Student Credit!

[MMart078]

What type of scores do banks look for students to have, I just ran an estimator 650 to 700 was the range given to me. So in that range what approx can I get or look at applying for to lengthen my credit file?

[SCF]

Howdy,

Can you give us an idea of what your credit file currently looks like?  If you are a student, there are some nice student CCs out there designed for young people with a limited credit history, but you might be ready for a traditional card if you have some good history already, or need to invest in a secured card if you have some negatives on your report.

If a student card seems right for you, I would check out the offerings from Citibank and see if any of the rewards programs appeal to you.

Hope that helps!

[Anonymous]

---

@MMart078 wrote:
What type of scores do banks look for students to have, I just ran an estimator 650 to 700 was the range given to me. So in that range what approx can I get or look at applying for to lengthen my credit file?

---

my daughter just applied for a discover student card last night and was approved for 500 with a truecredit (ex) score of 688, she never had credit and she is a au under me on couple of my cards

hope this help.....

[rosa29617]

Ladydi, if a youth is under-age and is an authorized user with their parents' card/cards will it help them in the long run? I guess what I'm asking is, 'how can your daughter have such a high score when she has never had credit before?' It seems that she would have had to build up her credit somehow, and if she was under 18, how could she have done that, unless she benefited by being an authorized user on your account. If these are valid questions, please explain.

[haulingthescoreup]

Yes, authorized user cards can definitely create and help your FICO score. Whether a future lender manually reviews the credit report (or sets their computer to flag only-AU-account records) is another story. Perhaps that's why ladydi's DD received a $500 limit, because Discover wants to see her have some success in managing a card of her own. But at least, a FICO score can be generated.

What you might want to do for your daughter is make her AU on one or two of your existing cards that you don't use much. First make sure to post the candidates here to find out if AU cards report! Not all do. Anyway, once you find a card or two, stop using it yourself, encourage her to use it, and log on once a week to see how she's handling it. The freshman year of college is full of unexpected financial requirements and even more unexpected social "expenses", and it's easy to get carried away. By taking a look once a week, you can see how things are going.

And really, if you have several cards like this that you can let her have as an AU while she's in college, that might be the best way around this horrible new requirement for a co-signer until she's 21. As I posted elsewhere, I'd co-sign for an 18-year-old son or daughter if I had to, but that card would be closed on their 21st birthday. I don't do joint CC's with anyone. I've read way too many stories.

Luckily, my youngest is 22!

[Anonymous]

---

@haulingthescoreup wrote:
Yes, authorized user cards can definitely create and help your FICO score. Whether a future lender manually reviews the credit report (or sets their computer to flag only-AU-account records) is another story. Perhaps that's why ladydi's DD received a $500 limit, because Discover wants to see her have some success in managing a card of her own. But at least, a FICO score can be generated.

What you might want to do for your daughter is make her AU on one or two of your existing cards that you don't use much. First make sure to post the candidates here to find out if AU cards report! Not all do. Anyway, once you find a card or two, stop using it yourself, encourage her to use it, and log on once a week to see how she's handling it. The freshman year of college is full of unexpected financial requirements and even more unexpected social "expenses", and it's easy to get carried away. By taking a look once a week, you can see how things are going.

And really, if you have several cards like this that you can let her have as an AU while she's in college, that might be the best way around this horrible new requirement for a co-signer until she's 21. As I posted elsewhere, I'd co-sign for an 18-year-old son or daughter if I had to, but that card would be closed on their 21st birthday. I don't do joint CC's with anyone. I've read way too many stories.

Luckily, my youngest is 22!

---

good evening, to answer that statement Rosa, yes they do..when i pull up my daugher report, boom there it is...dept stores, dillard, jcpenny, belk , bb mc,  and walmart...