Build credit from 0

[VOL 425]

Small business revolving cards don't spool monthly to the bureaus. They only spool if they charge-off.

I verified what I wrote in the former thread with Press releases by the bureaus and score development company and my statements were accurate.

FICO through version FICO 08 - Authorized user spooled trade lines are used - limited exception: FICO 08 multiple A spools that trigger a proprietary piggyback detection algorithm would be removed from score evaluation but legitimate Authorized user trade lines will still be reviewed.

Vantage 1.0 and 2.0 - Authorized user spools reviewed in scoring.

Vantage 3.0 - Claims algorithm to consider piggy back Authorized score vs. non-piggy back.

So..... without knowing what exactly triggers the algorithm and which score model/release the credit uses, the answer can be both YES and NO.

I still think having 1 or 2 authorized user lines is good, just in case you have a situation where there could be a mild benefit. At the very least it begins the TIME IN BUREAU, OLDEST TRADELINE, LENGTH OF TIME AT ADDRESS, etc. clocks

You could be 100% correct.

I was under the impression that adding a user wasn't as effective as adding as a joint account holder.

I googled Experian "How to build Credit" and it looks like adding someone as an authorized User may well indeed help them establish credit.

[ggodoi 9]

I got a secured credit card through First Progress. I sent them $500 to open an account and then got a second one a few weeks later with another $500. They will go as low as $250 I think but I'm not certain. As soon as I used those for about 2 months I was able to get a non-secured credit card. My credit is slowly getting better. I have several cards now and pay them all off each month. Paying them off entirely is good but not good enough to pull your rating up very high as the length of time you have credit comes into play as well.

If you set up a credit karma.com account it will actually show you a list of good cards based on your own situation.

First progress is known for really high annual fees and other fees, if I were I would cancel it as soon as possible. People should stay away from first premier, first progress, credit one and other lenders like these that charge crazy high fees. I have grown my credit history for 3 years and just now applied for AOS so it's possible for anyone to do it without the gc

[User007 93]

Well! I actually got an offer for a credit card from capital one. I'm super excited! Was something I never except!

So they offer me the capital one quicksilver. 0% till December 2015 and 1.5% cash back from all purchases. After the year is 24% that is a lot but I can apply for another card. For now the limit is $300 but after 5 months if u pay on time they will change the limit to $400-$500 etc. I think is a great deal to start with a credit card and not with a secured. Or even give me a card right now...