@revvystoke wrote:
I applied for a basic bank of america card with the intention of starting some credit with my bank, I was declined and my father is willing to co sign, I only have a year or so of credit history and a banker said if I had some history of credit or other open accounts with them in good standing I would get a better car loan rate. My scores are Ex 628 and TU 632 due to high Util of around 30% and should be paid off to less then 10% within a couple months. The agent online gave me a number to have him added as a cosigner, has anyone done this? I would really hate to put a hit on my report that ended in a denial. This card would be kept with the socks anyway.
Instead of being added as a joint owner on an account which would require an application you might consider being added as an Authorized User. This can help you IF the account is older than any of yours, IF the payment history is long and clean, IF the utilization is very low, and IF it will report to the CRA's. Not all cards will do this. You need to ask the company first. You will inherit the entire history of this account. One caveat however; if this account starts to go south your credit will be affected as well. Keep that in mind.
From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work
