G Detroit
 |
Do not put yourself on her credit cards. You do not want to be responsible for her and she should not have to be responsible for you. What if she defaults, that will now be on your record. The only reason she has more than one credit card is because she is carrying debt. Get your own credit card, open it upon receipt and then either shred it or use it sparingly. Always pay the enitre balance off in the same pay period.
Good Luck. |
|
leanndpurdy
|
Just because your aunt has a lot of credit cards does not mean she has good credit. I would suggest getting a secure credit card and making small purchases and paying it off right away to build your credit up. |
|
Crazy cat lady >^ ^<
|
you can no longer piggy back on someones credit |
|
Jason
 |
She won't put you on there unless she's stupid... That gives you the right to charge things up that she may have to later pay for if you're not able to.
When folks can't get credit there is always a reason for it. You need to get a card and work on building up your own score. The credit score is designed to protect you as well, from getting loaned more money than you're able to repay. |
|
Mowis
|
I think it is called "piggy backing" and you would probably want to talk to a financial adviser. |
|
Artman
|
Not a good idea. That will only work for her, not for you. You need to get you own credit card. |
|
Alucard
 |
i forgot what it was called, but it is possible as long as she pays all of them on time. it can help you and it can hurt you so be carefull |
|
Sweet
 |
She has to add you as a co-applicant since the rules have changed. That means you are subject to the same credit inquiries as if you had applied for it alone. It also means they may or may not add you since you are not immediate family.
Adding as an authorized user will no longer do anything for your credit. |
|
Lydia
 |
I don't know if that works...and could be a bad idea if she can't pay them. Just get your own credit card and only buy gas or something simple so you can pay it off every month. |
|
Syd
|
If your aunt doesn't at least pay her monthly balance than she is going to worsen your credit if that is even possible. |
|
NANCY J
|
if your aunt has a lot of cards, she might have bad credit. don't do it. If you have a jcpenny or other store with inhouse credit near you, go get thier card. I did now I'm buying a house. |
|
KC
 |
Your better off creating your own credit. I started with a card that had a $500 limit, and every month I paid it off; now 15 years latter that same card has a $20,000 limit.
Start small, show them you will make your payments on time and they will increase your limit; which will increase you score.
Remember having a lot of cards will lower your credit score, before it is raised by making payments.
Good Luck! |
|
Veritas et Aequitas ()
|
It won't improve your credit score. It can hurt it though because it shows up on your report as an AU. Everything that happens with that account shows up on your credit report. You won't benefit from it though because it's not YOUR credit card. You cannot be forced to pay the bill if it goes delinquent but it can be placed on your credit report as such which is probably more damaging. |
|
Arrica H
 |
If you are on her card, I don't think it will imporve your credit score much because she is still considered the holder and the one paying the bills. Instead try getting a loan and having her co-sign. |
|
tone
|
This can backfire on both of you. Once she does, her payment habits will be reflected on your credit. therefore if she defaults, it hurts you. also, too many cards can actually decrease credit score even with perfect pay history. I would not recomned this option. I would apply for a dept store card, (macys, target, walmart for examples) a gas card, and 1 visa, 1 mastercard. Use them and pay double min pay each month, but carry balance one year. you will see credit score rise. but no more cards than this. |
|
Ben Dover
|
she gets a credit card uner her account in your name and while you use it and pay it off it builds both of your credit her for co sighning for you to get a credit card and yours for paying your bill on time every month and how much credit you use all count so if you have a thousand dollar credit card and went and bought a thousand dollars worth of stuff and it took you 5 months to pay it back it would take you longer to pay it back because it show that you buy stuff you cant afford to pay for at one time so the best thing to do is when you get paid set aside a certian amount of cash that you will spend on you for clothes food gas etc etc, use the credit card to pay for it then when it comes time to pay your bill you didnt spend more than what you put to the side for your self and you pay your bill off in full every month which shows you live within your means and you are responsible |
|
Ryan M
|
The "Piggy Backing" technique
Better hurry, cause I do believe the government will seriously cracking down on "piggy backing" shortly.
Essentially all you have to do is have her order a card for you in your name. You can do it through most websites in which her card is offered for. I would get on the one she uses most. Then as soon as she gets the card for you, have it cut up. With-in 90 days your credit score will jump to with-in 70-90% of hers. but if you have bad credit vs. no credit. You will essentially lower her score how much depends on your credit. I hope you both are aware of that.
Hurry up though because the government has legislation in process to eliminate what you are trying to do. |
|
steve
|
have her apply for one in your name |
|
SAMD010
|
What you are talking about here is illegal . . . In fact, it's a Federal Law that amends another earlier Federal Statute, protecting the rights of all commerce here in the USA, as long as the business is a tax-paying Enterprise. On the same token, they can't shelter a rinky-dinky little cheap business that they are subsidizing by a huge conglomerate and expect to receive some kind of tax-kick-back. It's people like you who give us all a bad name . . . What I would do if I were the U. S. Marshals Service is I would go after your aunt and make her suffer the consequences. |
|
Chloe! x
|
I have no clue! |
|
Crazy dude
|
um? idk. |
|
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
