@TravelNut wrote:
@SoCalGardener wrote:Two things: why are *you* opening accounts for your wife? Is she incapacitated or something? Just wondering, because women historically have not managed credit, then ended up lost when their husband died or left. I'm curious why she isn't dealing with her own credit.
Two, and this will get lots of backlash!, having a loan is *not* necessary for a good credit score. I mean 'good' as in EXCEPTIONAL, like mine. I never have loans, and my scores are always in the800ss. I recently took anAmexx offer for a low-APR loan just for the hell of it, to do my own research on how or if it ultimately affects my scores. But, normally, I have nothing but credit cards and I'm fine. This whole 'you MUST have an installment loan for a good credit mix!' is simply not true. Or else I'm some kind of anomaly.
SoCalGardenerr I've gotten my wife and i from the high 500's to the high 700's in 2 yrs and have shown her how I've done it every step of the way. I have traditionally managed our money and credit and am always very transparent in what I'm doing and why. She manages the house and shows me from time to time how to run the Washer/Dryer and vacuum incase she kicks off and I'm left to my own devices. So it has worked well the last 20 yrs
On your second point, she has been stuck in the 770's to 780's acrosss the board for like 12 months and the only thing I could see is that she only has revolving debt on her file and nothing else so I thought I would try this and see what happens over the next year.
I'm sorry, but I actually had to check my calendar to verify what millennium we're in.... Your description of your household duty split sounded straight out of "I Love Lucy!" 
I'm sure you believe you're being very transparent and everything, and I'm not doubting that you are, but I just feel very strongly that women need to handle their own credit. We taught our daughter how to use credit, how to write checks and balance a checkbook, how to pay credit card bills, etc.--when she was a child. I'm happy to say that she, independent of her husband, has very high credit scores and history. If either one of them suddenly got laid up, they'd be fine as far as managing their bills, as they *both* participate.
As for her scores being stuck in the high 700s, that's something that will improve with better data points. Whatever it is that's keeping her scores down needs to be worked on, then the scores will go up. Why not work on this as a joint project--with her taking the lead? Since you apparently know more about credit than she does, you can guide her, stop her from making some egregious mistake, but let her learn! You're really not doing her any favors by single-handedly improving her scores; if you were suddenly gone, she'd need to know how to do that on her own. Regarding the loan, since it's already a done deal this doesn't matter much, but it wasn't necessary to bring her scores up. As I always say, I never have loans and my scores definitely don't suffer as a result!
@SoCalGardener wrote:
@TravelNut wrote:
@SoCalGardener wrote:Two things: why are *you* opening accounts for your wife? Is she incapacitated or something? Just wondering, because women historically have not managed credit, then ended up lost when their husband died or left. I'm curious why she isn't dealing with her own credit.
Two, and this will get lots of backlash!, having a loan is *not* necessary for a good credit score. I mean 'good' as in EXCEPTIONAL, like mine. I never have loans, and my scores are always in the800ss. I recently took anAmexx offer for a low-APR loan just for the hell of it, to do my own research on how or if it ultimately affects my scores. But, normally, I have nothing but credit cards and I'm fine. This whole 'you MUST have an installment loan for a good credit mix!' is simply not true. Or else I'm some kind of anomaly.
SoCalGardenerr I've gotten my wife and i from the high 500's to the high 700's in 2 yrs and have shown her how I've done it every step of the way. I have traditionally managed our money and credit and am always very transparent in what I'm doing and why. She manages the house and shows me from time to time how to run the Washer/Dryer and vacuum incase she kicks off and I'm left to my own devices. So it has worked well the last 20 yrs
On your second point, she has been stuck in the 770's to 780's acrosss the board for like 12 months and the only thing I could see is that she only has revolving debt on her file and nothing else so I thought I would try this and see what happens over the next year.
I'm sorry, but I actually had to check my calendar to verify what millennium we're in.... Your description of your household duty split sounded straight out of "I Love Lucy!"
I'm sure you believe you're being very transparent and everything, and I'm not doubting that you are, but I just feel very strongly that women need to handle their own credit. We taught our daughter how to use credit, how to write checks and balance a checkbook, how to pay credit card bills, etc.--when she was a child. I'm happy to say that she, independent of her husband, has very high credit scores and history. If either one of them suddenly got laid up, they'd be fine as far as managing their bills, as they *both* participate.
As for her scores being stuck in the high 700s, that's something that will improve with better data points. Whatever it is that's keeping her scores down needs to be worked on, then the scores will go up. Why not work on this as a joint project--with her taking the lead? Since you apparently know more about credit than she does, you can guide her, stop her from making some egregious mistake, but let her learn! You're really not doing her any favors by single-handedly improving her scores; if you were suddenly gone, she'd need to know how to do that on her own. Regarding the loan, since it's already a done deal this doesn't matter much, but it wasn't necessary to bring her scores up. As I always say, I never have loans and my scores definitely don't suffer as a result!
Just call me Ricky!
@SoCalGardener wrote:
@TravelNut wrote:
@SoCalGardener wrote:Two things: why are *you* opening accounts for your wife? Is she incapacitated or something? Just wondering, because women historically have not managed credit, then ended up lost when their husband died or left. I'm curious why she isn't dealing with her own credit.
Two, and this will get lots of backlash!, having a loan is *not* necessary for a good credit score. I mean 'good' as in EXCEPTIONAL, like mine. I never have loans, and my scores are always in the800ss. I recently took anAmexx offer for a low-APR loan just for the hell of it, to do my own research on how or if it ultimately affects my scores. But, normally, I have nothing but credit cards and I'm fine. This whole 'you MUST have an installment loan for a good credit mix!' is simply not true. Or else I'm some kind of anomaly.
SoCalGardenerr I've gotten my wife and i from the high 500's to the high 700's in 2 yrs and have shown her how I've done it every step of the way. I have traditionally managed our money and credit and am always very transparent in what I'm doing and why. She manages the house and shows me from time to time how to run the Washer/Dryer and vacuum incase she kicks off and I'm left to my own devices. So it has worked well the last 20 yrs
On your second point, she has been stuck in the 770's to 780's acrosss the board for like 12 months and the only thing I could see is that she only has revolving debt on her file and nothing else so I thought I would try this and see what happens over the next year.
I'm sorry, but I actually had to check my calendar to verify what millennium we're in.... Your description of your household duty split sounded straight out of "I Love Lucy!"
I'm sure you believe you're being very transparent and everything, and I'm not doubting that you are, but I just feel very strongly that women need to handle their own credit. We taught our daughter how to use credit, how to write checks and balance a checkbook, how to pay credit card bills, etc.--when she was a child. I'm happy to say that she, independent of her husband, has very high credit scores and history. If either one of them suddenly got laid up, they'd be fine as far as managing their bills, as they *both* participate.
As for her scores being stuck in the high 700s, that's something that will improve with better data points. Whatever it is that's keeping her scores down needs to be worked on, then the scores will go up. Why not work on this as a joint project--with her taking the lead? Since you apparently know more about credit than she does, you can guide her, stop her from making some egregious mistake, but let her learn! You're really not doing her any favors by single-handedly improving her scores; if you were suddenly gone, she'd need to know how to do that on her own. Regarding the loan, since it's already a done deal this doesn't matter much, but it wasn't necessary to bring her scores up. As I always say, I never have loans and my scores definitely don't suffer as a result!
?
They aren't here for marriage counseling or to be scolded.
You do what works for you, and let others do what works for them.
Also, let's remember that "gender" in MyFico Terms of Service referes to instances like these. Gender roles discussion is not going to continue.
Thank you
@Remedios wrote:
@SoCalGardener wrote:
@TravelNut wrote:
@SoCalGardener wrote:Two things: why are *you* opening accounts for your wife? Is she incapacitated or something? Just wondering, because women historically have not managed credit, then ended up lost when their husband died or left. I'm curious why she isn't dealing with her own credit.
Two, and this will get lots of backlash!, having a loan is *not* necessary for a good credit score. I mean 'good' as in EXCEPTIONAL, like mine. I never have loans, and my scores are always in the800ss. I recently took anAmexx offer for a low-APR loan just for the hell of it, to do my own research on how or if it ultimately affects my scores. But, normally, I have nothing but credit cards and I'm fine. This whole 'you MUST have an installment loan for a good credit mix!' is simply not true. Or else I'm some kind of anomaly.
SoCalGardenerr I've gotten my wife and i from the high 500's to the high 700's in 2 yrs and have shown her how I've done it every step of the way. I have traditionally managed our money and credit and am always very transparent in what I'm doing and why. She manages the house and shows me from time to time how to run the Washer/Dryer and vacuum incase she kicks off and I'm left to my own devices. So it has worked well the last 20 yrs
On your second point, she has been stuck in the 770's to 780's acrosss the board for like 12 months and the only thing I could see is that she only has revolving debt on her file and nothing else so I thought I would try this and see what happens over the next year.
I'm sorry, but I actually had to check my calendar to verify what millennium we're in.... Your description of your household duty split sounded straight out of "I Love Lucy!"
I'm sure you believe you're being very transparent and everything, and I'm not doubting that you are, but I just feel very strongly that women need to handle their own credit. We taught our daughter how to use credit, how to write checks and balance a checkbook, how to pay credit card bills, etc.--when she was a child. I'm happy to say that she, independent of her husband, has very high credit scores and history. If either one of them suddenly got laid up, they'd be fine as far as managing their bills, as they *both* participate.
As for her scores being stuck in the high 700s, that's something that will improve with better data points. Whatever it is that's keeping her scores down needs to be worked on, then the scores will go up. Why not work on this as a joint project--with her taking the lead? Since you apparently know more about credit than she does, you can guide her, stop her from making some egregious mistake, but let her learn! You're really not doing her any favors by single-handedly improving her scores; if you were suddenly gone, she'd need to know how to do that on her own. Regarding the loan, since it's already a done deal this doesn't matter much, but it wasn't necessary to bring her scores up. As I always say, I never have loans and my scores definitely don't suffer as a result!
?
They aren't here for marriage counseling or to be scolded.
You do what works for you, and let others do what works for them.
Also, let's remember that "gender" in MyFico Terms of Service referes to instances like these. Gender roles discussion is not going to continue.
Thank you
Thank you!