The piggybacking method?

Discussion in 'Credit Talk' started by author_22, Aug 14, 2001.

  1. author_22

    author_22 Well-Known Member

    I finally convinced my brother to put me as an authorized user on his Discover card ($1000 limit) and Best Buy card ($600 limit) and any other cards he gets. He will immediately take the cards, except for the upcoming clothing ones he will apply for. Since he has seen me, my mom, and my dad suffer credit problems, I am sure he will never fall behind on his payments...he has a lot of restraint but not so much that it won't show we can both manage debts.

    Does this really help scores? In six or more months, will I be in better shape than I am today? I also have a secured Sterling card on the way (I can't return the favor as they don't allow authorized users.) which I will manage well as a religion. And if I apply for Discover in say six months to a year, will they consider my record on my brother's account? Will both of these cards show on my reports? Being an authorized user on my dad's capital one always showed and is now one of my derogs :(

    Any advice is appreciated. They're not my cards, and I'll never use them, but the idea of having 2 unsecured and good tradelines on my reports is exciting :)

  2. sam

    sam Well-Known Member

    you can get authorized user's off your file by complaining to the creditor. Simple removal.

    Why is your credit so bad? Being an AU on any account will not make your bad credit go away. Plain and simple. The requirements to get your own discover will be the same, AU or not.

    You need to clean up your reports, then after all the damage is removed, get some decent intro cards:

    (cap 1 secured or standard)

    If you have no derogs, about 6-8 months of credit history is all it takes to get a Citibank AAdvantage card, which can be promptly turned into a platinum select.

    Someone needs to make a "Tree" A visual guide that shows folks the path to take based on the situation you are in at the moment with a reasonable timeline for actions.

    Dispute, dispute, dispute all your reports, before wasting your time applying for anything else. If thats the only bit of advice you take from me, it will be the one that counts the most. The online dispute forms, work, and with some patience, i've gotten from 14-15 derogs down to 1-2 and i'm working on those.

    After about 15 months (Day 1 being all bad credit, nothing good), i've gone from $0 credit to about $14000 in credit, much of that being prime. Read up here, and you'll be able to do the same with diligent hard work...
  3. author_22

    author_22 Well-Known Member

    Oh, I should have been more clear. I am disputing. I have between 4-5 derogs on each credit report, most are the same 3. They are all under dispute. I have disputed some inquiries and am waiting for the results. I have gotten a secured card and am waiting for it to arrive. I also have current student loans, that I started paying off a few months ago even though I could've waited until November 2002. Trust me, I'm not trying to ignore the bad...but hope it is deleted and I want to add good.


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