Daughter CU pre-approval (soft pull) BUT requires Co-sign!?!?

[Anonymous]

To recap, my daugther just graduated few months ago from 4 year college and she found a job that starts next week. She has 2 credit cards (1 is CU student Visa for the last 4 years, perfect payment history, and un-used store-branded Visa for 2+ years but still reporting excellent payment history along with her student loan). Her credit scores are in 760's acorss the board FICO.

Her CU says they won't approve her without co-sign because less than 1 year employment. She doesn't know I filed for BK last year so I rather not co-sign and disappoint her with much higher rate!!

What options does she have?

Thanks for your feedbacks! Much appreicated!

Cheers!

CAMailman

[Anonymous]

Have her try the Cap1 pre-qualifier. DCU and PenFed are great CU's with great rates.

How much does she make and how much is she trying to finance?

[MrsCHX]

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@Anonymous wrote:
Have her try the Cap1 pre-qualifier. DCU and PenFed are great CU's with great rates.

How much does she make and how much is she trying to finance?

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+1

She may need to readjust her expectations. I had to take a higher rate than I wanted on my loan so I went with a Ford Focus, financing just around $13K vs the Mazda CX5 that I really wanted. 

Since her scores are good, she would easily be able to refinance in a little while if she has to take a higher rate. 

[Anonymous]

Have her try Carvana.