Answers
I have bad credit, around a score of 500. My boyfriend has excellent credit, owns his own home, his own car, was approved for a line of credit of 25000 on his own...etc. Together we make about $100k a year. We recently applied for a joint line of credit (revolving personal loan) where I was listed as the primary applicant and he was listed as the cosigner. We were denied without them even checking his credit because they said that I have unpaid collection items on my credit report. (These are from 7 years ago and are about to fall off of my credit report). The lady then told us that we would be denied on any application that I was on because of the unpaid chargeoffs. Someone from the same bank that we spoke to last week said that the way we could get approved is if we put my boyfriend on as the primary and put me on as the cosigner. Anyone have experience with that? I thought a cosigner was supposed to help someone with negative credit get approved?
Your boyfriend needs to be the primary borrower with you as the co-signer.
If you apply this way, you will most likely be approved but at a higher rate due to your bad credit.
I get people approved using this method every week.
mortgagelocator.ca Ever wondered what a co-signer is? What is a guarantor? What are their responsibilities? This video blog outlines how it works ...
i want online applications only im afraid. i live in california. i dont have a lot of credit and no cosigner option. no spam please!
im a 20 year old college student (going to be a junior in the fall) :)
Try to keep in mind that even if you get a line of credit, you will have to pay back a loan. You should already have a line of credit on your student loan, however, that is reverse debt. i.e. debt you haven't yet paid off. Even if something is offered to you 60 months no payments, during those 60 months interest still occurs.
What Is The Best Way To Get Credit Started? | day trading
I have absolutely no credit. I want to get a credt card (not secured) or something to start buildin up my credit. I have had a stab;e job for 3 + years and can pay payments. I cannot buy anything because I have no credit score whatsoever. I cannot recieve a score because i cannot get approved for anything. Is it a never ending circle or is there some alternative?
The best way is with a secured credit card. The other way is having someone that has good credit history on an account (family, spouse, etc.) put you as an authorized user on their credit card and it will show up on your credit report. This works well with accounts that have always been in good standing (never late) and it has a least 6 months of payment history. Be aware that if this person runs high balances on their credit cards that might impact the score once you get it.
...News
What to Do in 2010: Banking, Loans, and Credit CardsCBS MoneyWatch.com - Dec 17, 2009
That means you're creating a bulls-eye on your credit line. So charge at least a little on every card most months. No matter how good a customer you are, and more »
Wheels.ca - Dec 17, 2009
What's the best way to pay?He points out most of his showroom customers tap their personal line of credit, with an interest rate ranging from 2.5 to 3.5 per cent.TheChronicleHerald.ca - Dec 14, 2009
I owe $18500 on my Visa at 11 per cent interest, $9900 on my line of credit at 7.75 per cent and $2900 on my HBC card at 18 per cent.TheNewsObserver - Dec 05, 2009
Mankind was Gene's businessBut, he didn't do it for personal recognition or expectation of anything in return, he did it out of compassion and a sincere desire to help his friends andMarin Independent-Journal - Dec 12, 2009
Saturday Readers' ForumMcGlashan doesn't even know if a bank will require a co-signer for this loan. Imagine that. Then the grand jury noted a "penalty" against people who opt out