They had scores in the 800s yet they never added me as an authorized user. When I asked in back in my teenage yeears for them to add me they said I should get my own card at 18 because building it up on my own would be faster. I always knew they should have added me as an authorized user so when I do turn 18,it would be easier to get my own credit card but I didn't argue with them. I found a job when I started college.One my 18th birthday, I immediately applied for Captial One Journey and Discover student both of which were rejects. I was so dsitraught and desperate that I applied for an unsecured credit card from my local credit union. It turns out that my credit union has a 2 star review and is extraordinarily incompetant. I couldn't even see what rewards were offered by secu student card unless I got my credit card only to find out later that I had to spend a decent amount with my credit card before I could see any of the redeemable point awards. Thankfully I was wise enough to read about the trash reviews of aspire visa credit card before I spent anything on it. Had I spent anything on that card, I would have surely died because no one survives a company that can't record payments. 2 days later I managed to apply and get accepted for discover secured without another inquiry and it's been my primary credit card ever since. So far my 3 month old credit score on Vantage is 659 and I can't wait to get my first FICO score. Part of the reason it's so low was because my credit union managed to add 3 new accounts and 1 inquiry to my FAKO score despite only providing one trash card I never use. I would surely have a score in the 700s had it not been for those unecessary accounts as indicated my creditwise simulator. In fact my first creditwise score was 709 before the incompetant secu managed to enter their credit card data into the system.
Had my parents provided me Authorized User, I probably would of been accepted for the journey and student discover and have had a much higher score right now. Anyone else resentful their parents never gave them Authorized User status?
Starting Score: Ex08-732,Eq08-713,Tu08-717
@bdhu2001 wrote:No. That's ridiculous. You don't need a bunch of credit at 18 and you need to figure out how to use it properly. If you're responsible, it won't take long for your scores to move up. By the time you truly need credit, you'll have built up your history. In 6 months to 1 year, apply for a shared secured loan so that you'll have an installment loan on your record. A lot of people, in this forum, use Alliant Credit Union.
You resent people if they harm you or do something to you. Some, even parents, not giving you your way doestn't qualify. I added my kids as AUs, but they were in their late 20s early 30s and I understood more about AUs & how it works. Prior to being on myFICO I was truly afraid of them running up my credit cards.
I need to get a card in 2 years and car insurance depends on credit score. That's why it's essential to get as high a credit score as possible during the 2 years I have. I also need to get my lifelong credit cards ike chase freedom and citidouble cash at least 2 years before I buy a house so that their inquiries don't raise my loan. My situation isn't good at all.My parents really shouldn't be afraid of me because I was always responsible with finance. What would I be loaning for my shared secured loan?
@tacpoly wrote:
You can easily establish your own credit. It just takes some time making sure you never miss any payments. The cool thing about being 18 is that you have bucketloads of time. Use your Discover for things you need and pay it full everytime. You'll have a great credit score soon enough.
So stop blaming your parents. Stop blaming your credit union -- if they really suck as much as you say, take your money elsewhere. Stop blaming your Aspire Visa credit card -- if it's really that bad, close it. Stop being so negative. You're too young to be bitter -- life hasn't even kicked you in the teeth yet.
My time is not abundant at all. I have so many credit related things I must accompish before I graduate. I need to get a card in 2 years and car insurance depends on credit score. That's why it's essential to get as high a credit score as possible during the 2 years I have. I also need to get my lifelong credit cards ike chase freedom and citidouble cash at least 2 years before I buy a house so that their inquiries don't raise my loan.
@Subexistence wrote:
@tacpoly wrote:
You can easily establish your own credit. It just takes some time making sure you never miss any payments. The cool thing about being 18 is that you have bucketloads of time. Use your Discover for things you need and pay it full everytime. You'll have a great credit score soon enough.
So stop blaming your parents. Stop blaming your credit union -- if they really suck as much as you say, take your money elsewhere. Stop blaming your Aspire Visa credit card -- if it's really that bad, close it. Stop being so negative. You're too young to be bitter -- life hasn't even kicked you in the teeth yet.
My time is not abundant at all. I have so many credit related things I must accompish before I graduate. I need to get a card in 2 years and car insurance depends on credit score. That's why it's essential to get as high a credit score as possible during the 2 years I have. I also need to get my lifelong credit cards ike chase freedom and citidouble cash at least 2 years before I buy a house so that their inquiries don't raise my loan.
Couple of random points.
I'd be way more worried about the APR on the auto loan than insurance rates, and scores (if they're even used at all, California flatly forbids the pulling of credit for an insurance decision for example, your state might be similar as so much of this is state by state both for banking and insurance) are going to not affect prices as much as your being ~20 at the time.
So your local CU is suboptimal or maybe you didn't ask the right question if you put 2K down on a Discover secured card according to your other thread. Unlike what some other poster in said other thread said, if you have cash laying around I don't know why you don't shortcut things with a couple quality secured cards and secured loan reindeer games... other than student cards most unsecured starter cards kinda sorta suck and the lenders that issue them have no upside longer term.
Citi DC is on the downswing in popularity and 2% is so common today I'd caution against anyone making that a goal card. Also products do get changed and cancelled, focus more on lenders than individual products (which is something I had to remember yesterday when it came to my recent Chase Sapphire Reserve fun).
Inquiries only affect score for a year, as long as you're inquiry free for the 12 months leading up to a mortgage you're as clean as possible.
Finally, it is not your parents fault they didn't add you as an AU, hardly anyone really does: the state of credit education in the United States (and probably everywhere else too) is simply abysmal. That's the bigger problem. I'm starting to think I won't ever have children but if I did, and on the assumption I educated them about credit (which would certainly be on the table) I'd add them as an AU sure, but it's not that big of a deal as you think if you have a couple years of runway... couple tradelines can get you to an 800 FICO 8 score in 2 years; that won't be your underwriting hurdle.
Dude, you sound like a little kid throwing a tantrum. Resenting a parent is reserved for deep psychological and emotional scarring, the kind that involves incarceration and prison time.
What I tell my children:
Your entitled to 4 things:
1- food
2- clothing
3- shelter
4- medical attention
Anything else you get is a privilege!
Parents are obligated to keep you alive, feed you, clothe you, put a roof over your head, keep you safe, and make sure you go to school. That's it.
If they did that and were kind and loving to you...then you are extremely blessed!
EXPECTING things above and beyond that is ridiculous. You should only be grateful for anything else they give you.
Take responsibility for your actions. When you get a credit card, make sure you understand all the terms. Read the paperwork they send you as well as the website. Call for clarification. If you don't like the terms, close the accounts and double check they are closed and not continuing to charge you any fees.
