Become Authorized/Joint User or Get Secured Card?

[Anonymous]

not sure if your remark was towards me but I was just saying a slight hit from new open account and wasnt saying damage from hard inq pull. 

[dr0265]

I'm sadly, so new to this, that I am struggling to understand it all.  My mom added me as an authorized/joint user on her Discover card.  Because I was in the market for a mortgage and just bought a new car, I was afraid to have another inquiry on my report because my hope is to rectify my sitiuation quickly.   I had spent 5 years getting my credit score back to a place where I could drive my own life again only to have a med collection undo all that hard work.  I thank you for all of your suggestions.  I hope I did not say something offensive, I did not mean to if I did. 

I signed up for SW.  My scores were worse than I thought

TU 598 EQ 566 EX 598

The CA I paid off last week is not showing, nor is my new car loan.  Also being added to my mom's Discover, but have to sign a letter first so that will be a while before it post.  Hopefully will see some updates soon....will try a GW to the CA and play the waiting game.....

Message Edited by dr0265 on 05-01-2008 06:41 PM

[shawnette]

If the collection isn't showing and neither is the new car loan, then something else must be keeping your scores low.  Bankruptcy?  Old COs?  Collections?  The people on these forums are great with helping people get their scores up, but you'll need to post what's in your reports in order to get some real help.

(But it shold be in the "Rebuilding Your Credit" forum.)

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dr0265 wrote:

I'm sadly, so new to this, that I am struggling to understand it all.  My mom added me as an authorized/joint user on her Discover card.  Because I was in the market for a mortgage and just bought a new car, I was afraid to have another inquiry on my report because my hope is to rectify my sitiuation quickly.   I had spent 5 years getting my credit score back to a place where I could drive my own life again only to have a med collection undo all that hard work.  I thank you for all of your suggestions.  I hope I did not say something offensive, I did not mean to if I did. 

I signed up for SW.  My scores were worse than I thought

TU 598 EQ 566 EX 598

The CA I paid off last week is not showing, nor is my new car loan.  Also being added to my mom's Discover, but have to sign a letter first so that will be a while before it post.  Hopefully will see some updates soon....will try a GW to the CA and play the waiting game.....

Message Edited by dr0265 on 05-01-2008 06:41 PM

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[dr0265]

The car loan is new (Apr. 23) so I have not even made a payment yet.  I'm sure it will report soon after the first payment.  I just paid the CA on Apr 22, so it is too soon as well, I suspect.  My score is low because I have no TL's except for my mortgage.  I have not had a credit card in 10 years. 

[Anonymous]

WOW 10yrs an no credit card! Congrats but now in todays world thts just not kool you need at least one bc fico does a Mix and I hope yr new loan doesnt make your score go down bc of the amount financed thts also figured into Fico ! I think your going to have to get copys of your report and start line by line read the Forum and BUMP Up those scores U can do it!!!!!!!! Good Luck

[dr0265]

Yeah, it really is not cool.  When I was younger I got in trouble with a cc and it scared me from getting one again. 

I cosigned the car loan with my mother--I hope it does not make my score go down--that would be hurtful since I bought it to improve my cr by having another TL.

I will try to GW the CA that I just paid, but beyond that, there is nothing else on there to work with.

[Anonymous]

Become an AU, get the score up and apply for a Prime card or cards.  Use the AU to obtain the credit.  Then when the AU stops counting in Fico 08, you will have your own cards to maintain. 

[dr0265]

I am being added to my moms Discover card as an AU, but they said we had to sign a letter first and then they would add me--no problem.  I suspect that will take some time to add as well, but it at least is a long standing card with a great history.  I tried to get a prime card and was turned down....I know it is my own fault....but how depressing this situation is.  But, thanks to this board, I don't feel quiet as alone in my plight.