We are trying to build up my husband's credit enough to buy the house we are renting, hopefully by this time next year. He had nothing positive on his credit, a couple medical collection and one medical judgement from the hospital when our son was born and spent time in the NICU, and a verizon bill. Spoke with a mortgage specialist and she said not to worry much about the medical collections. I still am working on getting them paid off though. At any rate, he now has two secured cards from Wells Fargo and Cap One. Wells Fargo is showing up. Cap One is still not on there, but they are both new. His scored jumped from not having one into the high 500's and low 600's. Now we need to add a signature loan in there.
What would be better? I can refinance my car and add him on the loan but I only have a year left to pay it off, right around the time we are ready to buy the house. The second option is to get him a signature loan and not spend it. Immediatley pay back the debt within a month a month or two. Any suggestions?
Thanks!
Becky
