First card(s) for someone with zero credit..suggestions welcome

[sdsoccerdad]

So I'm trying to help my brother build credit.  He has absolutely nothing under his name so I would like to help him establish something.  I don't want to add him as an Authorized user (unless I have to) and I believe his wife has a few cards under her name.  What would be a good way to start?  I had him check all the usual pre-approval sites and nothing there.

I was going to suggest a few things:

1. Have wife add him as an AU on a few of her accounts

2. Apply for some starter cards.

Any other suggestions?

TIA

[simplynoir]

Does he have anything on his credit report to generate a score? And it's not a bad idea for the first two suggestions. For starter cards assuming he can't go the unsecured route probably go Disco as one for sure since it can graduate and NFCU secured card (I'm assuming from signature if he isn't military you can get him in being a member yourself) from them as well that way he can get a head start with building history with them. Third one can be up to him if he wants/needs it; if the wife will be willing to add him to a card or two with solid history that would be ideal.

[Anonymous]

Assuming he has a checking/savings account with a bank, I would suggest checking to see if his bank offers credit cards.  Having a current business relationship with the bank might help to counter his lack of credit history.  

[Anonymous]

When starting out with zero credit I got a secured card through my bank. $300 and charged Netflix and Hulu and set up auto pay. You would be surprised how much and how fast it boosted my credit. 

If I could go back I’d get a discover secured because they let you upgrade  it and I had to close mine when I was able to get a regular card.

[sdsoccerdad]

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@simplynoirwrote:

Does he have anything on his credit report to generate a score? And it's not a bad idea for the first two suggestions. For starter cards assuming he can't go the unsecured route probably go Disco as one for sure since it can graduate and NFCU secured card (I'm assuming from signature if he isn't military you can get him in being a member yourself) from them as well that way he can get a head start with building history with them. Third one can be up to him if he wants/needs it; if the wife will be willing to add him to a card or two with solid history that would be ideal.

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There is absolutely nothing on his report.  I'll definitely do all 3 suggestions.  Can't believe he's gone this long with using only cash.

[simplynoir]

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@sdsoccerdadwrote:

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@simplynoirwrote:

Does he have anything on his credit report to generate a score? And it's not a bad idea for the first two suggestions. For starter cards assuming he can't go the unsecured route probably go Disco as one for sure since it can graduate and NFCU secured card (I'm assuming from signature if he isn't military you can get him in being a member yourself) from them as well that way he can get a head start with building history with them. Third one can be up to him if he wants/needs it; if the wife will be willing to add him to a card or two with solid history that would be ideal.

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There is absolutely nothing on his report.  I'll definitely do all 3 suggestions.  Can't believe he's gone this long with using only cash.

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I don't see anything wrong per say for using cash only if that's what someone chooses to do but for vacation/emergency purposes I don't know how someone gets by without one.

[Gmood1]

I would suggest either you or his wife add him to your oldest card(lowest utilization) and let it percolate for six months. Then he can get some decent cards on his own and skip the secure card route.

[Anonymous]

I'm kind of in the same boat ! I'm 30 and have no credit history , I do have one medical account in collections. Nothing major .

I applied for the discover it secured card, capital one platinum secured and Citibank secured. All 3 have zero annual fees and the potential to graduate into unsecured cards in the near future. (I was instantly accepted by capital one and discover, citi rejected me)

I also signed up for a self lender account .. Since I've never had any loans and fico likes for you to have a bit variety when it comes to different types of credit . It's like a savings account that reports to the credit bureaus, so in 12 or 24 months you get all your money back.

[simplynoir]

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@Gmood1wrote:
I would suggest either you or his wife add him to your oldest card(lowest utilization) and let it percolate for six months. Then he can get some decent cards on his own and skip the secure card route.

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This is an option as well. Some may not agree with the whole "AU card(s) to generate a score" aspect but I'm not one of them.

[Gmood1]

I'm with you Noir!😀
I've seen how much of a positive impact it made in my siblings and children lives. I'd do it again for them without question. I wish there would have been someone that could have done the same for me, when I first got started. I'm sure I'd went down a different path of least resistance and heartache, with my past credit choices. 😂