Credit questions

[Anonymous]

My credit scores are all over 700 .I'm working on my husband scores which are 550,540 and 560.I have 7 credit cards would it be a bad idea to add him as an authorized user on 1 or 2 of my cards?Will it affect my scores?He also has 21 inquiries on his reports. He filed bankruptcy in his previous marriage whicg has been dismisses since 2012 is their any way to get this off his credit report? Lastly he has a credit one bank card listed as a charge off balanced owed is $575 which he got in Feburary 2018 .He only used $200 off the card .What can we do ?I'm new to repairing credit and need feedback thanks everyone in advance.

[Anonymous]

Do you have a specific end in mind with respect to your husband's scores?  For example, you two might be planning to buy a house in six months.  The more specific the need (and timeframe) the better advice you may get.

Does your husband have any open credit cards in his own name?  Can you list all of his accounts that have a positive balance?  If the account was closed and/or charged-off, let us know that too.

Adding him to any of your cards as an AU will not in itself hurt your scores.

Adding him may help his scores or hurt them.  If you add him to a young nearly maxxed out card, that will likely hurt his scores.  If you add him to an old card with a zero balance and no derogs, that will likely help him (if the card is much older than his oldest account).

The folks in the rebuilding forum can likely help you best.  Would you like me to ask a moderator to move this thread there?

[JVille]

Am I understanding correctly that he has a new card as of Feb 2018 that is already a Charge Off?
21 injuries ? At 4 points an inquiry that is a tough nut. Do not under ANY circumstances allow him to have anyone pull his credit for the next Full year and preferably 24 month.
As to the charge off that recent, it needs to be settled yesterday. I suggest trying a “pay for delete” to attempt to make it go away completely.
Any chance you can qualify without his income?

[Jnbmom]

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@JVille wrote:
Am I understanding correctly that he has a new card as of Feb 2018 that is already a Charge Off?
21 injuries ? At 4 points an inquiry that is a tough nut. Do not under ANY circumstances allow him to have anyone pull his credit for the next Full year and preferably 24 month.
As to the charge off that recent, it needs to be settled yesterday. I suggest trying a “pay for delete” to attempt to make it go away completely.
Any chance you can qualify without his income?

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I agree here, he should not be applying for anything 21 inquires?? Also is that correct the account was opened in 2/2018, I can't see that being charged off so quickly? Also was the BK dismissed or discharged?

[Anonymous]

Make sure you don't give him the cards after you add him as AU.

[SouthJamaica]

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@Anonymous wrote:

My credit scores are all over 700 .I'm working on my husband scores which are 550,540 and 560.I have 7 credit cards would it be a bad idea to add him as an authorized user on 1 or 2 of my cards?Will it affect my scores?He also has 21 inquiries on his reports. He filed bankruptcy in his previous marriage whicg has been dismisses since 2012 is their any way to get this off his credit report? Lastly he has a credit one bank card listed as a charge off balanced owed is $575 which he got in Feburary 2018 .He only used $200 off the card .What can we do ?I'm new to repairing credit and need feedback thanks everyone in advance.

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My advice would be:

1. Keep your credit and his credit separate.

2. Let him start sending verification letters to the bureaus to try to reduce the number of negatives. There are services you can hire who do this work for a reasonable price.

3. He should pay the bank in full and then try to remove the chargeoff.

4. He shouldn't apply for anything until his scores are in the 600's.

5. Once his scores are in the 600's he should get a secured credit card from a credit union, use it only slightly, and take good care of paying it off in full each and every month.

[Anonymous]

Thanks alot for responding I'm new to credit repairing myself.The bankrupcy from his previous marriage has been dismissed which states it on his credit report.He has that 1 capitol one card in his name which he stated he used $200 but has a $575 charge .Should he pay the whole balance or attempt to pay 50% of it ?His total debt is $21,005 which is the balance of his new vehicle which is in good standing..He has a furniture account in goodstanding also thats all on his credit report.And yes if you can add this post to another forum to get more advice I'd appreciate that.My credit cards are in good standing but I've only had them all for about 3 months.I didn't know if adding him as an authorized user would help or hurt .I'm not going to give him a card but just add him.Thanks again

[Anonymous]

According to him he only used $200 off this card and now theirs a $575 balance .He has those inquiries mainly from 2016& 2017.His total debt is like $20,000 which is for his new vehicle which the account is in good standing and a furniture account in goodstanding thats all on his credit report and lastly a bankrupcty on his credit report that has been dismissed since 2012.

[Anonymous]

Thanks for your feedback I have 7 ccards but I've had them for about 3-4 months .I was only thinking of adding him as an authorized user but not give him a card.I know he needs to take care of the credit card.His total debt is about 20000 which is for a vehicle thats in good standing and a furniture account in good standing ,he has a bankrupcy that has been dismissed since 2012 thats all on his credit report.

[Anonymous]

Your cards are all very young, so I do not see any scoring advantage in adding him as an AU.  Naturally feel free to add him as an AU to a major credit card for convenience, so he has a credit card he can use for gas and restaurants and groceries and so forth -- but don't do it because you think it will help his score.

In the meantime, you and he need to work on clearing himself of all CC debt.  SouthJ gave a lot of good advice.

I have never heard of a creditor deleting a bankruptcy, since that is closer to a public record, as opposed to a single account that exactly one creditor might have control over.  You can research the type of bankruptcy -- it will fall off his reports either 7.5 years later or 10 years.

Very important is careful introspection on how so much negative mismanagment of credit got on his reports in the first place, including bad marks happening after the BK.  This kind of vigorous self-criticism is essential so that you can both set up safeguards to prevent it happening again.  In AA it is Step 4 and is called making a "fearless and searching moral inventory" of one's past.  You can delete the word moral if that is a trigger for resistance, but the idea is the same.

At the moment you seem to be getting a good amount of feedback, so I don't see an immediate need to switch this thread to the Rebuilding Forum.  At some point after you have made some progress on your own, including reviewing all the suggestions, making progress on implementing them, etc., you may wish to visit the RF and recap his situation and yours in a new thread.

In the meantime, an important question you'll need to address for anyone trying to help you is the one I asked earlier, and to which I didn't see a response.  I wrote:

Do you have a specific end in mind with respect to your husband's scores?  For example, you two might be planning to buy a house in six months.  The more specific the need (and timeframe) the better advice you may get.