Advice needed before opening secured credit card

Anonymous · ‎03-30-2015

Hi all,

My sister and I would like to establish credit. We keep getting denied and we have no baddies on both our credit. I only have 1000 available credit split into 2 cards (700 and 300).

We browsed the site for the past weeks and wanted to know if you would recommend that we open a joint secured credit card with Bank of America for 2000 or 1000 each and list each other as AU?

THANKS IN ADVANCE FOR YOUR ADVICE.

sjt · ‎03-30-2015

@Anonymous wrote:
Hi all,

My sister and I would like to establish credit. We keep getting denied and we have no baddies on both our credit. I only have 1000 available credit split into 2 cards (700 and 300).
We browsed the site for the past weeks and wanted to know if you would recommend that we open a joint secured credit card with Bank of America for 2000 or 1000 each and list each other as AU?
THANKS IN ADVANCE FOR YOUR ADVICE.

I would strongly recommend that you each open your own secured card. I dont think having eachother as an AU will help much, especially with the new scoring models.

American Express: Platinum Charge, Business Platinum, Business Gold, Delta Business Reserve, Business Cash, Business Plus
Bank of America: Alaska Air Atmos Summit Visa Infinite
Capital One: Savor WEMC, Venture X Visa Infinite
Chase: Freedom U Visa Signature, CSR Visa Infinite
Citibank: AAdvantage Globe WLMC
Elan/US Bank: Fidelity Visa Signature
Credit Union: Cash Back Visa Signature
FICO 08: Score decrease between 26-41 points after auto payoff (11.01.21) FICO as of 12.24, EX: 816 / EQ: 825 / TU: 818

Anonymous · ‎03-30-2015

Thank you! We will open seperate accounts then.

Anonymous · ‎03-30-2015

@Anonymous wrote:
Thank you! We will open seperate accounts then.

Good decision..