topic Re: Limited credit CC's in Credit Cards

Limited credit CC's

iwant700fico — Mon, 22 Sep 2008 03:38:52 GMT

My son is 19 and he only has an auto loan with toyota financial services on his credit. The loan is 6 month old and in good standing. I pulled his credit score last night and true credit showed 697 with transunion, but he is getting declined for credit cards. any suggestions??

Re: Limited credit CC's

Anonymous — Mon, 22 Sep 2008 03:51:35 GMT

first, welcome.

second, read the credit scoring 101 thread. true credit scores aren't even good for entertainment purposes.

third, good luck and post up questions as they arise.

Re: Limited credit CC's

iwant700fico — Mon, 22 Sep 2008 03:58:28 GMT

I checked it with creditchecktotal and they had the same thing

Re: Limited credit CC's

Anonymous — Mon, 22 Sep 2008 04:02:10 GMT

myfico is the only place a private person can obtain true fico scores for tu, eq, and ex. with very few exceptions (wamu pfico and eq fico come to mind) the scores are worthless. throw darts at a calculator and call that your score, roughly the value the olther fako scores will be.

Re: Limited credit CC's

Anonymous — Mon, 22 Sep 2008 04:08:54 GMT

My true credit TU score is 748 and my fico TU is 700. I wish the true credit score was the true score but that's only wishful thinking on my part.

Re: Limited credit CC's

Anonymous — Mon, 22 Sep 2008 04:33:14 GMT

UNSECURED - He can also apply for a HSBC credit card.

Also Best option. SECURED - Bank of America, or any large bank will have secured credit cards. They are as effective as regular cards with hardly any fees. The advantage of the large banks is sometimes you can upgrade to a non secured card later and keep the past history on the secured card rather than start over with a new one.