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Need advice to help my son get a credit score

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Established Contributor

Need advice to help my son get a credit score

My son is trying to get into paramedic school.  He doesn't qualify for financial aid.  I plan on helping him pay for a student loan.  The problem is, I tried to pay for his credit scores and got a message that basically said he doesn't have a score.  I have his credit reports and there are a few things on it - closed mortgage & auto loan and kay jewelers.  The condo was sold after he and his fiance split up.  His latest was the auto loan.  His "father" apparently paid that off for him in August.  His equifax is clean (no baddies or lates).  His TU has one collection from 2009 (which we knew about).

 

Any idea why we can't pull scores??  Should I add him as an AU on one of my accounts to "wake up" his records?  He has enough prior history and AAoA that he can probably get his own credit, ifi they can pull something.  

Nov 2014 Starting credit score TU 598; EQ 602; Ex 614; Sept 2020 TU 779; EQ 783; EX 781
Discover $32k/Citi $10k/Amex $35k/Wayfair $14k/Chase Freedom $13k/NFCU $15k/Amazon $7.5k/sewing & more Synch $11k/Lowes $12k
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Valued Contributor

Re: Need advice to help my son get a credit score


@mimsof4 wrote:

My son is trying to get into paramedic school.  He doesn't qualify for financial aid.  I plan on helping him pay for a student loan.  The problem is, I tried to pay for his credit scores and got a message that basically said he doesn't have a score.  I have his credit reports and there are a few things on it - closed mortgage & auto loan and kay jewelers.  The condo was sold after he and his fiance split up.  His latest was the auto loan.  His "father" apparently paid that off for him in August.  His equifax is clean (no baddies or lates).  His TU has one collection from 2009 (which we knew about).

 

Any idea why we can't pull scores??  Should I add him as an AU on one of my accounts to "wake up" his records?  He has enough prior history and AAoA that he can probably get his own credit, ifi they can pull something.  


That's exactly what you need to do.  Add him to 2 of your cards.  Hopefully since he has somewhat of a file, the added open accts will generate a score more quickly than the standard 6 months that it allegedly takes to generate a score.

 

I added my daugter to 2 cards, and it didn't seem like it took 6 months to get a score from CK at least.

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Established Contributor

Re: Need advice to help my son get a credit score

Thanks racer.  I thought that was going to be the right direction to go but wasn't sure.  In addition to the student loan, he wants to get into NFCU for their auto loans but we have to get him showing a score first .  He said he had a score last summer because he pulled it from CK but when he paid the auto loan off It left him with no open accounts.  I think that is the main issue.

Nov 2014 Starting credit score TU 598; EQ 602; Ex 614; Sept 2020 TU 779; EQ 783; EX 781
Discover $32k/Citi $10k/Amex $35k/Wayfair $14k/Chase Freedom $13k/NFCU $15k/Amazon $7.5k/sewing & more Synch $11k/Lowes $12k
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Super Contributor

Re: Need advice to help my son get a credit score

NFCU has a secured CC, that would serve two purposes, get started with NFCU and trigger the credit reports, for a $500 deposit.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
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