Collections

[SSH0126]

Were those addressed to the president of the company? 

Now if a collection is showing on my report and I made payment and it was accepted to OC where would the GW letter be sent? To the CA or the OC? 

[Anonymous]

If you already have several lines of credit, I would not apply for anything new for either you or your husbad before trying for a loan. I would instead make your husband an AU on your cards. That will help his credit scores (assuming you've paid down those balances) without him incurring any new inquiries.  

[SSH0126]

But if I have late payments previously and high uti then he too will have that as well. I would think that would hurt his score 

[Anonymous]

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@SSH0126 wrote:

But if I have late payments previously and high uti then he too will have that as well. I would think that would hurt his score 

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Exactly. I do not advise using AU accounts except as a last resort to help someone get their cirst account opened.

[IncrsCreditScore1]

I would send one to both.  For the CA, I would send proof that you paid the OC, SSHO126.

[SSH0126]

So I know that he needs three lines. He has student loans but is in school currently so not paying on those. We have one credit card and an auto loan together....so how many secured credit cards should he get? two? 

[Anonymous]

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@SSH0126 wrote:

So I know that he needs three lines. He has student loans but is in school currently so not paying on those. We have one credit card and an auto loan together....so how many secured credit cards should he get? two? 

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He needs three revolving accounts (credit cards) and one installment account (auto, student loan, personal loans). I would apply for an unsecured Capital One card first, before going the secured route.

[SSH0126]

Well he applied for a secured card with capital one previously and was denied.

[Anonymous]

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@SSH0126 wrote:
Well he applied for a secured card with capital one previously and was denied.

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How long ago, and what was his score at that time?

[SSH0126]

So he applied for capital one late last yr as well as a discover secured and was denied for both. I cant remember what the scores were at the time but since we are stilling paying collections off and working on the utilization we were going to wait until the summer or later this yr before applying again.