@farrenday wrote:Okay so I pulled his creditkarma which I know is a FAKO but here's what it said. I'll pull his other reports later.
Score: 595
He is currently a student so he added a $4700 financial aid loan that boosted him to the 595 from his score of 538 5 months ago.
Five Delinquent accounts. The Century bank was his car that is paid off.
1. FST PREMIER Credit Card Closed 1 0% 2. FST PREMIER Credit Card Closed 1 0% 3. WFNNB/EXPRES Credit Card Closed 1 0% 4. CAP ONE Credit Card Closed 1 0% 5. CENTURY BANK Personal Closed 4 92% These credit cards were below 2,000 total and were last used 2 years ago.
You have the following credit inquiries listed on your credit report:
Lender: Type: Date: 1. NARS Collection Services Mar 9, 2012
So that's everything. I know the first two are credit cards, third is an Express Card, and the 5th is a paid off vehicle.
Any advice is appreciated!!
1st I would debt validate any accounts that are not his.
2nd I would PFD any collections or chargeoffs that you can afford to pay in full.
3rd Goodwill all/any lates.
4th Add him as an authorized user to your oldest/largest accounts if you feel comfortable...and if not have him go to a local credit union and start a secured credit card and build it every month if possible. Have him do that even if you add him as an auth user.
5th after 6 months have him try to apply to Cap 1 Hopefully with the secured card and au on your accounts, that will put him at 3-4 cards. Have all of the cards but one report 0 and one card reporting 3-9% of credit limit. (You can skip this step, especially if he has a total of 3 credit cards)
Make sure he pays on his student loan and is never late on anything! Impress the thought that at this point there has to be a strict budget and you will not have any play money in order to get these accounts taken care of. I would say once you get him more available credit and get that collection paid and removed he may be around 620. I do not see any luck with goodwilling any lates but you can try and should try.
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My husband is not on the loan and is a stay at home Dad. They told me if he worked, our income would be too high to qualify for this program we are going through. His score is nonexistent as he has a thin file so he won't be on the loan. So they MIGHT consider your husband's additional income. I would ask. I just added my husband as an AU on one of my credit cards. See if you can add him as an AU to your cards so he can earn good payment history to get his scores up.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! 
Last App: 4/5/13 Gardening until July 2014
