Without credit.
When can we get an edit for the phone website...
When can we get an edit for the phone website...
N/A credit score.
- Thread starter coposrv
- Start date
I'll be damned if I live like a peasant for the first 35-40 years of my life to try and pay cash for everything. That's just stupid.
Then again, anyone buying a decent place to live in cash is bringing in bank anyway, so that's kind of a catch-22.
I don't have the desire to work 80+ hours a week or rack up school loans that'll take five plus years to pay back at my full salary once graduated and employed, just to say I bought my house with cash. If that's you, more power to you.
I'll stick to my $135K house, 20% down and two nice cars with low-ish monthly payments all while having money in the bank for emergencies, vacations, etc.
Then again, anyone buying a decent place to live in cash is bringing in bank anyway, so that's kind of a catch-22.
I don't have the desire to work 80+ hours a week or rack up school loans that'll take five plus years to pay back at my full salary once graduated and employed, just to say I bought my house with cash. If that's you, more power to you.
I'll stick to my $135K house, 20% down and two nice cars with low-ish monthly payments all while having money in the bank for emergencies, vacations, etc.
Once again, you haven't provided anything other than saying "it MIGHT not work"..... I'm speaking from personal experience, and all you're doing is speaking from your own conjectures.
It worked for me, and it worked great. I went from NQA to amazing credit overnight. I've said it 5 times but I guess no one should try it because you tell everyone "well it might not work so it's bad advice..."
Can you think of a reason he shouldn't try it? If it works then the OP will be able to buy a house just like I was. If it doesn't, then no harm done.
FALSE.
The added pull on his credit could make him ineligible for a mortgage especially since he is as limited as it is.
There's 1 example.
That's a very weak example, and the potential benefit outweighs the risk.
It worked out perfectly for me, and I'm offering my experience and advice because I found a way to do EXACTLY what the OP asked about. You don't have any experience in this area, as you've made clear from your other posts.
I hear a lot of "could" and "might" from you.... Well guess what. I DID buy my house, I DO Have excellent credit, and this method DID work for me. So I think it's time you sit down for a while.
Oh, it does? The risk of not being eligible outweighs trying something gimmicky and hoping the starts align?
You are not the rule, you are the exception. That's like saying last night you drove your car at 120 mph and didn't get pulled over...therefore everyone should do it because they won't get pulled over either.
Congratulations? I purchased my first house at 22, second and third at 25. My credit score fluctuates between 855 and 880 depending on the bureau you pull.
Again, no one in here, including me, is bashing you or telling you that your way of doing it won't work. We simply pointed out that it might not work and we gave you reasons; if you don't want to acknowledge that they are legitimate reasons, oh well? I couldn't care less about your personal financial well being, your house buying decisions, which of your parents you had to ask for help to be on their credit card, etc.
The only person standing on a soapbox, is you, and it's quite annoying. You only hear what you want to hear and don't actually read what others are saying. You are acting like the kid with a pair of 8's at the poker table, thinking you're smarter than everyone else, while every one else is sitting there with a full house.
Ignorance is bliss I guess.
I think most people understand an inquiry for a credit card isn't going to make someone ineligible for a mortgage. The benefits outweigh the risks because there is not really any risk at all. Not a legit reason.
What's your other reason? Because sometimes a particular type of credit card might not report the same? Again, conjecture. Not a legit reason.
I don't think you know nearly as much as you think you do. I've never met a dealer who had never heard of adding someone to a credit card in order to boost their credit quickly. Therefore, I don't really trust what you say.
I don't care if you think I'm on a soapbox, I'd rather hear from someone who has "been there, done that" instead of someone like you any day.
What's your other reason? Because sometimes a particular type of credit card might not report the same? Again, conjecture. Not a legit reason.
I don't think you know nearly as much as you think you do. I've never met a dealer who had never heard of adding someone to a credit card in order to boost their credit quickly. Therefore, I don't really trust what you say.
I don't care if you think I'm on a soapbox, I'd rather hear from someone who has "been there, done that" instead of someone like you any day.
we both win, the ones that lose are the ones that can't control their spending or those (like yourself) that don't take advantage of what is available to them.
This is why being added onto his wife's already existing cards is ideal. No credit check is required to do it nor will they take place and the history she has from the card will be immediately added to his credit report.
That is a legit reason. Once you are added to someone's credit card, you also obtain their debt. If your income doesn't support the debt, your debt:income ratio will render you unable to purchase not only a house but also a car.
Why would a bank loan you money if your debt obligation is already at or above your threshold?
I'm not sure how that's not a legit reason? If the credit card doesn't report on your bureau, it doesn't do you a damn bit of good to be an authorized user on the account.
Again, when did I tell you that it 100% would not work? I didn't. Again, who said I've never heard of doing that?
Did I say that your advice is false, or did I say that it could not be the smartest move for the OP? The latter. Luckily for you, if he gets his girl to add him on her credit card, turns out it kicks his debt:income and makes him ineligible for a new loan....you can hide behind your keyboard and say "sorry", or even better, just pretend it didn't happen; unfortunately in the real world I morally can't do that.
I sit and talk to people weekly that are in the same position. If we can go through the whole scenario and his girl pays her card off every month, doesn't carry debt, etc...then yeah it'd work out. His score wouldn't be stellar, because some bureaus count an authorized user account as opening the day they are added, while some count when the actual account was open.
Someone like me, eh? Your trolling is weak. Again, I don't care about your financial position, how you had to ask your parents to add you to their card, etc.
You gave advice, I gave advice; OP can choose to do what he wants.
Some cards do it that way, some don't. Some there must be a complete app filled out, just as if you were taking out a joint account. Again, some report as if you had been on the card from the beginning, while others start counting when you are added.
A recently opened account, no matter how well paid, will not score the same as a 5 year old account with the same pay history.
My credit was in the toilet ~8 years ago, My wife added me to most of her cards from Capital 1, chase, American Express, etc and it jumped over 200 points in 2 months and not a single one of those cards had me fill out anything. My wife just logged in online and selected "add authorized user".
Great? lol
Again, I don't care about your personal finances, either.
OP asked for advice, advice was given.
Yes but some bad advice, experience trumps perceived expectations. Unless he is co-signing for credit being an authorized user does not require a credit check because the person that is responsible for the debt is already approved.
Poor advice is saying it could or could not work depending on all of the circumstances? Tough crowd tonight.
13Cobra, I worked for a motorcycle dealership in college and I used this little "gimmick" to get customers approved who didn't have credit. It put money in my pocket every single week.
You can talk all you want, but I have real life experience that shows it worked not only for me, but for dozens of my customers.
I think everyone can figure out for themselves who is giving good advice, and who is not.
You can talk all you want, but I have real life experience that shows it worked not only for me, but for dozens of my customers.
I think everyone can figure out for themselves who is giving good advice, and who is not.
That little gimmick added money to your pocket but it's hell on those who you robbed.
Did you dothis with people who had no credit or poor credit?
If it's the latter you're just pulling down the score of those who had good credit to begin with. Terrible idea/practice.
If they had no credit, they should have money to buy a 10k bike with cash since they spend less than they make and save money.
Did you dothis with people who had no credit or poor credit?
If it's the latter you're just pulling down the score of those who had good credit to begin with. Terrible idea/practice.
If they had no credit, they should have money to buy a 10k bike with cash since they spend less than they make and save money.
Cool story bro. Glad you make assumptions about my character.
Like I said earlier, I only recommend using it for NO credit (NQA) and if the person with existing credit is responsible with their credit cards / debt.
I never had anyone come back and say "my wife / fiance / whoever is pissed because their credit sucks now" quite the opposite in fact.
This wasn't some fly-by-night dealership either, they were around long before I started working there, and they're still around today with no end in sight.
Again placing someone on a cc with good credit is a terrible idea/practice. Either the can afford the bike or can't. If they can't you found gimmicks(your word) to line your pockets. Nice
With the op situation he and wife have savings cash that can be verified with manual underwriting. The op will be a rich man with his practices.
With the op situation he and wife have savings cash that can be verified with manual underwriting. The op will be a rich man with his practices.
"gimmicks" wasn't my word, it was 13Cobra's. That's why it's in "quotation marks"
It's not rocket science at all, you should read the original question asked by the OP. He wanted to build credit quickly so he could purchase a house. He doesn't have time to get a card in his name and slowly build credit over time, the normal way it's done.
The only people who say this won't work or it's dangerous for some weird reason have never used it. It's not "gimmicky" it's a real world practice and it's used a lot more than y'all realize.
It's not rocket science at all, you should read the original question asked by the OP. He wanted to build credit quickly so he could purchase a house. He doesn't have time to get a card in his name and slowly build credit over time, the normal way it's done.
The only people who say this won't work or it's dangerous for some weird reason have never used it. It's not "gimmicky" it's a real world practice and it's used a lot more than y'all realize.
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