I don't want to celebrate until I sign the papers =)
My question: How can I expand her credit and take it from exellent to perfect? I know the car lease will incrase her score, but I want to diversify her credit.
I was thinking about taking out a personal loan for her. Don't know the amount, but either something small, like $500, and then pay it off in 5 months. Or perhaps something larger and use it to pay off some of my CC debt. I don't have much experience with that. I am pretty good with managing my credit, but my finance skills are pretty weak. I would be able to build a very comlicated server, but I couldn't answer the most basic % question or anything else
What do you recommend? Does it make sense to do the small loan? Should I do a larger loan? Or any other ideas on how to diverify her credit?
Merci, Gracias, Spasibo, Danku Shon, and Toda Raba
