How can my excellent credit help my fiance's non-credit?
My fiance can’t seem to get approved for any credit cards and I can’t seem to be denied. How can I get her some credit rolling. I have only called one company and they said they don’t allow co-apps. Do any? and will that work? Any ideas would be appreciated.
You don’t want any joint debt! If she has a job and hasn’t established credit yet, she may want to try First Premier or Orchard. I would try Orchard first. Remember that each app for credit is a ding on credit report (score). You can make her an authorized user on a card which is quite different than being joint. She will be allowed to use the card but not responsible for the payments. The company may or may not report the activity to the credit bureaus. The reasons you don’t want joint credit cards is (1) if you guys break up, you both will be responsible for the joint debts and (2) if you get married. If you buy a house and the deed is in both names (the best protection), creditors (except the mortgage company) can’t "take" the house due to an unpaid balance. Ex.: She owes and defaults on a Capital One debt. They can sue her, but can’t touch the house since it is in both Married names. I could go on and on, but that is the short version. No joint debt.
Melissa F | Nov 07, 2008
Getting her a credit card would be the easiest way I think. Try another company, because there are some out there that do allow co-signers. Good luck!
Nick R | Nov 07, 2008
A lot of banks will let you get a credit card through them if you have an account there. You can start a joint account and get a joint credit card that way. It will show up on her credit report just like it will on yours, and paying it on time will help her get credit on her own in the future.
Serena | Nov 07, 2008
Tags: Approved Apps
Bruce Padilla