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I am working on getting my husbands score up - 611. He has no revolving debt, just a student loan. He has a few late pays and one paid medical collection. Would it be better to get him a secured card to start building his credit or put him as an AU on my WFNNB card (Lane Bryant)? My concern is that I also have several late pays on mine from 2 years or go or even later. Will these late pays follow him onto his credit score or will he start with a clean slate as new AU?
We need to be in the process of buying new house a year from now.
Thanks for your help!!
@lmorel wrote:I am working on getting my husbands score up - 611. He has no revolving debt, just a student loan. He has a few late pays and one paid medical collection. Would it be better to get him a secured card to start building his credit or put him as an AU on my WFNNB card (Lane Bryant)? My concern is that I also have several late pays on mine from 2 years or go or even later. Will these late pays follow him onto his credit score or will he start with a clean slate as new AU?
We need to be in the process of buying new house a year from now.
Thanks for your help!!
So does he have any open revolving accounts now ? I would hold off from adding him as an AU on your card if there are late payments ~ he would inherit your payment history, and the lates wouldn't be good for his FICO score.
If he can't open an unsercured rebuilder card ( like Cap1...) then I would advise going the route of getting a secured card.....
Both, provided the AU card has impeccable history.
I would go for the Secured Card route.
If the goal is to simply increase his three-digit FICO score, then AU status, provided your account would be postive, would be beneficial.
However, AU status is not a free gimmee. It makes his score dependent on credit history that is not his, and thus raises questions as to its usefulness upon a manual review of his credit report. A secured card is part of his credit history, and in my opinion, is preferable in the long run, and upon manual review.
As state, they are not exclusive..... you can certainly do both.