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My brother is 21 and has a 0 credit score nothing, pretty much a ghost. Now what would be the best way for him to get a card? We have tried a couple pre-qual sites and nothing. Would it be best for me to add him as an authorized user and let my accounts show on his reports and then have him try in a couple months for some prime cards? OR have him get a secured card?
Hey dude. I'm assuming he's been paying for things the past few years with debit/cash. You can tell him to go to his bank and see what they have him there. He might need to open a secured line like you said. If he's a student, he can try for some student cards (Capital One Journey, Discover It Student, etc.). Otherwise, you can have him as an AU but it might take longer than a few months to have a decent enough profile for good cards.
The downside is his bank doesnt offer any personal credit cards for people in his situation. I'm having him swith over to my credit union tomorrow and see what they can do.
I would add him as an AU and then have him get a secured card. He will be able to get his own unsecured card in no time.
@Anonymous wrote:I would add him as an AU and then have him get a secured card. He will be able to get his own unsecured card in no time.
+ This! AU will be best with low util of course. He'll need 6 months of history before he gets a score.
I assume he does not have any student or any auto loan then?
I will be adding him to one of my cards, All its going to be used for is gas and then PIF every month. Now the question is when I add him to my cards, discover or barclay doesnt ask for a SS# how would it show on his report with out that info?
@Anonymous wrote:I will be adding him to one of my cards, All its going to be used for is gas and then PIF every month. Now the question is when I add him to my cards, discover or barclay doesnt ask for a SS# how would it show on his report with out that info?
Yes, the vast majority of credit card issuers don't ask for SSBPNs for AUs with Amex being the exception. They still find them but with no credit file it 'might' be difficult. Have him get a secured card ASAP. That will do more for his credit building than anything.
@Anonymous wrote:I will be adding him to one of my cards, All its going to be used for is gas and then PIF every month. Now the question is when I add him to my cards, discover or barclay doesnt ask for a SS# how would it show on his report with out that info?
My DD is an AU on both my Discover and Barclay cards and there was no problem. Both show up in all three of her CR's. I recently dropped her from Discover. I spoke with a CSR to confirm that the history would continue to show on her CR and they stated it would remain for 10 years. The CSR took her SS# and did a push report to the bureaus just to make sure that the updated $0 balance was the last balance reporting before I called back to drop her off as an AU. I guess time will tell to see it it worked as he said it would.