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Credit mix Question

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exleyfam
Member

Credit mix Question

Since I totally trashed my credit in 2005-2006 I have had nothing in my name. My cars have been in my parent's names since part of my credit crash was a reposession. I was young and really stupid. I got married 2 years ago and last fall my wife added me to her JCP card ($800 CL) and Kohls card ($1000 CL) and my parents added me to their CareCredit ($5000 CL) cards. The only other thing that reports currently to my credit is 2 small SL's through Sallie Mae ($2500 combined). They both show "Current Pays as Agreed, was 120 days Late." My wife and I went and traded our vehicles in Friday (had 2 SUV's and we both put about 2500 miles per month on our cars so gas was killing us) and just to see what would happen we asked if I could be put on the loans. Her score is 740 (per the car dealers Transunion report) and mine was 569. Surprisingly they were able to put me on the financing for both brand new cars and we still got 3.9% on the loans. How much of a bump could I possibly see with this? The last auto loan I had with my name on it was paid off in 2007 (besides the repo which has already fallen off the CRs)

4/23/2013 TU FAKO (CK) 610
4/26/2013 TU (Pulled by car dealer) 569
4/29/2013 EX FAKO (CreditSesame) 610
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1 REPLY 1
guiness56
Epic Contributor

Re: Credit mix Question

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