Post A8bAkcRYATsJqVcf5c by Jaime@social.quodverum.com
(DIR) More posts by Jaime@social.quodverum.com
(DIR) Post #A8ZmmYrFsSVjFO4yFk by Jaime@social.quodverum.com
2021-06-23T11:41:04Z
0 likes, 0 repeats
Good Morning Quods!My 23 year old son is trying to build credit. He has a JOB, Impressive savings for someone his age.Because we Co- signed for his Jeep he received no credit.He’s applied for cards but gets rejected because no credit history.I called a few banks about the credit cards that you pay off. They don’t have them any more.Any ideas on how to build credit? He keeps receiving mail from Capital one. Sounds sketchy to me. Thank you in advance for any and all advice.
(DIR) Post #A8ZnJIKqKUm5YiWkZE by Debbie742@social.quodverum.com
2021-06-23T11:46:59Z
0 likes, 0 repeats
@Jaime There’s no more pre paid credit cards?
(DIR) Post #A8ZnLbSEDSeNR25AQq by ConnieinVA@social.quodverum.com
2021-06-23T11:47:24Z
0 likes, 0 repeats
@Jaime What about store credit cards? Like Kohl’s, Belk, JC Penney’s. Does Amazon offer credit cards. I remember that’s how I started my credit history as a young adult.
(DIR) Post #A8ZnddTHSJmuu3AnI0 by Gmajv@social.quodverum.com
2021-06-23T11:50:40Z
0 likes, 0 repeats
@Jaime have him go to credit carma and they will offer suggestions on how to get his credit score up & which card works best for him
(DIR) Post #A8ZnojKC27JgF6DFdw by selah18@social.quodverum.com
2021-06-23T11:52:38Z
0 likes, 0 repeats
@Jaime apply for a local store for credit. And he starts there with charging something and paying it off right away.
(DIR) Post #A8Zo13olfLjFHAOSMy by Jaime@social.quodverum.com
2021-06-23T11:54:53Z
0 likes, 0 repeats
@Debbie742 Hi, Not according to a few banks I called.
(DIR) Post #A8Zo4GxrFAF4uzB1fM by Jaime@social.quodverum.com
2021-06-23T11:55:29Z
0 likes, 0 repeats
@ConnieinVA Thank you!
(DIR) Post #A8Zo7YKD9bk3d6CFBw by Jaime@social.quodverum.com
2021-06-23T11:56:04Z
0 likes, 0 repeats
@selah18 Thank you! Someone also mentioned this.
(DIR) Post #A8ZoCryJXEJ40kUPsO by Jaime@social.quodverum.com
2021-06-23T11:57:00Z
0 likes, 0 repeats
@Gmajv Never heard of Credit carma?
(DIR) Post #A8ZoEKfKL0BnIDJ2Po by Jaime@social.quodverum.com
2021-06-23T11:57:17Z
0 likes, 0 repeats
@GeorgiaMAGA Thanks! Reading now.
(DIR) Post #A8ZogvyRDhxh6usprE by wtawtaw_gal@social.quodverum.com
2021-06-23T12:02:28Z
0 likes, 0 repeats
@Jaime There is one possibility that may help, along with other suggestions.There are "secured" credit cards.( oxymoron?)Anyway, yesrs ago a friend put a down payment to CapitalOne bank. $500.00. He used it like a credit card and sent in paynents per statements received. It apparently helped him. If this service still avail, it may be an additional help.Not sure about this day in time.Good luck!
(DIR) Post #A8Zp6Zt5xURE8mc1HE by Cbvheartland2@social.quodverum.com
2021-06-23T12:07:05Z
0 likes, 0 repeats
@Jaime There's something wrong if he's not receiving a score on a co-sign noteCredit card debt automatically goes against your score if it gets to around 10% of the limit So building any Credit score with a Credit card is sorta self defeating A co-sign note at a Bank in his name is his loan and should be rated as such either good or badMost Credit monitoring sites have helpful ideas on building credit and tips on increasing your score After a Divorce I went from 600 to 850 in 3 years
(DIR) Post #A8ZpCrqm5SJTaWWfo0 by Debbie742@social.quodverum.com
2021-06-23T12:08:14Z
0 likes, 0 repeats
@Jaime Wonder when that happened? The realtor told my son to get one to build credit so he could get a better loan rate. But now that I think about it, that was probably 2 years ago before Covid. It’s very hard to get anyone at the bank on the phone around here.
(DIR) Post #A8ZpGT2WH3D7nWjhZY by Ballerina@social.quodverum.com
2021-06-23T12:08:53Z
0 likes, 0 repeats
@Jaime https://www.creditkarma.com/ I use them when this whole divorce fiasco began to discover how much debt my husband put me in @Gmajv
(DIR) Post #A8ZpdqJHvAaud8j3Ng by Jaime@social.quodverum.com
2021-06-23T12:13:06Z
0 likes, 0 repeats
@GeorgiaMAGA I just read the article you sent. Mentions authorized user doesn’t really build credit.
(DIR) Post #A8ZphpsbSmbeSC9FDc by Jaime@social.quodverum.com
2021-06-23T12:13:50Z
0 likes, 0 repeats
@Cbvheartland2 This is what I keep asking. I’m not understanding why either. He paid it.
(DIR) Post #A8ZplIUbXO9u41ZcA4 by Jaime@social.quodverum.com
2021-06-23T12:14:28Z
0 likes, 0 repeats
@Debbie742 I’m not sure. That’s what 2 banks told me.
(DIR) Post #A8Zpne2IPWGVSVS4J6 by Jaime@social.quodverum.com
2021-06-23T12:14:53Z
0 likes, 0 repeats
@Ballerina @Gmajv Thank you!!
(DIR) Post #A8ZpsLrPPl3eXIbUsS by MAJA_4_THETRUTH@social.quodverum.com
2021-06-23T12:15:44Z
0 likes, 0 repeats
@Jaime I’m retired Bank Mgr. Have him go to a bank & discuss CD loans. He would use some or all of his savings, place it in a CD, then borrow with the CD as collateral. He can then use the funds he acquired from the CD loan to make the payments. Usually the CD loan is a few points of interest above what he’s earning in the CD, but if it’s not too large of an amount it’s worth it to build credit. Here’s an article that might help. I would definitely shop credit unions. https://www.investopedia.com/ask/answers/060716/do-certificates-deposit-help-build-credit.asp
(DIR) Post #A8Zq1IKdu1cSCOXfMG by Jaime@social.quodverum.com
2021-06-23T12:17:21Z
0 likes, 0 repeats
@GeorgiaMAGA This is from the article. Other alternatives.He does receive Capitol one mail all the time.
(DIR) Post #A8ZqIE6Qsc900Ny8zA by Jaime@social.quodverum.com
2021-06-23T12:20:24Z
0 likes, 0 repeats
@GeorgiaMAGA 👍 The dealership said he would be building credit when he bought his Jeep, only to find out it never counted.
(DIR) Post #A8ZqO4BEgV52y705jM by Cbvheartland2@social.quodverum.com
2021-06-23T12:21:28Z
0 likes, 0 repeats
@Jaime If it's at a buy here pay here establishment Credit reporting agencies don't recognize those establishments as reputable Most easily obtained Credit isn't even recognized by rating bureaus
(DIR) Post #A8ZqerD0AK2Lf2phVg by Jaime@social.quodverum.com
2021-06-23T12:24:28Z
0 likes, 0 repeats
@Cbvheartland2 That makes sense.
(DIR) Post #A8Zr4iYiwmt4McKBQ8 by Jaime@social.quodverum.com
2021-06-23T12:29:11Z
0 likes, 0 repeats
@MAJA_4_THETRUTH He could do that and just pay off the loan.How long before he would be able to secure a credit card?
(DIR) Post #A8ZrN6VycS3dsDo5PU by Jaime@social.quodverum.com
2021-06-23T12:32:30Z
0 likes, 0 repeats
@pma05 I’m arguing with hubby now. It was Chrysler.
(DIR) Post #A8ZsWkLbzV7pyP7WxU by Gmajv@social.quodverum.com
2021-06-23T12:45:26Z
0 likes, 0 repeats
@Jaime https://www.creditkarma.com/A free website that gives you your credit score, tips to increase your score and credit cards that you qualify forHelped my daughter improve her score
(DIR) Post #A8Zu0j9l5HGav8R5l2 by Jaime@social.quodverum.com
2021-06-23T13:02:04Z
0 likes, 0 repeats
@AngryAmericanWoman Thank you! I will look into that.
(DIR) Post #A8ZuApfHjyRY0C06oC by Jaime@social.quodverum.com
2021-06-23T13:03:54Z
0 likes, 0 repeats
Thank you all for your experience and suggestions. Very much appreciated! ❤️
(DIR) Post #A8ZwhAE91f90wwqnjM by MaureenQueen@social.quodverum.com
2021-06-23T13:32:09Z
0 likes, 0 repeats
@Jaime Not sure what type of credit cards Capital One is offering your son, but we have used Capital One for decades! We like that bank - much better than Bank of America. They aren’t sketchy. So maybe worth a try?
(DIR) Post #A8ZwjXUtTkt3hSokkK by Jaime@social.quodverum.com
2021-06-23T13:32:34Z
0 likes, 0 repeats
@AngryAmericanWoman I just called they were wonderful with providing information. He can apply for a secured card online. I would have to talk to customer service because I can open a Discover credit card and put him on as an authorized user and some of that is reported to the credit bureau’s. They told me it takes about eight months before they look at the account and make a decision whether they give a regular credit card or not. Thanks fir the info❤️
(DIR) Post #A8Zx9l4tboERLh9wy8 by Jaime@social.quodverum.com
2021-06-23T13:37:19Z
0 likes, 0 repeats
@Moleena @Gmajv Yikes! Just off the phone with Discover I think that is the way we will start.
(DIR) Post #A8ZxFip4uFQW5mbXgO by Jaime@social.quodverum.com
2021-06-23T13:38:23Z
0 likes, 0 repeats
@Lael Thanks!
(DIR) Post #A8ZxXlxG05rL1C2NHs by StevenDouglas@social.quodverum.com
2021-06-23T13:41:08Z
0 likes, 2 repeats
@wtawtaw_gal @Jaime I went straight to the bank local branch for my daughter, asked a manager I knew to approve my daughter's application, and that I would collaterize it. All accepted, she got the card, made all her payments, and that was reflected in her credit score, which is to rock solid to this day.Talk to someone. Make it personal but treat it like business. Bank loan officers and managers have power to call shots and make exceptions.
(DIR) Post #A8ZxZdWKKXF7RGKVPs by StevenDouglas@social.quodverum.com
2021-06-23T13:40:13Z
0 likes, 0 repeats
@wtawtaw_gal @Jaime I went straight to the bank local branch for my daughter, asked a manager I knew to approve my daughter's application, and that I would collaterize it. All accepted, she got the card, made all her payments, and that was reflected in her credit score, which is to kndolid to this day.Talk to someone. Make it personal but treat ít like business. Bank loan officers and managers have power to call shots and make exceptions.
(DIR) Post #A8ZxgbkRJnDby8FsOG by Jaime@social.quodverum.com
2021-06-23T13:43:15Z
0 likes, 0 repeats
@StevenDouglas @wtawtaw_gal Excellent idea. Thank you!!
(DIR) Post #A8a0RKmCR532qpUFCS by Jaime@social.quodverum.com
2021-06-23T14:14:06Z
0 likes, 0 repeats
@LakePacificLover Thank you very much. I’ve gotten more help and information from my friends here than I did from the manager at the bank I use.Pathetic!
(DIR) Post #A8a0Vc2gBSglYgEeB6 by Jaime@social.quodverum.com
2021-06-23T14:14:53Z
0 likes, 0 repeats
@Lael ❤️
(DIR) Post #A8a0aNN69lJ1VR3cSe by Jaime@social.quodverum.com
2021-06-23T14:15:44Z
0 likes, 0 repeats
@LakePacificLover Good sound advice. Thank you!
(DIR) Post #A8a1qzCJO6itPPUpKS by Gmajv@social.quodverum.com
2021-06-23T14:29:56Z
0 likes, 0 repeats
@Jaime @LakePacificLover local credit union not big bank!!!’
(DIR) Post #A8a2H16muDJarfKCnY by Jaime@social.quodverum.com
2021-06-23T14:34:39Z
0 likes, 0 repeats
@LakePacificLover Thank you!
(DIR) Post #A8a2MYXa27YE05UwgC by Jaime@social.quodverum.com
2021-06-23T14:35:39Z
0 likes, 0 repeats
@LakePacificLover @Gmajv That was the problem with the dealership. All along we thought he was building credit turned out nothing.
(DIR) Post #A8a2mazNYKnX7guw5Y by Jaime@social.quodverum.com
2021-06-23T14:40:21Z
0 likes, 0 repeats
@LakePacificLover @Gmajv Haha!!I was arguing with hubby earlier about this. He insisted he was going to get credit. You can’t believe anything these shysters say.
(DIR) Post #A8a3VVhy28fVmBBr6W by SweetIceTea@social.quodverum.com
2021-06-23T14:48:28Z
0 likes, 0 repeats
@Jaime Can you still go out an purchase a lawn mower or an appliance from a Lowes Home Improvement or Home Depot? Their rates are probably ridiculous, but if he has money in his budge to pay something off in a couple of months - it might be the first step.
(DIR) Post #A8aDHiYcSkXZ7Asb8i by wtawtaw_gal@social.quodverum.com
2021-06-23T16:38:01Z
0 likes, 0 repeats
@StevenDouglas @Jaime Excellent.Mine was the old..don't have any money, nor never did type fellow. lolMy idea was in NO WAY to infer your son (Jaime) was in that category. But others here have given you excellent advice apart from the one I suggested.Best of luck Jaime.😎
(DIR) Post #A8aDalQI24bhVL47cW by 68sawtooth@social.quodverum.com
2021-06-23T16:41:28Z
0 likes, 0 repeats
@Jaime Buy something with credit and pay on time. Try a credit union ad they are friendly.
(DIR) Post #A8aDp2e2naScyHJ6Qa by 68sawtooth@social.quodverum.com
2021-06-23T16:44:00Z
0 likes, 0 repeats
@Jaime @Debbie742 Never deal with a bank as they don't give a shit about your business. Their profit centers on fees and penalties. Wonderful model
(DIR) Post #A8aIzhj5PiR737ZLxg by wellmet123@social.quodverum.com
2021-06-23T17:42:00Z
0 likes, 0 repeats
@Jaime They send out solicitations all the time.
(DIR) Post #A8aqRXqx0pWb1Y8BJw by Jaime@social.quodverum.com
2021-06-23T23:56:48Z
0 likes, 0 repeats
@Liberty_Freedom Thanks!
(DIR) Post #A8aqbwfZbGfgt2lhdQ by Jaime@social.quodverum.com
2021-06-23T23:58:41Z
0 likes, 0 repeats
@LakePacificLover @Gmajv Are you saying to do this after he has a card set up?
(DIR) Post #A8avKKvJBabAfPYExU by Jaime@social.quodverum.com
2021-06-24T00:51:32Z
0 likes, 0 repeats
@LakePacificLover @Gmajv To get a card? The bank we use was no help at all.( Chase)
(DIR) Post #A8avT8G3e21dzaS0Su by Gmajv@social.quodverum.com
2021-06-24T00:53:07Z
0 likes, 0 repeats
@Jaime yes. I have a credit card through my credit union
(DIR) Post #A8avpIyuSKJFca0E8O by Jaime@social.quodverum.com
2021-06-24T00:56:24Z
0 likes, 0 repeats
@LakePacificLover Just looking back.He can put money in a secured account. Chase doesn’t offer anything. Would have to be a different bank or Discover, Capital One or the above you mentioned. I can also open a new credit card with him authorized to use as long as they report to credit bureaus. It helps a little from what I’m hearing.
(DIR) Post #A8awBSAkxqbAUv6Zii by TXPatriot2021@social.quodverum.com
2021-06-24T01:01:07Z
0 likes, 0 repeats
@Jaime @LakePacificLover If he is paying rent, utilities, phone bills etc, these can be used to show his payment history. Check out suggestions on the Experian site. I use it for identity protection and a few other financial activities. There is a way to utilize it without paying.
(DIR) Post #A8awaJ3bzXWDT0c81o by Bluecharger69@social.quodverum.com
2021-06-24T01:05:37Z
0 likes, 0 repeats
@Jaime Apply for a finger hut credit. They report. If they approved him only use half and don’t pay it all off at once. It’s a high interest rate but it builds credit score. Once you get the score up then apply elsewhere and payoff finger hut. It worked for my son and he bought his first truck without a co signature.
(DIR) Post #A8awrtYpWe9JbTbS1A by Jaime@social.quodverum.com
2021-06-24T01:08:48Z
0 likes, 0 repeats
@TXPatriot2021 @LakePacificLover Haha! No none of the above. That’s why he has a decent savings. He works hard and doesn’t ask for a penny. He’s worked since he was 14. We though his truck was building credit turns out not the case.
(DIR) Post #A8ax5v7cWBK4V1Z0OO by Jaime@social.quodverum.com
2021-06-24T01:11:20Z
0 likes, 0 repeats
@Bluecharger69 Thank you! So many good suggestions and options. Really appreciate.
(DIR) Post #A8b9LKbhFKH9KkkLWy by Jaime@social.quodverum.com
2021-06-24T03:28:34Z
0 likes, 0 repeats
@LakePacificLover Thank you! That’s what I’m leaning towards. I will keep you posted on the hopeful success.👍
(DIR) Post #A8bAkcRYATsJqVcf5c by Jaime@social.quodverum.com
2021-06-24T03:44:21Z
0 likes, 0 repeats
@LakePacificLover Thank you ! I will keep you posted.❤️