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my wife put me on her card but if she misses a payment does it affect my credit
my wife put me on her card but if she misses a payment does it affect my credit
Yes it will affect you. Just make sure you help her pay. Don't be late, ever! Once you're able to get your own card, you can ask her to remove you from the card. It won't show on your report anymore, but you'll have your own card to continue building your credit.
Also take out a secured card with Wells Fargo.
What Nneka said is right. And opening a secured credit card could help you build your own credit. You would put a certain amount down as collateral, then when you use the card you're borrowing against your own money. When you pay it back regularly it shows the banks that you are trustworthy and helps build your credit history over time.
Youtuber The CreditPlug is a good source.
Being added as an authorized user on a family members card that has great credit is a good way to help boost your own.
Yea or a Fingerhut account
Missed payments are a killer. Obviously, if at all possible, avoid carrying a balance on your wife's (or any) card. Use the card, allow the statement to cycle so the balance shows, then immediately pay it in full. This reflects in your credit report.
That is the ideal. If you cannot pay in full, always pay at least the minimum plus as much as you can toward paying off the balance.
I had a foreclosure and crappy credit. Got a $300 Kohl's card, paid my bills on time, bought a condo and built from there. Am now over 700
The first thing I would do to build up your credit is obtain a secured credit card from Capital One or Discover It and pay it on time. You will see your score grow right after the first month.
I was incarcerated for 10 months. Now I have 0 credit and no one to give me a chance to get any. My score is now 485!
Yes, if she misses a payment, it will affect your credit.
Follow my above suggestions and you will see your credit scores go up!
Another good way to build your credit is through Self-Build Credit by YourSELF. Its a good way to build credit because you make payments on time, that are reported and your saving at the same time and after a few months of making all your payments on time, you get offered a insecure credit card.
Getting prepaid credit card's help your credit