Low CLs

[Anonymous]

---

UnderEstimated wrote:

Here's the case, I'm 20 years old so all of my accounts have under 3 years of credit history.  My history contains those credit cards, all of them are unsecured, 1 car loan of $15,900 paid as agreed & in full, and 1 car loan of $28,000 that is currently still open and paid as agreed.

My FICO scores with as of this month are in the 650s with TransUnion & Experian but 626 with Equifax. 

No baddies on my report, utilization is around 18% right now (working towards 9%), and still working on improving those scores.  When I get denied credit, or denied for a lower interest rate, the primary reason I hear is insufficent credit history.

---

Do you have a parent or relative with stellar credit?  They may be willing to add you as an AU.  That could instantly give you more years of history. [oh no, I've started the dreaded AU discussion again ...]

[Anonymous]

No immediate family member has great credit, but that AU sounded like a good idea.  My parents went through a BK in 1995 when they both lost their jobs.  We were living well, since my parents made a combined income of over $200K a year.  Well, long story short, they lost their jobs, lost the house, cars, then had to file for BK.  12 years later, they're still managing to rebuild their credit.  I feel terrible for anyone who goes through a BK because even though it disappears off your credit in 10 years, you're still left to rebuild. 

So it's been my motivation to manage myself and build good credit from the start.

[Anonymous]

---

UnderEstimated wrote:

No immediate family member has great credit, but that AU sounded like a good idea.  My parents went through a BK in 1995 when they both lost their jobs.  We were living well, since my parents made a combined income of over $200K a year.  Well, long story short, they lost their jobs, lost the house, cars, then had to file for BK.  12 years later, they're still managing to rebuild their credit.  I feel terrible for anyone who goes through a BK because even though it disappears off your credit in 10 years, you're still left to rebuild. 

So it's been my motivation to manage myself and build good credit from the start.

---

Sounds like you've done a great job!

You can be an AU on anyone's account; it doesn't have to be an immediate family member.  It just should be someone with a perfect history on that account whom you trust will continue that history.

 ETA: Just make sure to have the cardholder ask the credit card issuer if they will report you also.  It doesn't always happen if the AU isn't family.

Message Edited by masdeocho on 05-16-2007 06:18 PM

[smallfry]

---

@Anonymous wrote:

---

@Anonymous wrote:

Here's the case, I'm 20 years old so all of my accounts have under 3 years of credit history. My history contains those credit cards, all of them are unsecured, 1 car loan of $15,900 paid as agreed & in full, and 1 car loan of $28,000 that is currently still open and paid as agreed.

My FICO scores with as of this month are in the 650s with TransUnion & Experian but 626 with Equifax.

No baddies on my report, utilization is around 18% right now (working towards 9%), and still working on improving those scores. When I get denied credit, or denied for a lower interest rate, the primary reason I hear is insufficent credit history.

---

Do you have a parent or relative with stellar credit? They may be willing to add you as an AU. That could instantly give you more years of history. [oh no, I've started the dreaded AU discussion again ...]

---

I can't blame someone for taking advantage of the system if it is their best interests.I think I'm the only one here who thinks this is a slap in the face of people who are trying to build credit through their own hard work. Something stinks about it.

[Anonymous]

---

smallfry wrote:

I can't blame someone for taking advantage of the system if it is their best interests.I think I'm the only one here who thinks this is a slap in the face of people who are trying to build credit through their own hard work. Something stinks about it.

---

No, I happen to agree w/you.

[smallfry]

---

@Anonymous wrote:

---

@smallfry wrote:

I can't blame someone for taking advantage of the system if it is their best interests.I think I'm the only one here who thinks this is a slap in the face of people who are trying to build credit through their own hard work. Something stinks about it.

---

No, I happen to agree w/you.

---

Disputing as not mine. Now that's a different story. LOL.