I have tried all of these services to take unknown items off my credit history but it is not possible! I am sick and tired of applying for all these offers and not getting accepted ANYWHERE... Secured card is bullshit. Is there anywhere I can co-sign with my parents - And get a credit card based that if I don't pay... They will... But that reports for me??
Become an authorized user (AU) on one or two of your parents credit cards if they will let you (assuming they would co-sign, they should do this). Make sure you do this on cards that will report to the CRA's. You will get a boost from your parents credit, and you will reap the benefits of their past credit history. Just have one of them call the CC company and have an AU added to their card and you will be on your way. I am not aware of any credit cards that allow co-signers. Not that it doesn't exist somewhere, I just have not heard of any. -Peace, Dave
"JOINT" account...one of your parents as FIRST applicant...you as SECOND... You can also use the TOTAL HOUSEHOLD INCOME on some credit cards...(add everybody in the house to your income)... Try AU...see above
So... just by me being an "AU" on someones (anyones?) card my credit rating will go up? I'm sure I can ask my parents to add me as an "AU" to all of there credit cards, and even my grandmothers. After doing this, even with some negative stuff on my credit I should be able to go to any decent credit card offer, filing either my parents as the main applicant or my grandmother and me as a co-aplicant... And using this card will report to my credit? When the credit card is a "joint" card and I am the secondary user or co-applicant is this the same as being an "AU" on the card, or is it better? I'm sure my parents/whoever can always get a credit card, and request an additional card with my name on it and I can use that - But I know it won't earn the best credit for me... If my parents have a credit card, with me as an "AU" and request another card with my name on it - By me using that card with my name on it - Does that report better to my credit? Is that the only way it reports to my credit? I'm not looking for anything crazy, I want 2,000 tops on a credit limit - Think this is possible?
Some banks offer "young adult" cards or something similar...these are cosigner cards. The underwriting is done based on the cosigner's credit. Check at your local bank and ask what types of credit card products they offer.
I've asked around about this - Everyone looks at me like I am crazy. Seriously, the people that work in the banks by me... know nothing. I once said "btw, I don't have the best credit and I wanted to sign up for a credit card jointly with my grandmother so I can earn credit" "I don't understand" .......... trying to explain...... "I still don't understand" Have a nice day!!!
The one thing that has not yet been laid out for this poster is the fact that yes, AU and such CAN increase your scores BUT we know nothing about what is currently on the poster's credit reports right now. If these "unknowns" are nasty, AU isn't gonna help a whole lot.
If their credit is positive (no derogatory info), you will be better off. Your score GOING up is another issue. That depends on what your report looks like. Assuming you have no negative info, then your score will probably go up. And it will definitely go up over time, if you maintain a good payment history from that point on. The AU card will report to your credit profile (as long as the card reports to the CRA's - you need to find out, some don't). I am not sure whether an AU and Joint cards will be the same benefit, the joint card may be slightly better but an AU might not pull a hard inquiry...try one of each if your parents/grandmother are willing. An AU card, your parents are still the responsible payee, on a joint card, each of you are equally responsible, so you need to determine what your best situation is for paying the charges off each month. Yes it is possible, keep in mind though that your credit information will also be duplicated on their account, so if you get a joint card and YOU are responsible for paying...you'd better keep the card current and in good standing, or you may adversly affect your folks credit. Make sure if you get a $2000 card, you can afford to pay off the charges!! -Peace, Dave
If you are an AU, it is not technically supposed to even be on your credit report, but we all know the credit bureaus ignore that. I would ignore authorized user situations, if it were me. ALL credit cards do joint accounts, and from my own experience having someone open an account with me 3 months after a BK, they only care that ONE person's credit is good. The credit card was a 5.4% intro gold card unsecured. Fleet, to be specific. I still have it after 6 years.
