Hello everyone my name is Blair. I'm new to the forum, but the reason i'm here is since i was a kid i was given Dave Ramsey books it has installed some really good values but i believed i never needed a credit card(until now). I got married in October but i have never financed anything before I've always paid cash for cars0. This weekend i went to a dealership and picked out a brand new car my wife wanted. That is well within my budget, when it was time to talk credit i found out i have a score of 773 apparently great right? well I'm named after my father and we were also born in the same month. My credit report show i've financed a bunch of cars had a couple mortgages. They have all been paid for but i guess it is throwing up red flags to the banks. i guess its time to get a credit card and try to build some credit. I would really appreciate any advice. Thank you
Is your father's birth date listed on your reports as well? If these are paid/closed accounts, none should pre-date a decade ago (positive trade lines will sit on your reports for 10 years after its last activity) and (unless you're in your early-mid 20's) I wouldn't think would throw any red flags as you said. With a 773 FICO, you should be able to qualify for any credit card you want; but what's going on here is really just an alternative way of being an authorized user (when you piggyback on someone else's account)..... are there any revolving accounts of his reporting for you as well? THOSE for sure he can simply add you as an AU and get the account reporting correctly. And likely at this stage you could qualify for most credits in your own name without there being a barrage of questions from the creditor. If you simply want the installment loans off your reports, you could start with a simple dispute to the CRAs as 'not mine' and adding the detail about your father (name, DOB month, etc) should make the process easy.
There's your red flag. A 25 year old with a paid off mortgage that shows open 19xx. I would work on getting those removed first. You can get a free credit report from each CRA here: https://www.annualcreditreport.com/cra/index.jsp
