she has “unscorable” for all 3 FICOs - add as auth. user?

[lilsprinkles]

Hi everyone, so my mom is in the process of getting divorced from my stepdad. They paid off their mortgage in 2019 and she doesn't have a credit card of her own so she has no history for the last four-ish years. If I add her to one (or more) of my higher limit (12-20K range) cc's will that help her? I read through the posts and I'm going to suggest she apply for the Savor One and also get a secured card. Anything else I can do to help her? I'm mid-40s and she's 69, she gets social security but no 401K/pension. She's going to need a new (but used) car and a place to live. Any advice appreciated. 

[800wannabe420]

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@lilsprinkles wrote:

Hi everyone, so my mom is in the process of getting divorced from my stepdad. They paid off their mortgage in 2019 and she doesn't have a credit card of her own so she has no history for the last four-ish years. If I add her to one (or more) of my higher limit (12-20K range) cc's will that help her? I read through the posts and I'm going to suggest she apply for the Savor One and also get a secured card. Anything else I can do to help her? I'm mid-40s and she's 69, she gets social security but no 401K/pension. She's going to need a new (but used) car and a place to live. Any advice appreciated. 

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@lilsprinkles 

I think adding your mother as an AU to your NFCU More Rewards CC could be beneficial. Many lenders discount AU accounts but Navy does not 🙂

Once your mother has established membership, if she hasn't already, she could apply for a Navy Cash Rewards CC after moving her social security direct deposit to NFCU. 

If denied, she should be able to use the same HP for the NFCU secured nRewards CC which becomes eligible to graduate to an unsecured CC. 

After 6 months or so after receiving her 1st card, she could apply for the Savior One  from Capital. 

Once she becomes scorable, the paid mortgage should be reflected on her reports assuming she was listed on the mortgage loan. 

[JoeRockhead]

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@lilsprinkles wrote:

Hi everyone, so my mom is in the process of getting divorced from my stepdad. They paid off their mortgage in 2019 and she doesn't have a credit card of her own so she has no history for the last four-ish years. If I add her to one (or more) of my higher limit (12-20K range) cc's will that help her? I read through the posts and I'm going to suggest she apply for the Savor One and also get a secured card. Anything else I can do to help her? I'm mid-40s and she's 69, she gets social security but no 401K/pension. She's going to need a new (but used) car and a place to live. Any advice appreciated. 

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Yes, adding her as an AU to a couple of your cards (that see low reported balances in relation to the CL) will help populate a score for her. If they are older cards, it will be better for her AAoA as well. NFCU as suggested is an excellent choice. Once she has a decent score, the best thing would be for her to only get 2 cards on her own and build her credit with those for about 6 months before adding any more credit cards.

NFCU pre-approvals are notoriously unreliable though so the nRewards might be the smart move there to start off with. Discover and Cap 1 are also generally new file friendly. best of luck to your mom.