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Frequent Contributor
Posts: 424
Registered: ‎11-24-2016
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My parents never made me an Authorized User

They had scores in the 800s yet they never added me as an authorized user. When I asked in back in my teenage yeears for them to add me they said I should get my own card at 18 because building it up on my own would be faster. I always knew they should have added me as an authorized user so when I do turn 18,it would be easier to get my own credit card but I didn't argue with them. I found a job when I started college.One my 18th birthday, I immediately applied for Captial One Journey and Discover student both of which were rejects. I was so dsitraught and desperate that I applied for an unsecured credit card from my local credit union. It turns out that my credit union has a 2 star review and is extraordinarily incompetant. I couldn't even see what rewards were offered by secu student card unless I got my credit card only to find out later that I had to spend a decent amount with my credit card before I could see any of the redeemable point awards. Thankfully I was wise enough to read about the trash reviews of aspire visa credit card before I spent anything on it. Had I spent anything on that card, I would have surely died because no one survives a company that can't record payments. 2 days later I managed to apply and get accepted for discover secured without another inquiry and it's been my primary credit card ever since. So far my 3 month old credit score on Vantage is 659 and I can't wait to get my first FICO score. Part of the reason it's so low was because my credit union managed to add 3 new accounts and 1 inquiry to my FAKO score despite only providing one trash card I never use. I would surely have a score in the 700s had it not been for those unecessary accounts as indicated my creditwise simulator. In fact my first creditwise score was 709 before the incompetant secu managed to enter their credit card data into the system.

Had my parents provided me Authorized User, I probably would of been accepted for the journey and student discover and have had a much higher score right now. Anyone else resentful their parents never gave them Authorized User status?


Starting Score: Ex08-732,Eq08-713,Tu08-717
Current Score:Ex08-719,Eq08-717,Tu08-715
Goal Score: Ex08-760,Eq08-760,Tu08-760


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Valued Contributor
Posts: 1,098
Registered: ‎04-24-2014

Re: My parents never made me an Authorized User

No.  That's ridiculous.  You don't need a bunch of credit at 18 and you need to figure out how to use it properly.  If you're responsible, it won't take long for your scores to move up.  By the time you truly need credit, you'll have built up your history.  In 6 months to 1 year, apply for a shared secured loan so that you'll have an installment loan on your record.  A lot of people, in this forum,  use Alliant Credit Union.

 

You resent people if they harm you or do something to you.  Some, even parents, not giving you your way doestn't qualify. I added my kids as AUs, but they were in their late 20s early 30s and I understood more about AUs & how it works.  Prior to being on myFICO I was truly afraid of them running up my credit cards.  

Original Mortgage maturity Sept 2044; Refi maturity Dec 2030
Starting Score: EX 751 EQ 720 TU 737 on 4/9/14
Current Score: EX 849 EQ 835 TU 843
Goal Score: 850


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Frequent Contributor
Posts: 340
Registered: ‎12-26-2014

Re: My parents never made me an Authorized User

 

You can easily establish your own credit.  It just takes some time making sure you never miss any payments.  The cool thing about being 18 is that you have bucketloads of time.  Use your Discover for things you need and pay it full everytime.  You'll have a great credit score soon enough.

 

So stop blaming your parents.  Stop blaming your credit union -- if they really suck as much as you say, take your money elsewhere.  Stop blaming your Aspire Visa credit card -- if it's really that bad, close it.  Stop being so negative.  You're too young to be bitter -- life hasn't even kicked you in the teeth yet. 

 

Regular Contributor
Posts: 198
Registered: ‎09-27-2008
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Re: My parents never made me an Authorized User

Your credit score is so low because:

 

  1. your credit is is too new. Your accounts haven't had time to mature yet. Your average age of accounts is low. 
  2. You don't have payment history. Another big part of your credit score. 
  3. You don't have a mix of different types of credit.

Remember to not try getting credit cards everywhere b/c you will run up inquiries and that alone can get you denied. Also keep your utilization low. Pay off every month. You want stay under 10%. You are young enough to have a good credit future. Time sometimes is the only thing that will raise credit scores. If you hate your CU consider other places. Capital One is good for secured credit cards. I'm guessing when you applied for your first card with them you didn't have a credit score since you had no open lines of credit. I would check their prequal site now for a platinum card. That is just a soft pull. I would also get your real credit score to see where you stack up. A difference as little as 20 points can mean the difference of an approval or denial. 

 

Best credit wishes!

Starting Scores: September 2015 - 500 across the board
Current Scores: March 2017 EQ: 692 TU: 692 EX: 680

In My Wallet:
Cap1 QS: $4K - AMEX BCP: $4.2K - Old Navy Visa: $5K - SDCCU: $1.5K - VS $500 (FTW!)
BofA AU: $12K AMEX AU: $15K
Frequent Contributor
Posts: 424
Registered: ‎11-24-2016
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Re: My parents never made me an Authorized User

[ Edited ]

bdhu2001 wrote:

No.  That's ridiculous.  You don't need a bunch of credit at 18 and you need to figure out how to use it properly.  If you're responsible, it won't take long for your scores to move up.  By the time you truly need credit, you'll have built up your history.  In 6 months to 1 year, apply for a shared secured loan so that you'll have an installment loan on your record.  A lot of people, in this forum,  use Alliant Credit Union.

 

You resent people if they harm you or do something to you.  Some, even parents, not giving you your way doestn't qualify. I added my kids as AUs, but they were in their late 20s early 30s and I understood more about AUs & how it works.  Prior to being on myFICO I was truly afraid of them running up my credit cards.  


I need to get a card in 2 years and car insurance depends on credit score. That's why it's essential to get as high a credit score as possible during the 2 years I have. I also need to get my lifelong credit cards ike chase freedom and citidouble cash at least 2 years before I buy a house so that their inquiries don't raise my loan. My situation isn't good at all.My parents really shouldn't be afraid of me because I was always responsible with finance. What would I be loaning for my shared secured loan?


Starting Score: Ex08-732,Eq08-713,Tu08-717
Current Score:Ex08-719,Eq08-717,Tu08-715
Goal Score: Ex08-760,Eq08-760,Tu08-760


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Frequent Contributor
Posts: 424
Registered: ‎11-24-2016
0

Re: My parents never made me an Authorized User


tacpoly wrote:

 

You can easily establish your own credit.  It just takes some time making sure you never miss any payments.  The cool thing about being 18 is that you have bucketloads of time.  Use your Discover for things you need and pay it full everytime.  You'll have a great credit score soon enough.

 

So stop blaming your parents.  Stop blaming your credit union -- if they really suck as much as you say, take your money elsewhere.  Stop blaming your Aspire Visa credit card -- if it's really that bad, close it.  Stop being so negative.  You're too young to be bitter -- life hasn't even kicked you in the teeth yet. 

 


My time is not abundant at all. I have so many credit related things I must accompish before I graduate. I need to get a card in 2 years and car insurance depends on credit score. That's why it's essential to get as high a credit score as possible during the 2 years I have. I also need to get my lifelong credit cards ike chase freedom and citidouble cash at least 2 years before I buy a house so that their inquiries don't raise my loan.


Starting Score: Ex08-732,Eq08-713,Tu08-717
Current Score:Ex08-719,Eq08-717,Tu08-715
Goal Score: Ex08-760,Eq08-760,Tu08-760


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Moderator
Posts: 16,954
Registered: ‎12-30-2011

Re: My parents never made me an Authorized User

[ Edited ]

Subexistence wrote:

tacpoly wrote:

 

You can easily establish your own credit.  It just takes some time making sure you never miss any payments.  The cool thing about being 18 is that you have bucketloads of time.  Use your Discover for things you need and pay it full everytime.  You'll have a great credit score soon enough.

 

So stop blaming your parents.  Stop blaming your credit union -- if they really suck as much as you say, take your money elsewhere.  Stop blaming your Aspire Visa credit card -- if it's really that bad, close it.  Stop being so negative.  You're too young to be bitter -- life hasn't even kicked you in the teeth yet. 

 


My time is not abundant at all. I have so many credit related things I must accompish before I graduate. I need to get a card in 2 years and car insurance depends on credit score. That's why it's essential to get as high a credit score as possible during the 2 years I have. I also need to get my lifelong credit cards ike chase freedom and citidouble cash at least 2 years before I buy a house so that their inquiries don't raise my loan.


Couple of random points.

 

I'd be way more worried about the APR on the auto loan than insurance rates, and scores (if they're even used at all, California flatly forbids the pulling of credit for an insurance decision for example, your state might be similar as so much of this is state by state both for banking and insurance) are going to not affect prices as much as your being ~20 at the time.

 

So your local CU is suboptimal or maybe you didn't ask the right question if you put 2K down on a Discover secured card according to your other thread.  Unlike what some other poster in said other thread said, if you have cash laying around I don't know why you don't shortcut things with a couple quality secured cards and secured loan reindeer games... other than student cards most unsecured starter cards kinda sorta suck and the lenders that issue them have no upside longer term.

 

Citi DC is on the downswing in popularity and 2% is so common today I'd caution against anyone making that a goal card.  Also products do get changed and cancelled, focus more on lenders than individual products (which is something I had to remember yesterday when it came to my recent Chase Sapphire Reserve fun).

 

Inquiries only affect score for a year, as long as you're inquiry free for the 12 months leading up to a mortgage you're as clean as possible.

 

Finally, it is not your parents fault they didn't add you as an AU, hardly anyone really does: the state of credit education in the United States (and probably everywhere else too) is simply abysmal.  That's the bigger problem.  I'm starting to think I won't ever have children but if I did, and on the assumption I educated them about credit (which would certainly be on the table) I'd add them as an AU sure, but it's not that big of a deal as you think if you have a couple years of runway... couple tradelines can get you to an 800 FICO 8 score in 2 years; that won't be your underwriting hurdle.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 693, TU 4 742, EX 2 702, EQ 8 722, TU 8 757, EX 8 737 (5/13/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Frequent Contributor
Posts: 340
Registered: ‎12-26-2014

Re: My parents never made me an Authorized User


Subexistence wrote:

tacpoly wrote:

 

You can easily establish your own credit.  It just takes some time making sure you never miss any payments.  The cool thing about being 18 is that you have bucketloads of time.  Use your Discover for things you need and pay it full everytime.  You'll have a great credit score soon enough.

 

So stop blaming your parents.  Stop blaming your credit union -- if they really suck as much as you say, take your money elsewhere.  Stop blaming your Aspire Visa credit card -- if it's really that bad, close it.  Stop being so negative.  You're too young to be bitter -- life hasn't even kicked you in the teeth yet. 

 


My time is not abundant at all. I have so many credit related things I must accompish before I graduate. I need to get a card in 2 years and car insurance depends on credit score. That's why it's essential to get as high a credit score as possible during the 2 years I have. I also need to get my lifelong credit cards ike chase freedom and citidouble cash at least 2 years before I buy a house so that their inquiries don't raise my loan.


The cards you have (aspire visa, discover secured) are enough to establish a great credit score in 2 years, provided you always make your payments on time.  There's no need to freak out over it.  If you don't have any lates, in 1 year, you can apply for one of your goal cards and as long as your income supports it, you'll get it.  Not being added as an authorized user by your parents isn't that big of a setback.   

 

If you plan on buying a car and a house in two years, credit shouldn't be your primary focus -- that takes care of itself as long as you are never late with payments.  Heck, most of my friends had very few credit cards and never saw their credit scores until they applied for a mortgage and they were all in the 800s.  Your focus should be on saving enough money for down payment.  I don't care what your credit score is, but if you have no means to pay for it, you'll have a hard time buying a house. 

Valued Contributor
Posts: 1,816
Registered: ‎10-10-2011

Re: My parents never made me an Authorized User

Dude, you sound like a little kid throwing a tantrum.  Resenting a parent is reserved for deep psychological and emotional scarring, the kind that involves incarceration and prison time. 

 

What I tell my children:

 

Your entitled to 4 things:

 

1- food

2- clothing

3- shelter

4- medical attention

 

Anything else you get is a privilege!

 


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
Frequent Contributor
Posts: 480
Registered: ‎12-21-2009

Re: My parents never made me an Authorized User

Parents are obligated to keep you alive, feed you, clothe you, put a roof over your head, keep you safe, and make sure you go to school.  That's it.

 

If they did that and were kind and loving to you...then you are extremely blessed!

 

EXPECTING things above and beyond that is ridiculous.  You should only be grateful for anything else they give you.

 

Take responsibility for your actions.  When you get a credit card, make sure you understand all the terms.  Read the paperwork they send you as well as the website.  Call for clarification.  If you don't like the terms, close the accounts and double check they are closed and not continuing to charge you any fees.

 

 

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