My credit is not great (~525-600) and my wife's credit is non-existant. We want to built my wife's credit, but she tried to apply for a few cards and with no credit history she was declined. With my credit the way it is I don't think she can apply for a new card with me as a cosigner, so we were planning to go with a secured card. I recently came across a few messages on here that suggested adding someone as an authorized user on an account to get a TL on their credit report. I took a look at my credit report and came across two possibilities. The first is my Orchard mastercard. I've had this card since November of 2001 and have a never late history on it. I think we'll definitely do this one. The other is a Cross Country Bank Visa. I've had that card since 1996 and have two 30 day lates on it both in 2000. The Cross Country has a longer history and a higher credit limit, but it does have the two lates. I'm wondering if it would be better not to add it because of the lates or if you think that the additional TL, the longer history, and the higher credit limit would outweigh the lates? Thanks much, Brett
2 late payments on "AU" vs. NO HISTORY...take the "AU" with the 2 late payments!!! 0 vs. 525-600??? NO BRAINER
Ask to her father, brother or whatever with a good credit to add her as an authorized from 2 Prime cards. use her SS# and D of Birth. Actually He/She has not to give the card just authorized her. Then wait a couple of months and apply for an easy retail card like Mobil, Target or Macys. Then wait a couple of months more and apply for a Visa/MC like Target Visa, HouseHold, Providian, or Amex delta/Starwood. Be aware with the # of inquires.
Make sure the bank reports it to the CRA. Bank America recently told me that they don't report AU's to the CRA's. Has nayone heard of this?
