Credit Score Question

[Gumbolette 58]

So, me and my husband recently applied for a car loan to replace my old Jeep.

This loan is primarily for a purpose of me building my credit score.. so when CHASE bank sent us a denial letter of our loan from the grounds of my husband's 1. Student loan, 2. A very horrible mistake of a doctor's office for not filing the right insurance card which ultimately came down to a collection services which by the way we paid full after they couldn't fix the mistake.

Now, together with the denial letter, they showed us our credit score. My big question was..

How did I have a credit score of higher mid 700s if I don't have any existing loans, or whatsoever that I could think of to have this high of a score?

Feed back is greatly appreciated.

[adiiann 163]

So, me and my husband recently applied for a car loan to replace my old Jeep.

This loan is primarily for a purpose of me building my credit score.. so when CHASE bank sent us a denial letter of our loan from the grounds of my husband's 1. Student loan, 2. A very horrible mistake of a doctor's office for not filing the right insurance card which ultimately came down to a collection services which by the way we paid full after they couldn't fix the mistake.

Now, together with the denial letter, they showed us our credit score. My big question was..

How did I have a credit score of higher mid 700s if I don't have any existing loans, or whatsoever that I could think of to have this high of a score?

Feed back is greatly appreciated.

First of, banks make mistakes for acquiring credit score, happened to my husband. If you have 700+ credit score and job, you should apply alone in your car loan. That's what I did when I applied for car loan, my husband have lower credit score that I am because he wasn't working that time and have student loan too. I got approved with better rate.

Anyway, if you have good standing credit card, checking account and job, it might boost your credit score.

[Gumbolette 58]

First of, banks make mistakes for acquiring credit score, happened to my husband. If you have 700+ credit score and job, you should apply alone in your car loan. That's what I did when I applied for car loan, my husband have lower credit score that I am because he wasn't working that time and have student loan too. I got approved with better rate.

Anyway, if you have good standing credit card, checking account and job, it might boost your credit score.

I have been added as an authorized user of my husband's credit card about 11 mos ago so technically I don't have my own credit card account but only a user of his.

I have a job as a nurse but I still don't see any explanation as to how my credit score could be this high. And yes, I have a higher score than my husband now also.

We got our loan from a community/local bank, although now we got wiser. We used our CD as a collateral for a car loan and got a very low rate. We still filed jointly it would help each other for our credit score in the long run anyway.

[adiiann 163]

I have been added as an authorized user of my husband's credit card about 11 mos ago so technically I don't have my own credit card account but only a user of his.

I have a job as a nurse but I still don't see any explanation as to how my credit score could be this high. And yes, I have a higher score than my husband now also.

We got our loan from a community/local bank, although now we got wiser. We used our CD as a collateral for a car loan and got a very low rate. We still filed jointly it would help each other for our credit score in the long run anyway.

[DavenRoxy 1,073]

If your husband added you to a long-standing credit card, you get to take advantage of his good credit on that card. Happens all the time. Best to add a new spouse to the oldest, with best payoff data, credit card. It establishes a high credit score very quickly.

[Gumbolette 58]

If your husband added you to a long-standing credit card, you get to take advantage of his good credit on that card. Happens all the time. Best to add a new spouse to the oldest, with best payoff data, credit card. It establishes a high credit score very quickly.

yes, the account he added me as an "Authorized" user is long been with him. But like I said, I am not a co-owner of this account. All our salary goes to one checking acct, and all this time I have been using a prepaid card to pay bills, and what not.

I'm still left baffled about this, and not sure who to call to to ask how did this happen.

[Dave&Roza 748]

yes, the account he added me as an "Authorized" user is long been with him. But like I said, I am not a co-owner of this account. All our salary goes to one checking acct, and all this time I have been using a prepaid card to pay bills, and what not.

I'm still left baffled about this, and not sure who to call to to ask how did this happen.

Why would you want to call and ask someone why you have a good credit score? The way they determine a credit score defies logic. My wife is getting credit card offers a few months after I put her on my CC and then on the investments I inherited from my Mother. My credit score has dropped because we took out a loan for our house and had too many inquiries during the process. So I went from a score over 800 to just about 740 because I got pre-approved, did not domuch in buying a house and then went and got pre-approved again.

Enjoy the good credit score and get the car loan in your name alone.

Dave

Edited July 23, 2012 by Dave&Roza

[Gumbolette 58]

Why would you want to call and ask someone why you have a good credit score? The way they determine a credit score defies logic. My wife is getting credit card offers a few months after I put her on my CC and then on the investments I inherited from my Mother. My credit score has dropped because we took out a loan for our house and had too many inquiries during the process. So I went from a score over 800 to just about 740 because I got pre-approved, did not domuch in buying a house and then went and got pre-approved again.

Enjoy the good credit score and get the car loan in your name alone.

Dave

I guess I'm just goin to shut my mouth and enjoy the score.

It was also all the inquiries on our score that kinda hit us hardball more so for my husband. We need this loan more than ever now to help my husband's score go up the way it was. Maybe after a year or so when our loan credibility has been reported to the proper office, the husband should be able to have a better score than now and good enough to be a first time house buyer.

[himher 634]

My wife does not work at all (little ones at home) and only lived in the US from 01/08-01/09 and from 03/12 to now. Her credit score is 802 and mine is 790 (??LOL??).

It is because she has been on all of my credit card accounts since 2008 and we bought a car together in the US in 2010.

She got a credit card in '08 and also used it occasionally / kept it current.

This is common. Unusual to hear complaints because the agencies reported a good score though.

I have been added as an authorized user of my husband's credit card about 11 mos ago so technically I don't have my own credit card account but only a user of his.

I have a job as a nurse but I still don't see any explanation as to how my credit score could be this high. And yes, I have a higher score than my husband now also.

We got our loan from a community/local bank, although now we got wiser. We used our CD as a collateral for a car loan and got a very low rate. We still filed jointly it would help each other for our credit score in the long run anyway.

[Dave-n-Oksana 49]

yes, the account he added me as an "Authorized" user is long been with him. But like I said, I am not a co-owner of this account. All our salary goes to one checking acct, and all this time I have been using a prepaid card to pay bills, and what not.

I'm still left baffled about this, and not sure who to call to to ask how did this happen.

This is how the credit system works. The credit agencies don't have a detail history of who was put on what line of credit and at what time, only the credit issuer knows this but does not report it to the agencies. So the agencies assume that you have been using and paying on this line of credit from the beginning.

We are going to do this for my step-daughter as she will be applying for college loans soon and we want to help her the best way we can.

This is one of the many ways to help build and establish credit