Question about my credit report.

[fuzzybabybunny]

Um, well, I'm 21 with a credit rating of 804.

The strange thing is, on my credit report it's listing all the cards that my entire family has, not just mine:

I've had these four CC's all paid on time:

1. Student VISA - cancelled eventually
2. Some random VISA card. I don't know why I applied for it. I was stupid. Closed it immediately.
3. AMEX GOLD Rewards
4. AMEX Platinum Business

But on my credit report it's showing CC's like:

1. Discover: my father's
2. GM card: my father's

What's really weird is that my father has two other cards besides these two, an AMEX green and a Southwest Airlines VISA, and for some reason these weren't included but the Discover and GM card were

EDIT: I'm not an authorized user of the Discover and GM cards. The only card that I have my name on that's my dad's is the Southwest Airlines VISA card, which is NOT listed...

EDIT Completely off-topic, but I'm currently trying to apply for a Chase Cash Rewards Plus card. It's been a week and they haven't sent me anything yet. I called and they said it takes FOUR weeks. Huh? When I was doing my AMEX Platinum Business card I got accepted over the phone in 10 seconds and my card was in my mailbox two days later... is this 4 weeks normal?

 

[mugs]

One from each agency each year. I did all three at the same time. I'm not sure if you have to do them all within a certain time period, but I doubt it.

 

[fuzzybabybunny]

New question.

 

[ranmaniac]

I had this happen to me as well, except I also had my parents mortgage etc on my credit report. Because my father has the same first and last name, that's what caused the error in reporting. A call to the credit bureau's cleared it all up real fast.

 

[sjwaste]

Did your father include you as an authorized user on his CC's? If so, they show on your report too.

It's a common strategy to build credit if you trust the person.

 

[fuzzybabybunny]

Originally posted by: ranmaniac
I had this happen to me as well, except I also had my parents mortgage etc on my credit report. Because my father has the same first and last name, that's what caused the error in reporting. A call to the credit bureau's cleared it all up real fast.

What is this "credit bureau" that I call? Sorry, I'm new to this. Do you mean a call to AMEX, VISA, etc, all of them?

 

[MrChad]

Originally posted by: fuzzybabybunny

Originally posted by: ranmaniac
I had this happen to me as well, except I also had my parents mortgage etc on my credit report. Because my father has the same first and last name, that's what caused the error in reporting. A call to the credit bureau's cleared it all up real fast.

What is this "credit bureau" that I call? Sorry, I'm new to this. Do you mean a call to AMEX, VISA, etc, all of them?

Where did you receive your credit report from? There are three major credit bureaus in the US: Experian, Equifax and Transunion.

 

[mugs]

Your father made you an authorized user on his cards. That's pretty much the only way your score could be that high at the age of 21 (I'm 25 and have had credit cards since I was 18 or 19, and the length of my credit history is keeping me in the 700s), This is good for you.

 

[fuzzybabybunny]

Originally posted by: MrChad

Originally posted by: fuzzybabybunny

Originally posted by: ranmaniac
I had this happen to me as well, except I also had my parents mortgage etc on my credit report. Because my father has the same first and last name, that's what caused the error in reporting. A call to the credit bureau's cleared it all up real fast.

What is this "credit bureau" that I call? Sorry, I'm new to this. Do you mean a call to AMEX, VISA, etc, all of them?

Where did you receive your credit report from? There are three major credit bureaus in the US: Experian, Equifax and Transunion.

Oh darn. I did Experian this time, and I just called them and got their automated line. After providing my information, the computer said that they cannot find my account history and that I have to write them about the problem via snail mail...

 

[fuzzybabybunny]

Originally posted by: mugs
Your father made you an authorized user on his cards. That's pretty much the only way your score could be that high at the age of 21 (I'm 25 and have had credit cards since I was 18 or 19, and the length of my credit history is keeping me in the 700s), This is good for you.

Yeah, I'm actually thinking about just ignoring this

But am I bringing down my dad's credit score by tagging along?

 

[mugs]

Originally posted by: fuzzybabybunny

Originally posted by: mugs
Your father made you an authorized user on his cards. That's pretty much the only way your score could be that high at the age of 21 (I'm 25 and have had credit cards since I was 18 or 19, and the length of my credit history is keeping me in the 700s), This is good for you.

Yeah, I'm actually thinking about just ignoring this

But am I bringing down my dad's credit score by tagging along?

No. Unless you're using his cards and he's not paying them off, which clearly is not true (because it would bring your score down).

 

[chambersc]

Originally posted by: sjwaste
Did your father include you as an authorized user on his CC's? If so, they show on your report too.

It's a common strategy to build credit if you trust the person.

So if I were to include my GF as an authorized user on some of my CCs and just keep the cards in my dresser drawer, would this theoretically boost her credit score? (assuming she knows and approves of this situation)

 

[BigJ]

Originally posted by: chambersc

Originally posted by: sjwaste
Did your father include you as an authorized user on his CC's? If so, they show on your report too.

It's a common strategy to build credit if you trust the person.

So if I were to include my GF as an authorized user on some of my CCs and just keep the cards in my dresser drawer, would this theoretically boost her credit score? (assuming she knows and approves of this situation)

BAAAAAAAAAAAAAAAAAADDDDDDDDDD idea.

 

[mugs]

Originally posted by: BigJ

Originally posted by: chambersc

Originally posted by: sjwaste
Did your father include you as an authorized user on his CC's? If so, they show on your report too.

It's a common strategy to build credit if you trust the person.

So if I were to include my GF as an authorized user on some of my CCs and just keep the cards in my dresser drawer, would this theoretically boost her credit score? (assuming she knows and approves of this situation)

BAAAAAAAAAAAAAAAAAADDDDDDDDDD idea.

Wait until you're married.

 

[chambersc]

Originally posted by: mugs

Originally posted by: BigJ

Originally posted by: chambersc

Originally posted by: sjwaste
Did your father include you as an authorized user on his CC's? If so, they show on your report too.

It's a common strategy to build credit if you trust the person.

So if I were to include my GF as an authorized user on some of my CCs and just keep the cards in my dresser drawer, would this theoretically boost her credit score? (assuming she knows and approves of this situation)

BAAAAAAAAAAAAAAAAAADDDDDDDDDD idea.

Wait until you're married.

I knew you guys would rail me for that. What If i say she's not necessarily just my gf but more like my "soon to be fiance." We good now?

 

[uberman]

I don't have answers to the specific questions answered, but I can offer some information. You should take a look at your credit files occasionally just to check for errors or possibly identity theft. Call a credit counseling service and ask for the info. on the big three or is it four to get your credit reports. ( identify yourself generically, credit counseling services can show up and impact your score in a negative way) You'll be given the phone numbers to requests these files. Do so following the recorded prompts. You'll recieve your copies shortly.

Check the copies over and send them back to these agencies along with the corrections via certified mail, return recept requested. Then request the corrected copy. These credit reporting agencies are quite flaky. Realize that no one sits around proofreading these documents. All data is entered directly and they are rife with errors. Some agencies will make the corrections and send you a corrected copy.

Others will ignore your request entirely. This is why I said, "send them back to these agencies along with the corrections via certified mail, return recept requested." I have one agency that has me under more than 20 different names and they refuse to correct it. They all appear to be typos, but your going to need proof that you notified them to get the information corrected. I'm older than you guys and they've had more time to put misinformation in my file. Only one agency failed to make the corrections.

 

[sjwaste]

Originally posted by: chambersc

Originally posted by: mugs

Originally posted by: BigJ

Originally posted by: chambersc

Originally posted by: sjwaste
Did your father include you as an authorized user on his CC's? If so, they show on your report too.

It's a common strategy to build credit if you trust the person.

So if I were to include my GF as an authorized user on some of my CCs and just keep the cards in my dresser drawer, would this theoretically boost her credit score? (assuming she knows and approves of this situation)

BAAAAAAAAAAAAAAAAAADDDDDDDDDD idea.

Wait until you're married.

I knew you guys would rail me for that. What If i say she's not necessarily just my gf but more like my "soon to be fiance." We good now?

I'd advise against that. I see you're aiming for law school, so let me tell you one of the first things my 1L Property professor said on this topic: "Wait til you're married."

 

[mugs]

Originally posted by: chambersc

Originally posted by: mugs

Originally posted by: BigJ

Originally posted by: chambersc

Originally posted by: sjwaste
Did your father include you as an authorized user on his CC's? If so, they show on your report too.

It's a common strategy to build credit if you trust the person.

So if I were to include my GF as an authorized user on some of my CCs and just keep the cards in my dresser drawer, would this theoretically boost her credit score? (assuming she knows and approves of this situation)

BAAAAAAAAAAAAAAAAAADDDDDDDDDD idea.

Wait until you're married.

I knew you guys would rail me for that. What If i say she's not necessarily just my gf but more like my "soon to be fiance." We good now?

If you could do it without her knowing about it then it might not be such a bad idea, but you can't really do that. If you wait until you're married and add her then, it will have the same effect as if you add her now. Adding her now will help her obtain credit more easily now, and if she's a college student she really needs to not use credit other than student loans if at all possible.

 

[chambersc]

Originally posted by: sjwaste

Originally posted by: chambersc

Originally posted by: mugs

Originally posted by: BigJ

Originally posted by: chambersc

Originally posted by: sjwaste
Did your father include you as an authorized user on his CC's? If so, they show on your report too.

It's a common strategy to build credit if you trust the person.

So if I were to include my GF as an authorized user on some of my CCs and just keep the cards in my dresser drawer, would this theoretically boost her credit score? (assuming she knows and approves of this situation)

BAAAAAAAAAAAAAAAAAADDDDDDDDDD idea.

Wait until you're married.

I knew you guys would rail me for that. What If i say she's not necessarily just my gf but more like my "soon to be fiance." We good now?

I'd advise against that. I see you're aiming for law school, so let me tell you one of the first things my 1L Property professor said on this topic: "Wait til you're married."

Alright. I guess the authority has spoken. Thanks mugs and sjwaste.

 

[fuzzybabybunny]

Completely off-topic, but I'm currently trying to apply for a Chase Cash Rewards Plus card. It's been a week and they haven't sent me anything yet. I called and they said it takes FOUR weeks. Huh? When I was doing my AMEX Platinum Business card I got accepted over the phone in 10 seconds and my card was in my mailbox two days later... is this 4 weeks normal?

 

[sjwaste]

Well, I just reread my post, so let me be explicit. I'm a 2L But a real lawyer (property prof) told us that.

Remember, you can have her sign something that she'll be responsible for the debt and all, but since she's an authorized user, any new debt will still wreak havoc on YOUR credit report, as will late payments, etc. Not even getting into the question of her contractual obligation to eventually repay you, which she may or may not (objectively, she's gotten into spending trouble before, so its a possibility), there's ramifications to your credit in the meantime if you can't afford to pay the minimums every month until you get your money. That will be the case once you're married too, but you might as well not bring money into it until then.

FWIW, I got my gf (who'll probably be a fiancee eventually) to change her habits. She has some debt she's working to pay off and is saving to buy a house eventually. Just gotta convince her that the near term sacrifice is worth the long term gains. The key is if you're going to try to sway her, dont make it sound like you're judging her character or her person because she took on some debt.