I have a couple credit questions.

**cheappearls** · 01-19-2007, 05:13 PM

I just finished printing out mine and Dh's credit report (remember you get one free one a year.) and just to see I paid a few extra dollars to see both of our credit scores. Dh's is okay but it says I don't have enough to even have a score

since I have no accounts in my name. Keep in mind that I'm 20 y/o and all accounts I share with DH, I've never had one of my own.

So that leads me to my question, we have one credit card. I am on the account but it doesn't count to my credit?

DH opened the account then added me so I don't know if that has something to do with it. I just thought it was weird.

I plan on getting a low limit card if I can, just for me to build up my credit on now that I know it's that way. So question #2: I have a vague idea of this so bare with me. Dh's credit is fairly good but because mine is... well not there, does that bring our credit as a couple down? I had heard something about this a long time ago so I'm not even sure if I understand this right.

I feel like a moron.

**PAVallygrl** · 01-19-2007, 05:21 PM

Try Capital One. That is who I started off with when I got my first Credit Card.

Also, I always recomend that a woman have at least 1 Credit Card in her own (read: maiden) name (and put maybe $5 a month then pay it up each month to build up your credit)

**Megareader** · 01-19-2007, 05:25 PM

I agree, you need to establish credit in your name to build up your own credit rating.

**lottaLove** · 01-19-2007, 05:32 PM

We had a situation like this with our credit. The only credit card DH had was a Visa that I had added him to. When I asked the bank about this, they said that basically, he was only being added as a user authorized to use the card, the card is basically still in my name. For the Visa we have now, we applied together for it, and therefore it affects both of our credit.

I would just go open up an account with a very low limit, and put something on it every month, making sure to pay it off right away. As long as you keep doing this, you will slowly be building your credit.

**Jenna** · 01-19-2007, 09:44 PM

Originally Posted by PAVallygrl

Try Capital One. That is who I started off with when I got my first Credit Card.

I agree with the OP having her own card in her own name.... though I would not recommend Capital One.

Capital One Credit Cards Hurt Your Credit Score
By Flexo on Friday, September 15th, 2006

If you have a credit card with Capital One, chances are your credit score is lower than it would be with a different credit card. This is because Capital One (and possibly other companies) don’t report your true credit limit.

Just Google - Capital One, and Credit Score. I've read numerous complaints on other forums about Capital One.

**Jenna** · 01-19-2007, 09:45 PM

http://www.consumerismcommentary.com...-credit-score/

The link where I found that quote... just from a random Google search.

**geckoace** · 01-20-2007, 09:44 AM

i agree i think you should have one card in your name and make sure you use it very responsibly, it will be easy to establish even if you are a SAHMbecause they ask for household income i like washington mutal/providian and when you have an account with them you automatically (yes FREE of charge) get to see you credit score (one of them) as part of your internet banking/billing that makes it easier to gauge where you are. make sure you get a low limit like 500 or something and be very responsible, or get yourself a 'charge card' like the old AMEX they have to be paid off each month in full although now that i type it im not sure how that effects your credit score. JMHO

**AheeK** · 01-20-2007, 12:34 PM

I don't have any advice to give, but I do have a question along the same vein...How much does your credit score suffer if you don't pay your credit card bill one month? Last month I only put a couple dollars on my cc, and it actually would've cost more for the stamp to send in the payment than the interest added on if I didn't pay, so I didn't pay it. Will that hurt my credit score? It's the first time ever since I got my cc that I haven't paid the monthly balance off. What about bounced checks...how much do they hurt your credit score?

Sorry for butting in on this thread...I just thought since the questions are related it would be easier to post them here.

**acidcookie** · 01-20-2007, 02:09 PM

Originally Posted by AheeK

I don't have any advice to give, but I do have a question along the same vein...How much does your credit score suffer if you don't pay your credit card bill one month? Last month I only put a couple dollars on my cc, and it actually would've cost more for the stamp to send in the payment than the interest added on if I didn't pay, so I didn't pay it. Will that hurt my credit score? It's the first time ever since I got my cc that I haven't paid the monthly balance off. What about bounced checks...how much do they hurt your credit score?

Sorry for butting in on this thread...I just thought since the questions are related it would be easier to post them here.

Yes, it will. There are several factors to your credit score (like payment history, percentage of available credit used, and length of credit history). If you just didn't pay one month, that's definitely a ding to your score.

**FrugalMomof3** · 01-20-2007, 04:39 PM

I agree with the comment about Capital One, everytime I check my credit report I notice that Capital One never shows your credit limit thus hurting my credit score, I will be closing my Capital One credit card voluntarily (I owe them nothing).

As for you be an authorized user, I was at one point an authorized user for DH's 1 credit card and it showed up on my credit report as so, maybe it depends who the card it with for it to show up on your credit report.

Now, YES I would say get a card in your name, charge something for a few months and pay it off each month ($20 gas, pay it that month, etc...) never leave a balance, this will show good credit.

**acidcookie** · 01-20-2007, 05:04 PM

Originally Posted by FrugalMomof3

I agree with the comment about Capital One, everytime I check my credit report I notice that Capital One never shows your credit limit thus hurting my credit score, I will be closing my Capital One credit card voluntarily (I owe them nothing).

Only caution: If this is your oldest account, I would keep it open so that it doesn't "shorten" your credit history. If you are not using it, won't hurt to keep it open.

Also, I am not sure that it "hurts" your score by it not showing a limit if you are using other cards. Seems this would only be a problem if you have a revolving balance on it because then it would up your current debt without boosting your available credit (since it doesn't show your available credit).

**Telephus44** · 01-21-2007, 08:36 PM

I just wanted to add a few things..

My first credit card was an account with my mother that I was an "authorized user" on. Only one of the three credit bureaus ever has it listed - I'm not sure whether they're required to report it or not, but it sounds like that's what's happening to you. You are an "authorized user" on your husband's cards, but it's not being reported to the credit bureaus. I don't know if you can call the credit card companies and ask them to report it or not

As far as your credit score as a couple - there is no "joint" credit score. Generally, when you apply for credit jointly they look at both of the scores but consider their decision based on the lowest score. This is just a general guideline - not all financial institutions base their decisions this way.

I agree 100% with the other posters about getting a credit card in your own name. If you ever divorced, or if your husband were to pass away - you would want to have a credit record established. Getting a card, no matter what the limit is, will help you. I'd charge a few things on it (small things) and pay them off right away, to establish a payment history.

And I just wanted to add on the Capitol One bit - they only record your highest balance owed as the limit. I have a Capitol One card with a $6,000 limit, but it is only reported as $1,072, since that is the highest balance I've ever carried. So if you're getting a credit card for the sole purpose of boosting your credit score, I would not go with a Capitol One card. However, this is the longest card I've ever had and I've had nothing but wonderful experiences with them - I've had my card stolen and lost twice and had to dispute charges from a merchant for an item I purchased over the internet and they were very helpful and a pleasure to deal with both times. Also, like AcidCookie said - if it's an account you've had for a long time, I wouldn't close it because of the length of history on the account.

**justpeachy92** · 01-22-2007, 12:40 AM

I agree you should get a card in your name to establish your credit. If I was you I would get a charge card for what ever gas station you use the most. Everytime you put gas in the car use your card, then set the cash aside to pay the bill in full when it comes.

**mnmarty03** · 01-22-2007, 09:09 AM

I would get a credit card - are you in college? You might be able to get a card through 1st Financial Bank USA (https://www.1fbusa.com). They offer student cards w/low interest (mine is about 3%), and the great thing is that once you're not a student anymore you still keep the card and the great interest. I'm not sure if you can just sign up for it, or if you need to be invited (I was invited 4 years ago)..but you could go to the website and see. My balance started off low - at $250, but after I built up my credit a bit, they increased the balance. I now have over $9,000 balance, however I never ever ever use that much. I've had good experiences with them, and will continue with them as my primary card for a long time to come.