Applying for a CC when you have no credit?

[tammymacb]

My DH has pretty much no credit.

Back story.. Before we married, (10 years ago ) he had divorced a woman who literally destroyed his credit. He was active military stationed in the Middle East. He had his paychecks sent back home. His ex used the checks, but not to pay ANY bills. He came home to find out that everything was behind. Even his phone bill was over $1000 from not being paid for so long...

He had to file bankruptcy as he had no other options, no money and all the money he had made/sent home was invested in things like expensive furniture from Southeastern Galleries.

At that point he was left with land and a car that he paid cash for.........

soooo...

Ten years ago. I met DH. I owned my own home, and paid my own way in life. I have credit cards ( that I pay monthly ) and when I bought my last car, my credit check came back with a credit score of 810.

We married, he sold his land, I sold my home, we bought a house together with both of our names on the mortgage. He applied for a credit card last year ( he's never had one since I've known him- he uses a debit card to buy everything and when we travel- we use one of my credit cards ) He's not had a car payment since I've known him.

So...for a credit history. An always paid on time mortgage for 10 years. No car payments. No revolving credit. That's it.

He applied for a credit card earlier this year just so he had one and was declined for not having any credit. He was embarrassed and now he doesn't want to apply again.

However, I think he should have one. And use it for a few bucks each month and pay it off in full...just so he has credit of his own.

Now, the kicker. I applied for ( and was accepted ) the new Southwest Visa. Southwest just moved into our area and I plan on using it for trips and paying it off. Then using the points towards travel. I got two free flights.

I'd like DH to also apply. Really just for the flights do I care that it's a SW Visa. But, I'd really like those extra flights if we can get them.

So....how do I go about getting him the card/flights? Can I cosign or anything?

Advice?

 

[ascwilson]

The easiest would be to add him to your credit card in order for him to begin to establish a credit card history. You could also apply as a co-borrower with him too.
Our credit union offers secured credit cards for those looking to establish credit which would mean he could put money on deposit in an account there and pledge it as collateral. If you have a credit union, I suggest you to talk to them as they often do credit rebuilding loans with interest rates at a fraction of what other credit rebuilding credit card companies charge.

 

[ExPirateShopGirl]

I agree with the previous poster about obtaining a secured VISA or MC through a credit union. Builds credit as well as anything else. My college age daughter has one for incidentals and uses it, even though the national bank next to the university sent her a regular MC when she opened up a checking account there as a freshman. It annoys me that banks do that.

 

[malibuconlee]

I would suggest going to the place you bank and ask about getting a card from them.

Or Sears or JCPenneys? I remember them giving us cards years ago when we made very little and were just out of high school.

DH's first card came from the bank his mother worked at. Small local place. I still remember him begging for a higher limit when we were planning the wedding.

 

[dd50]

You may want to put him on one or more of your cards as a authorized user for a while.

I didn't have credit cards for a long time because I didn't think I needed them and when I tried to get one all my old accounts were no longer reporting. I started out with Capital One. I then waited about 8 months and applied for and received a few others.

 

[marie1203]

When I meet DH he also had no credit. Once we got married I put him down on my credit cards. I did that for about a year before he applied for a credit card himself. If he was declined I wouldn't push it making apply for another credit card if nothing has change in his credit. Add him to one of your credit cards and wait before he tries again as credit.

 

[Mom of 3 Princesses]

I would go to your bank or Credit Union to get a card. A secure card is fine, but it is not going to have the same impact and building of credit as a unsecured or regular CC.

I had no credit either. Matter a fact- I traveled from a word of bankruptcy, bad credit and poverty to now. So I was about 11 years of rebuilding. Before I got my CC from my bank (I spend 35.00 a month and pay it back directly through transfer in my checking account) my credit score was in the low 700's. After a year of having my CC and using it monthly (and paying it off IMMEDIATELY) my credit moved up pretty close to the 800's.

IMO, I would contact your bank and see what they can do.

 

[Purseval]

Go to your bank. They will look at your history and either give you a secured card or an unsecured one, depending on how good of a customer you are.

 

[LuvMickey36]

As embarassing as this is to admit, the 10yrs I was married I had nothing in my name. Once we sep, my car died. Imagine my horror and shame when the dealer told me that I couldn't get a loan. Not because I had bad credit, but I had no credit. That was worse. At 39yrs old, I had to ask my dad to co sign the loan. After a year of on time pmt. I was able to get a home loan on my own! My next issue was a credit card. I had a joint with dad, but wanted my own. The only place I found was Orchard Bank. It was a small bit to start, but after 6 months or so of good history they raised the amount and I was able to get a gas card etc. I still don't have tons of cards and that is my choice, but I have what I need. Tell your dh to hang in there and start small, but it is doable. Good Luck

 

[tlbwriter]

In addition to adding him to your accounts, he might find that a store credit card is easier to get than a bank credit card.