cancel
Showing results for 
Search instead for 
Did you mean: 

How are my Parents doing??

Regular Contributor

Re: How are my Parents doing??


@scarp wrote:

I am in in my upper teens


I looked back under your posting name, "Scarp" and see you've made some other posts saying something about your husband.  I presume you took over your parents' log in?

 

 

Message 11 of 21
Established Member

Re: How are my Parents doing??

you got it!

Message 12 of 21
Moderator Emerita

Re: How are my Parents doing??


@scarp wrote:

you got it!


I'm sure that you aren't meaning to be deceptive, but this isn't allowed under forums rules. It's very easy to create your own log-in.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 13 of 21
Moderator Emerita

Re: How are my Parents doing??

--after taking a quick look over the thread, I'm not sure that you know all the things that you need to know about personal credit management. For instance, you don't lose credit history when you close a card; it stays there for another 10 years. (Normally.) And so forth.

 

Right off the top, I'd say that aiming for around 8 cards max might be the first step. Don't open anything until you understand how it will affect their AAoA. Know when the oldest account is going to fall off, and which account will then be oldest, and know if that will significantly affect them, and so forth.

 

Many members here have waded into credit building without knowing the ins and outs first, only to find that they had a mess on their hands.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 14 of 21
Frequent Contributor

Re: How are my Parents doing??

Multiple balance transfer cards?

 

I don't know man. There AAoA is down to 8 years with 3 32 year accounts? I hope their scores aren't getting butchered by the addition of all these accounts


Starting Score: 703
Current Score: EQ 820 4/11/16
Goal Score: 800


Take the FICO Fitness Challenge
Message 15 of 21
Established Member

Re: How are my Parents doing??

Just realized this sorry,

One last question for this thread, if i close one of the most recently opened accoutns will it still caount in the AAOA? I know when it is closed it will appear on there reports for 10 years.

Message 16 of 21
Moderator Emerita

Re: How are my Parents doing??

If it's on your (their) reports, it's counted, whether open or closed.

 

I urge you to do a lot more reading here on the forums before you take any more actions.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 17 of 21
Moderator Emeritus

Re: How are my Parents doing??


@haulingthescoreup wrote:

If it's on your (their) reports, it's counted, whether open or closed.

 

I urge you to do a lot more reading here on the forums before you take any more actions.


I agree. Take your time and do things right.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Message 18 of 21
Moderator Emeritus

Re: How are my Parents doing??

Scarp (or in reality I guess you're really not scarp), create your own login so that you can post on the forums.  

 

As hauling stated earlier on this thread, "I'm sure that you aren't meaning to be deceptive, but this [posting under another's login] isn't allowed under forums rules. It's very easy to create your own log-in."

 

And I agree with MVV and HTSU - "I urge you to do a lot  more reading here on the forums before you take any more actions."

Just puttin' syrup on something, don't make it pancakes.
Message 19 of 21
Established Contributor

Re: How are my Parents doing??

What makes me nervous about this whole deal is...  Why would an older teens parents want, need or let their child handle a vast majority of the finances? I have worked with various law enforcement agencies on identity theft cases and about 9 times out of 10 its some one you know well more so children using their parents info and a few times vice versa and the occasional "friend" as well. while I think what your doing is admirable AS LONG AS EVERYTHING is on the up and up, however, if not I would advise you to stop immediately and confess to your parents before they get police involved. I am not saying you are defrauding your parents by any means, I unfortunately have lost ALOT of faith in people and their intentions over the last 10 years based on all I have seen. There is nothing worse than the look on John and Jane Smiths face as you explain that it was their child that put them into 50k + debt virtually over night just my .02 cents 












undefinedundefinedundefinedundefinedundefinedundefinedundefinedundefinedundefinedundefinedundefinedundefinedundefinedundefinedundefinedundefinedMy ImageMy ImageMy ImageMy Image



My Image
Message 20 of 21
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.