Also I have a 704 and I have no job and I was wondering if me and him went into together and tried to get a vehicle from a used car place if that would work with my score and his paychecks?
2006-06-14 08:00:44 · 11 answers · asked by warlick19 2 in Business & Finance ➔ Credit
Yes very possible if you have atrade in or down payment. 704 is very good. 567 is not hopeless
Good luck
2006-06-14 08:04:35 · answer #1 · answered by momie_2bee 5 · 0⤊ 1⤋
Usually companies won't do that unless you both are on the loan... your best bet would be to have him go to a like a buy here pay here kind of place... and have you be the cosigner.. that way he can work on rebuilding his credit.. you can use his pay checks.. and your credit score might get you a better deal... as far as credit cards... if he has that low of credit.. why would you want something that could potentially put you in a bad place.. his best bet.. would be a prepaid credit card until he gets finances (car loan) under control or whatever.. then look at something like www.totalcard.com or www.orchardbank.com they are really high interest rates... but that is what happens when you have bad credit... also... another one that might help is capital 1... they have lower limit cards for people with not so good credit.. hope this helps :)
2006-06-14 08:14:44 · answer #2 · answered by tjadensmommy27 2 · 0⤊ 0⤋
he would have to get a secured card. Basically you would put down a deposit of, let's say, $500 bucks and that would be your limit. Oddly enough you would also pay interest on that money, even though it;s your own, and it would be just like a real credit card. It would essentially be a debit card that gets reported to the credit bureaus. as for both getting a car, probably not. even though you have a good score, you have no job, therefore no income. you could possibly work out something with the dealership as their desire is to make a buck so you might be able to strike it big and land that auto. It also depends on how much you husband makes at his job as well.
2006-06-14 08:06:04 · answer #3 · answered by Thank You..Come Again 2 · 0⤊ 0⤋
Like other answers, start with Secured credit cards. That's a good way to build up credit.
As for the vehicle, even though you have good credit but no job, and he is the opposite, they WILL use both your credit for the vehicle application.
They will give you financing (due to your credit score), but they will get you with a very bad interest rate (due to his credit score).
2006-06-14 08:06:08 · answer #4 · answered by Scott D 5 · 0⤊ 0⤋
Stick with your idea of getting an installment auto loan. Credit cards do very little to improve your score. The points you gain by paying on time every month are almost an even trade for the points you loose in debt to income ratio. The auto loan however, will add more points each month you pay on time. He also should look at the "problems": on his credit report and make arrangements with as many as possible.
2006-06-14 08:05:47 · answer #5 · answered by progunr 5 · 0⤊ 0⤋
your husband will be able to get a credit card and the two of you together will be able to get an auto loan
click on my pic to go to my profile there is a bad credit link there
you don't have bad credit that is okay
there is a company that will have credit card companies for your husband
and lenders that will take into account your scores for a auto loan
2006-06-14 08:43:45 · answer #6 · answered by umdanddvd 3 · 0⤊ 0⤋
I'd say try together. Secured credit cards (where you set it up on a savings acct) help to build credit. the down side is that he'll be paying astronomical interest rates to borrow his own money.
2006-06-14 08:03:53 · answer #7 · answered by Gabby_Gabby_Purrsalot 7 · 0⤊ 0⤋
Aspire Visa, First Premier Bank.. also if he goes to his bank and ask for a secure credit card against his own money.. that helps... and yes, you can be his co-signer, that will help him also.
2006-06-14 09:34:33 · answer #8 · answered by Anonymous · 0⤊ 0⤋
HBCS cards, particularly Orchard Bank
2006-06-14 08:02:45 · answer #9 · answered by David H 3 · 0⤊ 0⤋
That's a good point
2016-07-27 00:12:44 · answer #10 · answered by ? 3 · 0⤊ 0⤋