2006-08-20 16:19:45 · 9 answers · asked by cmac 3 in Business & Finance ➔ Personal Finance
the best way to build a credit rating is to show a pattern of saving your money into a bank account.
that allows the rating agency to determine that you have the capacity to repay a loan or cash advance or purchase.
2006-08-20 16:55:38 · answer #1 · answered by Anonymous · 0⤊ 0⤋
No. By adding you to their credit card only goes against their credit. What you would need to do is have them co-sign for a credit card for you. Then, it would be applied towards your credit. If you want to try to build your credit now, get a secured Visa/MasterCard. I am not sure the least amount, but check with your bank. It may be as low as $250.
2006-08-20 23:29:18 · answer #2 · answered by Richard B 3 · 0⤊ 0⤋
I dont know about IMPROVING your credit, but i know that if u dont have any credit, a parent in good standings with their credit card company can apply for a card with your name on it, under their account of course, and then completely destroy the card. you never have to look at it ever. this will make their good to great credit jump on to your name until you have enough credit to support yourself, at which time they cancel the card with ur name. and all is good.
2006-08-20 23:33:01 · answer #3 · answered by Luis 2 · 0⤊ 0⤋
It would not do anything to your credit but it might have a negative affect on theirs. If your parents want to help with your credit your best bet would be for them to buy you a credit card. They just put the balance up front for you on the card that is solely in your name. I know this from expereince. I screwed up when I was a teenager and had a credit card and when I tried to get another card I had to have a "deposit". My husband was going to co-sign one for me but our financial advisor steared us in this direction instead.
2006-08-20 23:31:23 · answer #4 · answered by ploobis 3 · 0⤊ 0⤋
The paren'ts social security number is listed as primary, so it doesn't help your credit at all, just make them responsible if you don't pay the bill. Only the primary card holder gets the credit rating from the credit.
2006-08-20 23:23:36 · answer #5 · answered by Anonymous · 0⤊ 0⤋
yes, a parent can add you to their credit card as a suplementary card holder. If your parents have good credits it might help you to improve your credit.
2006-08-20 23:28:15 · answer #6 · answered by Jessica 1 · 0⤊ 0⤋
If they go to the bank and get you a credit card in your name and then co-sign for it. Then it is yours to be responsible for paying and charging, but they guarantee it will get paid.
2006-08-20 23:24:38 · answer #7 · answered by auntiegrav 6 · 1⤊ 0⤋
i do not think so, but call the card co. & ask. never be afraid to ask a ?. how else do u think u are going to learn any thing!!!!!!!!!!P>S> the worse any thing that happens is the answer will be no!just like when ur kid or akid asks & what is the usual answer he or she gets.
2006-08-21 02:19:22 · answer #8 · answered by Anonymous · 0⤊ 0⤋
most probable yes they can
2006-08-20 23:24:36 · answer #9 · answered by Anonymous · 0⤊ 0⤋