No Credit Card! What to do?

[Jodijo]

I haven't worked in the banking industry for 10 years, but at that time, anyone who was declined for a loan was entitled to a free copy of their credit report from the credit bureau whose info was used to make the decision.

It was probably because of the "no credit" issue, but you may want to check your credit report to be sure their isn't any inaccurate info on it (such as from identity theft, etc.).

I do have credit, so that is not the problem. I did call the bank and they said it was because we are paying on 3 mortgages and 1 car loan. Well we have 1 mortgage and no car loans. So, I will be looking into that more.

Thanks everyone for your help and advice! I am so looking forward to our trip!

 

[Jodijo]

I'm a bit disturbed about why you were turned down for your own credit card. You say you are gainfully employed and can't get a credit card?

Do you let your DH handle all the finances?

I've heard about people who have let their spouse handle everything ... this is not a smart thing to do, even if your spouse is trustworthy. You need to be able to take care of things on your own should something happen (either divorce or accident/death). You should really not be in that kind of a vulnerable position, especially if you have children.

The first time I got a car loan (age 20), the bank wanted my Dad to co-sign ... I said NO, I have a good down payment and a full-time job. They got the manager involved and then they backed down.

I handle the finances in our family because my DH prefers it that way; however, I try to keep him in the loop in the event something should happen to me. We have our expenses and or various credit cards in one or the others names ... so we both have a credit history on our own and together.

I've made sure that both of my children as young adults established their own credit history and have "walked them through" good financial practices.

My husband and I both take care of the finances. Until a month ago, we had separate checking accounts. I think the problem is our credit report has some unexplained problems as I stated in my last post. I will make sure to call and check on it. However, this is not the first time this has happened. My DH and all 3 of his brothers have the same initials. For some reason, we always get their transactions on our reports. We just have to clarify it with the companies. It is not that hard, just frustrating and time consuming!

 

[Jodijo]

Have you husband add you on his card as an authorized user and request that they send you a card in your name. It should be no problem.

My DH went in and did that today and they printed me a card right on the spot! Thanks for the idea. It worked and now I am more than ready for our WDW adventure!

Thanks again everyone for all of your help!

 

[ZoZo]

I don't recommend using a debit card at hotels. Merchants are allowed to place a "hold" against a certain dollar amount on your checking account when you use a debit card -- even if you don't plan to use that card to pay when you check out. It's like this amount is no longer accessible to you -- it can cause people to unknowingly overdraw their checking accounts, because they don't know that's what the hotel is doing with their debit cards. If your hotel is, say, $200 per night and you're staying 7 nights, that's $1,400 that's being "held" (ie, is unusable to you!) until you check out.

I work at a credit union, and we've heard horror stories from our members who have had multiple overdrafts because of this.

OP, if you don't want to get added as a joint user on your husband's credit card (after all, it's none of our business why you can't/won't do this!), perhaps you could use travelers checks or a prepaid Visa card for your trip.

But I do agree with another poster who suggested that you establish credit in your own name. It's a financially smart thing to do for every adult. My husband died in a scuba accident when I was 30, and was so lucky that we were joint on our accounts. What was already an awful situation would have been much more complicated if I didn't have credit of my own, or access to "our" money on a joint account.

 

[ZoZo]

I don't recommend using a debit card at hotels. Merchants are allowed to place a "hold" against a specific dollar amount on your checking account when you use a debit card -- even if you don't plan to use that card to pay when you check out. They're trying to make sure that your estimated charges will be available to them when you check out. It's like this amount is no longer accessible to you -- it can cause people to unknowingly overdraw their checking accounts, because they don't know the hotel is basically "freezing" that amount on their checking accounts. If your hotel is, say, $200 per night and you're staying 7 nights, that's $1,400 that's being "held" (ie, unusable to you!) until you check out. If you assume that $1,400 is there for you to use, you can overdraw your account.

I work at a credit union, and we've heard horror stories from our members who have had multiple overdrafts because of this type of merchant policy. They come back from vacation with hundreds of dollars in overdraft fees, and no idea that was happening!

OP, if you don't want to get added as a joint user on your husband's credit card (after all, it's none of our business why you can't/won't do this!), perhaps you could use travelers checks or a prepaid Visa card for your trip.

But I do agree with another poster who suggested that you establish credit in your own name. It's a financially smart thing to do for every adult. My husband died in a scuba accident when I was 30, and I was so lucky that we were joint on our accounts. Who would have thought I would be widowed at 30? What was already an awful situation would have been much more complicated if I didn't have credit of my own, or access to "our" money on a joint account.

 

[DaniB]

I did call the bank and they said it was because we are paying on 3 mortgages and 1 car loan. Well we have 1 mortgage and no car loans. So, I will be looking into that more.

Yikes! That would be freaking me out big time if the bank thought we had 3 mortgages instead of just 1! I hope that it's just a mistake someone made on the bank's part and not a fraud issue.

 

[Jodijo]

Yikes! That would be freaking me out big time if the bank thought we had 3 mortgages instead of just 1! I hope that it's just a mistake someone made on the bank's part and not a fraud issue.

I don't think it is a fraud issue. Most of the time we get all 3 of my DH brothers stuff on our report because people are too lazy to check the names carefully (all 4 boys have the same initials). Once we call and verify the transactions based on SS# instead of name, it comes off our credit reports. It has happened a lot.

 

[nicki.momof3]

My DH and all 3 of his brothers have the same initials. For some reason, we always get their transactions on our reports. !

Are you sure this is the issue. I have 2 other people with the exact same name (first, middle, last), it is a family name, and 2 of us live in the same city. Our birthdays are the same month a year apart.

Our credit has never been messed up. Your credit is based on your social security #. Unless someone is using your # I see this as a very hard reason to believe.

I would seriously look into this issue NOW. Your credit is very important - something I would be dealing with TODAY.

Good luck.

 

[nicki.momof3]

I don't think it is a fraud issue. Most of the time we get all 3 of my DH brothers stuff on our report because people are too lazy to check the names carefully (all 4 boys have the same initials). Once we call and verify the transactions based on SS# instead of name, it comes off our credit reports. It has happened a lot.

Really - can't see how 2 extra mortgages would be a mistake.

 

[rn448698]

I've heard about people who have let their spouse handle everything ... this is not a smart thing to do, even if your spouse is trustworthy. You need to be able to take care of things on your own should something happen (either divorce or accident/death). You should really not be in that kind of a vulnerable position, especially if you have children.

The first time I got a car loan (age 20), the bank wanted my Dad to co-sign ... I said NO, I have a good down payment and a full-time job. They got the manager involved and then they backed down.

I handle the finances in our family because my DH prefers it that way; however, I try to keep him in the loop in the event something should happen to me. We have our expenses and or various credit cards in one or the others names ... so we both have a credit history on our own and together.

I've made sure that both of my children as young adults established their own credit history and have "walked them through" good financial practices.

I feel like this post is worth reading again for anyone who comes across this thread. Couldn't have said it better myself.

 

[delaneyc52]

Have you husband add you on his card as an authorized user and request that they send you a card in your name. It should be no problem.

I third or fourth this! I've gotten cards for both my children for emergencies. You should be able to get this accomplished quickly. Plus...it will be a definite plus for your personal credit rating.

 

[DaniB]

I did call the bank and they said it was because we are paying on 3 mortgages and 1 car loan. Well we have 1 mortgage and no car loans. So, I will be looking into that more.

Yikes! That would be freaking me out big time if the bank thought we had 3 mortgages instead of just 1! I hope that it's just a mistake someone made on the bank's part and not a fraud issue.

I don't think it is a fraud issue. Most of the time we get all 3 of my DH brothers stuff on our report because people are too lazy to check the names carefully (all 4 boys have the same initials). Once we call and verify the transactions based on SS# instead of name, it comes off our credit reports. It has happened a lot.

If it is a mistake and not fraud, AND if that is the real reason the bank turned you down - then I would say someone at the bank is either stupid and/or lazy. In the sense that the employee did not wonder why or how you would have 3 mortgages... To me, that should be a red flag and require a closer look to see if the SS # all match or are incorrect. If incorrect, the person should remove those extras from your account and recalculate whether to approve you for your own card or not. JMO... something I would be mad enough to make a stink about.

Someone mentioned no credit being bad credit. I ran into that as a young adult. I applied for a $500 Zellers card after working 2 years and renting an apartment. I was turned down for not having a credit history. That got my back up and I wrote back that technically I *did* have a credit rating based on renting and the $2,000 loan at the bank that was paid on time every month and paid off in full. I received the card shortly after.

And after renting for a couple of years, my BF (now husband) & I wanted to move into a different apartment building. They denied my application unless I had my parents co-sign the rent. Again, I saw red and pointed out how I had a steady income at the same job for a few years. And rent history behind me. Along with Bell Canada, Rogers, bank loan and a credit card. I was livid! I ended up with a better apartment and slightly cheaper rent then what I applied for. I guess too many people don't stand up for themselves.

 

[ThreeBeans]

I don't think it is a fraud issue. Most of the time we get all 3 of my DH brothers stuff on our report because people are too lazy to check the names carefully (all 4 boys have the same initials). Once we call and verify the transactions based on SS# instead of name, it comes off our credit reports. It has happened a lot.

No. This is not how it happens.

Trust me...I'm someone who has spent years dealing with repairing credit due to family identity theft.

Credit information from someone else doesn't end up on your report just by accident. If it does, it only happens once. It doesn't happen all the time, and it doesn't happen only with family.

100 dollars to one, your husband has given out your and his social security numbers to his brothers to use when they had trouble getting loans, OR his parents used all three of their social security numbers to bail them out of tough spots as they were growing up.

You have an identity theft problem.....and probably a huge family problem. That really sucks

 

[mom+3girls]

I don't think it is a fraud issue. Most of the time we get all 3 of my DH brothers stuff on our report because people are too lazy to check the names carefully (all 4 boys have the same initials). Once we call and verify the transactions based on SS# instead of name, it comes off our credit reports. It has happened a lot.

I have also had my sisters debt put on my credit report, we applied for a mortage and they said you really need to take care of this bill at this hosptial, they showed me the debt and I had never been to that hospital. It took me several days and many phone calls, gettting a letter sent by the hospital that I'd never been a patient there and then that didn't even work so I had to tell them I was calling the local news channel that handles that type of thing to do a story on this that the credit reporting agencys are not going by socials that they are going by initials of people and if people at any time have had the same address. It was not on all of my reports just one reporting agency, when they realized they had made a mistake they told me it could take 60 days for it to disappear from my credit report. I check my credit report about every 4 month with a different reporting agency each one gives you a free one once a year.

Also, I have never had to show a cc at check in. I don't have a cc. I have a travel check card from AAA but I have never been asked to show it.

 

[Dsnygrl1205]

I had someone's credit card information and address on my credit report and the only things we had in common are last name and same town so mistakes like that do in fact happen. I ended up getting it resolved fairly easily but it is scary that things like that can happen. A good friend of mine ended up having his biological fathers bad credit info on his report (they have the same name) and it took him years to get it fixed.