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Credit Report
Posted on 4/18/14 at 4:31 pm
Posted on 4/18/14 at 4:31 pm
My wife has terrible credit and i'm working with her to get it improved. I think the first step is opening up a credit card in her name to get some good credit. I want to open the card under my name and then have her on the acct as well with her own card. If she is the secondary cardholder, will that still improve her credit or will everything just go against my credit?
Anyone ideas on other ways to improve credit over the next 1-3 years?
Anyone ideas on other ways to improve credit over the next 1-3 years?
6
Posted on 4/18/14 at 5:55 pm to CHiPs25
quote:
Anyone ideas on other ways to improve credit over the next 1-3 years?
She needs to start paying her bills on time. I mean that quite seriously, because if she doesn't then when you
quote:
open the card under my name and then have her on the acct as well
your credit will be in the shitter too.
Posted on 4/18/14 at 7:13 pm to CHiPs25
quote:
My wife has terrible credit and i'm working with her to get it improved. I think the first step is opening up a credit card in her name to get some good credit. I want to open the card under my name and then have her on the acct as well with her own card. If she is the secondary cardholder, will that still improve her credit or will everything just go against my credit?
My current SO and I are pretty damn serious, and one of my biggest complaints about her is she's an idiot with her credit.
Now she's not one of those people who maxes out cards and whatnot, but she's still stuck in that "credit is the devil" mindset you're supposed to have when you're like 17 and a dumbass.
I try to tell her to start using it, but she refuses. She says she's worried about forgetting to make the payment so I told her to setup AutoPay, and it's basically the exact same thing as a debit card you just pay it a month later.
She still doesn't comprehend this, and it's driving me fvcking CRAZY
!Posted on 4/18/14 at 9:31 pm to FootballNostradamus
foshizzle my nizzle, I would pay the credit card to ensure that it's always paid on time. As a matter of fact, i've taken over paying all bills so they are never late again. My credit is in the mid 700's and I think her's is probably at best in the low 600's.
Posted on 4/18/14 at 9:32 pm to FootballNostradamus
quote:
My current SO and I are pretty damn serious,
I wish I would have corrected this behavior prior to getting married to her. If that's in your plans, it something that you need to get taken care of.
Posted on 4/19/14 at 8:49 am to CHiPs25
You freely admit that your wife has terrible credit and so your brilliant idea is to either open more credit lines with her as you being the primary cardholder or add her to your existing open accounts?
Have you given this any serious thought as to how ridiculous this reads when typed out?
Have you given this any serious thought as to how ridiculous this reads when typed out?
This post was edited on 4/19/14 at 8:51 am
Posted on 4/19/14 at 10:07 am to Will Cover
quote:
Have you given this any serious thought as to how ridiculous this reads when typed out?
The credit card would be used for household bills and groceries only. The card would be controlled by yours truly but would have her name on it in order to build up her credit. She wouldn't even have the actual card with her, it would stay with me.
Thanks for judging.
Posted on 4/19/14 at 3:41 pm to CHiPs25
quote:
The card would be controlled by yours truly but would have her name on it in order to build up her credit. She wouldn't even have the actual card with her, it would stay with me.
The simple fact of the matter is that if you can't trust your wife, your life partner with taking possession of your credit card, could indicate that you have a trust issue when dealing with her decision making process.
Posted on 4/19/14 at 4:19 pm to Will Cover
dr. phil in the house.
Posted on 4/19/14 at 4:55 pm to CHiPs25
instead of opening new lines of credit under your name (adding inquiries and lowering your AAoA) just add her as an authorized user on 1 or 2 of the cards you already have. She can "piggyback" off of your credit reporting. Other than that, get her to get a secured card in her name only, even if its only 300 bucks, that way your name is nowhere near it. Credit takes 10 minutes to F up and years to repair, be careful man
Posted on 4/19/14 at 5:49 pm to Wet Bandit
quote:
instead of opening new lines of credit under your name (adding inquiries and lowering your AAoA) just add her as an authorized user on 1 or 2 of the cards you already have. She can "piggyback" off of your credit reporting. Other than that, get her to get a secured card in her name only, even if its only 300 bucks, that way your name is nowhere near it. Credit takes 10 minutes to F up and years to repair, be careful man
I kind of agree with this (and I am a huge proponent of married couples having joint finances). Unless you believe your wife's behavior will be different going forward, be very careful about being a co-borrower with her.
Posted on 4/19/14 at 7:03 pm to CHiPs25
Opening the card under her name will affect her credit more than having her as a secondary cardholder on your account.
Posted on 4/19/14 at 7:07 pm to ZereauxSum
quote:
I kind of agree with this (and I am a huge proponent of married couples having joint finances). Unless you believe your wife's behavior will be different going forward, be very careful about being a co-borrower with her.
I forgot to mention, if you do make her an authorized user, keep her card to yourself, or else.....
Posted on 4/19/14 at 10:10 pm to CHiPs25
Paying on time and using credit responsibly as the primary. Should snowball in to decent credit.
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