Helping a sibling establish credit with nfcu

[AverageJoesCredit]

I want to be part of Gmood1's family

[Gmood1]

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@AverageJoesCredit wrote:
I want to be part of Gmood1's family

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You already are my friend!😉

[Gmood1]

Just an update. I had my nephew to try and pull his reports. The two accounts I added him to have already activated his CRs!! 

I added him around Christmas last year. This is what two AU accounts does for someone with no credit history.

[kugel]

Wow that’s a big boost
Besides the AU accounts what else he has ?
How old is the accounts u added him ?

[kugel]

Does it make a diff how many acts I add him ? The more is better I add 2 so far

[Gmood1]

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@kugel wrote:
Wow that’s a big boost
Besides the AU accounts what else he has ?
How old is the accounts u added him ?

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That's all he has are the two accounts I gave him.

One is almost 12 years old and the Navy account is 38 months old.

That's it.

Two revolving accounts is enough. He can add his own CCs after that.

Also a shared secured loan will boost the scores further temporarily.

The age of the accounts is what makes the most difference. The number of accounts doesn't have a positive impact. It will lower his AAoA.

[kugel]

I wonder just for my sibling to apply for the nfcu membership should he wait first wait for the score to generate? After my 2 AU will reflect Or it doesn’t really Make a diff since it’s not a cc


How’s penfed with beginners?

[AverageJoesCredit]

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@Gmood1 wrote:

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@AverageJoesCredit wrote:
I want to be part of Gmood1's family

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You already are my friend!😉

WOOHOO!!!😁🆑️I TIME!!

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[Gmood1]

Probably doesn't matter with Navy. He can join now. Just wait till scores jump before apping.
Penfed is a little tougher. They like credit history. I'd wait until he has no less than one year of credit history before tangling with Penfed.

[kugel]

Btw u said u add him Christmas last year i assume it’s 2 months ago ? Am I correct