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Frequent Contributor
Posts: 283
Registered: ‎10-02-2012
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Brother has a car in his name, but CK and CS says no score due to insufficient history

I've been trying to keep my brother up to date with what I've been doing and explaining the benefits of maintaining good credit, etc. he now wants a CC. He has a car in his name (the car is in both his and my mom's name), which he got back in August.  He's been denied from Capone platinum and even american eagle's store card. How is it that he's had an auto loan in his name and have been making payments on time (except 1) but when he signed up for creditkarma and creditsesame, they said no score due to insufficient history? But then, when Capone denied him, they said his EX score was in the mid 600s, so I'm confused. Should he just buy the EQ and TU scores from here so he'll know for sure?

AE CC: $1,050 | AEO Visa: $1,890 | Cap1 QS: $2,100 | Chase Freedom: $1,000 | Citi Forward: $1,500 | Citi Double Cash: $1,000 | Discover iT: $500 | GameStop: $1,650 | Overstock: $1,700 | PayPal Smart Connect: $1,500 | Walmart $2,200

TU (Discover): 663 | EQ (Citi): 651
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Senior Contributor
Posts: 28,763
Registered: ‎02-07-2013
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Re: Brother has a car in his name, but CK and CS says no score due to insufficient history

[ Edited ]

Possibly financing with a company who doesn't report

Example buy here pay here most of them don't report to CR

This point should be stressed more here an app spree should not be encouraged because its not for every profile
A thick file will support more apps at one time while a thin file may see negative reaction to this process

IMHO 4+ at one time is to many for a new file and it should be kept to 1-3 a year but we get caught up sometimes in seeing the little wheel spin and the words approved
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Posts: 7,225
Registered: ‎09-16-2011
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Re: Brother has a car in his name, but CK and CS says no score due to insufficient history

 

Hi,

CS and CK are generally considered unreliable.  For a better way to determine if the car loan actually reports,

start with pulling your FREE Credit Report's from annualcreditreport.com. They tend to have more info on them than ones from a 3rd party. The Credit Reports from annualcreditreport.com, come directly from each of the CRA's. You can pull 1 Free Credit Report from TU, EQ and EX every 12 months.

Save your money and Don't Buy the Scores, they are what we call FAKO's.

 


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
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Frequent Contributor
Posts: 283
Registered: ‎10-02-2012
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Re: Brother has a car in his name, but CK and CS says no score due to insufficient history

The company does report, because it shows one late payment on my mom's report from his car. Also, he's really trying to get a card, if he has to go secured, he will, but he's really looking for an unsecured. Should I have him apply for Walmart CC and CapOne Journeys? And if denied, I'll have him apply for a secured card?

AE CC: $1,050 | AEO Visa: $1,890 | Cap1 QS: $2,100 | Chase Freedom: $1,000 | Citi Forward: $1,500 | Citi Double Cash: $1,000 | Discover iT: $500 | GameStop: $1,650 | Overstock: $1,700 | PayPal Smart Connect: $1,500 | Walmart $2,200

TU (Discover): 663 | EQ (Citi): 651

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