@Remedios wrote:
@bourgogne wrote:
I am expert on 18 year olds. totally serious. what are the 3 lenders you already gave her? forget cap1, they are garbage aside from the 3 pulls. if one of the AUs was amex then that should be her first card, its a no-brainer. what does the pre-qual say? do a car refi in her name, penfed will to a 60 month so you dont have to do it over again for a while. better than an ssl, the auto loan will give her profile more depth imo. what state are you located in?
You're expert on what? 😐
All 18 year olds aren't created equal.
A few things, Capital One isn't garbage. May not work for everyone, but far from garbage.
Suggesting refinance without asking a single question of this child's income and how it would affect her DTI for years isn't the way to go about it.
Depth of profile at 18? Umm, doesn't work like that. Depth is achieved over time.
AU accounts are typically removed during application process so that the profile may be assessed on its own merit, and not someone else's payment history.
Amex doesn't hand out cards just because someone is AU.
I don't know how much reading you've done over the last 9 months, but they aren't particularly friendly towards new profiles.
Agree with this + the OP has already provided feedback on their strategy.
Starting at a very young age, most young adults don't have access to trust funds or similar instruments as echoed by @thornback. As far as Capital One, each individual can make their own personal decisions on what merits it has. In a variety of cases, one person's "garbage" is another person's treasure. Besides, while Chase is a decent bank, most millennials like to take advantage of more innovative FinTech solutions and don't particularly care too much for the big banks, other than when a specific opportunity arises 🤷♂️
