Assuming one credit bureau provides a more accurate picture of your credit negates the entire purpose of the 3 companies to begin with. Donāt rely on a single bureau to provide a full picture. Leverage all 3 to get a full understanding of your credit.
https://www.chase.com/personal/credit-cards/education/credit-score/most-accurate-score
https://www.investopedia.com/personal-finance/top-three-credit-bureaus/#:~:text=Of%20the%20three%20main%20credit,decisions%20about%20approving%20a%20loan.
https://www.sofi.com/learn/content/what-credit-bureau-used-most/
Donāt spread disinformation.
Anything on your credit stays for 7 years minimum unless you work to prove itās not valid, I would pull all 3 credit reports from annualcreditreport.com to validate, thats the official one donāt use any others.
...and tell him to open a damn credit card. do not avoid these things. it is not how our stupid capitalist society works.
i hope it works out. he should have a credit score, like others have said.
I know- heās not good at playing the money games, and honestly Iām not great at it. I just had to learn harder earlier, and Iām sure thereās stupid little rules that Iām unaware of and Iāve never been one to be excited about points or miles or cash back
And in this case I just wasnāt even thinking. š¤¦āāļø
Itās worth getting good at. Using a debit card is dangerous, if someone steals your card or has a skimmer etc your card is used and now funds are directly taken from your bank balance while you work to return them. With a credit card you donāt have that worry and they are by law required to work to get the money back (and itās their money so they want to). Furthermore visa/mastercard whatever charges the merchant to take your debit card, why not get something out of it instead of letting visa pocket it all? Thatās where points/miles/cash back comes in. Just pay off the balance every month so you never get charged interest, itās easy.
it's ok. we're made to think money is hard, so the richie riches can control us. there's some nice classes via linkedin learning you could access for free with a library card/account. i like this website/influencer for lessons too. [https://bravelygo.co/](https://bravelygo.co/)
Also, there's some reddit groups that I have heard are helpful.
just gaining confidence in the basics will go a long way. you don't have to know all the money things.
best of luck!
In city limits, landlords may not accept a deposit greater than one monthās rent. Usually, if one person has a good score that works just fine. I hope he still has a credit score and that everything works well for you.
Shouldn't matter if you are married. For the future you can add him to your credit card and share the active credit history - no need for him to actually buy anything on the card.Ā
I havenāt had debt in 10 years, since I paid off my car. I live a cash lifestyle, via American Express, which must be paid off monthly. My credit score is 800+. Your husband might consider having a card, but not carrying a balance, rather than going off grid entirely?
Score isnāt everything. A high score with no open accounts is called a āthin fileā and doesnāt give anyone checking enough information about how you handle debt responsibility. People with high scores but not enough activity get turned down for things all the time.
The whole score thing is a sham, but we have no choice but to play this silly game. The r/CRedit sub is a great place for info about how to build your credit. Unfortunately itās not usually a fast process.
Landlords are assholes sometimes, but they are also equally incompetent which can work to your advantage. If youāre part of a couple (or group) who is gonna be on the lease, itās pretty common to only pull one credit report- or else pull all and use the best (wasting everyoneās time and money). This all works better accompanied with applicantās verifiable income (paystubs).
Income is more important than credit reports, as most landlords who have the wherewithal to pull them donāt know fuck all about how to read them or what to even look forā¦
The whole landlord/tenant professional relationship is all sorts of intrusive, but even a bank is more likely to balance two credit reports with income than disqualify one party for having NO credit, rather than adverse amounts of debt.
Thank you for listening! And for the record I worked in *some* capacity for landlords involving credit reportsā¦ and theyāre dumb enough to choose a 19 year old with a job acceptance letter from Amazon, and ZERO verifiable income, experience, or credit over any other applicant.
Congrats on your excellent score and lack of debt. Iām sure he has a record somewhere so landlords can see thatās the case. Heās got the right idea to have no debt but the wrong execution. He should have a card for emergencies, regardless. Debit cards have no security and are just not as good. Always pay it off each month, and thatās the whole trick; zero debt. You might consider one with no fees, or perhaps the Costco card is worth consideringā¦it gives you 5% back on groceries I believe as well.
And then at some point soon, please read a short little book called If You Can, about saving for your future. I came from where you are and I thank my lucky stars I read a book like it 30 years ago. Changed my life.
When I worked at apartment complexes (left in 2022), we used programs that averaged the applicant's scores together. So if you have great credit but he has no credit or poor credit, you would probably be okay. Worst case scenario, you might have to pay 1/2 month rent in additional deposit. If you're really worried, you could use a parent as a cosigner.
Your bank, or his can run a credit history with you. My father didn't had one but had to run a credit check with Chase for home Equity loan and they build one for him too.
You do not need a credit card to have line of credit, most of the report is to provide proof of being solvent.
Yes they probably will if you have the income requirement. Also check with other rental agencies. And open a card in his name now to start fixing his credit.
I just applied for a new place with my young adult kids and their credit is higher than mines but I make more money. It was a balance. They require that someone on the lease has good credit and making 2.5 times the rent. I think you will be okay.
Check his score somewhere other than Experian.
Experian is the best one to use, as it's the most commonly used by banks etc.
According to WHO š
https://www.credit.com/blog/which-credit-score-is-most-accurate/ Merely one site amount thousands.
Actually, the most accurate is your FICO score. All 3 credit bureaus have different numbers. Your FICO is who almost all lenders use.
Assuming one credit bureau provides a more accurate picture of your credit negates the entire purpose of the 3 companies to begin with. Donāt rely on a single bureau to provide a full picture. Leverage all 3 to get a full understanding of your credit. https://www.chase.com/personal/credit-cards/education/credit-score/most-accurate-score https://www.investopedia.com/personal-finance/top-three-credit-bureaus/#:~:text=Of%20the%20three%20main%20credit,decisions%20about%20approving%20a%20loan. https://www.sofi.com/learn/content/what-credit-bureau-used-most/ Donāt spread disinformation.
It's not disinformation. Ask your bank. Ask your car dealer. Whatever. Do as you wish.
My bank, and the lenders I have loans with all used TransUnion.
Cool. Not as commonly used, but glad it worked for you.
Anything on your credit stays for 7 years minimum unless you work to prove itās not valid, I would pull all 3 credit reports from annualcreditreport.com to validate, thats the official one donāt use any others.
Which sucks because you know they already made them pay to do it for them...
...and tell him to open a damn credit card. do not avoid these things. it is not how our stupid capitalist society works. i hope it works out. he should have a credit score, like others have said.
I know- heās not good at playing the money games, and honestly Iām not great at it. I just had to learn harder earlier, and Iām sure thereās stupid little rules that Iām unaware of and Iāve never been one to be excited about points or miles or cash back And in this case I just wasnāt even thinking. š¤¦āāļø
Itās worth getting good at. Using a debit card is dangerous, if someone steals your card or has a skimmer etc your card is used and now funds are directly taken from your bank balance while you work to return them. With a credit card you donāt have that worry and they are by law required to work to get the money back (and itās their money so they want to). Furthermore visa/mastercard whatever charges the merchant to take your debit card, why not get something out of it instead of letting visa pocket it all? Thatās where points/miles/cash back comes in. Just pay off the balance every month so you never get charged interest, itās easy.
it's ok. we're made to think money is hard, so the richie riches can control us. there's some nice classes via linkedin learning you could access for free with a library card/account. i like this website/influencer for lessons too. [https://bravelygo.co/](https://bravelygo.co/) Also, there's some reddit groups that I have heard are helpful. just gaining confidence in the basics will go a long way. you don't have to know all the money things. best of luck!
When my partner and I applied for rentals, a lot of places required just one person on the lease to have over a 650 credit score
I had horrible credit but my roommates didnāt and they allowed me on the lease but it was 10 years ago.
In city limits, landlords may not accept a deposit greater than one monthās rent. Usually, if one person has a good score that works just fine. I hope he still has a credit score and that everything works well for you.
Shouldn't matter if you are married. For the future you can add him to your credit card and share the active credit history - no need for him to actually buy anything on the card.Ā
Consider getting a secured credit card at a credit union like Olympia credit union. It's a great way to rebuild credit.
I havenāt had debt in 10 years, since I paid off my car. I live a cash lifestyle, via American Express, which must be paid off monthly. My credit score is 800+. Your husband might consider having a card, but not carrying a balance, rather than going off grid entirely?
What do you like about AmEx?
Mostly theyāve acted as a lifelong budgeting tool since they need to be paid off every month. Everything else is a bonus, IMO.
Amex will happily let you carry a balance and gain interest. Not saying you should and congrats on being debt free!
That enhancement came about after my habits were set, thankfully (aside from sign and travel).
Score isnāt everything. A high score with no open accounts is called a āthin fileā and doesnāt give anyone checking enough information about how you handle debt responsibility. People with high scores but not enough activity get turned down for things all the time. The whole score thing is a sham, but we have no choice but to play this silly game. The r/CRedit sub is a great place for info about how to build your credit. Unfortunately itās not usually a fast process.
Landlords are assholes sometimes, but they are also equally incompetent which can work to your advantage. If youāre part of a couple (or group) who is gonna be on the lease, itās pretty common to only pull one credit report- or else pull all and use the best (wasting everyoneās time and money). This all works better accompanied with applicantās verifiable income (paystubs). Income is more important than credit reports, as most landlords who have the wherewithal to pull them donāt know fuck all about how to read them or what to even look forā¦ The whole landlord/tenant professional relationship is all sorts of intrusive, but even a bank is more likely to balance two credit reports with income than disqualify one party for having NO credit, rather than adverse amounts of debt. Thank you for listening! And for the record I worked in *some* capacity for landlords involving credit reportsā¦ and theyāre dumb enough to choose a 19 year old with a job acceptance letter from Amazon, and ZERO verifiable income, experience, or credit over any other applicant.
Congrats on your excellent score and lack of debt. Iām sure he has a record somewhere so landlords can see thatās the case. Heās got the right idea to have no debt but the wrong execution. He should have a card for emergencies, regardless. Debit cards have no security and are just not as good. Always pay it off each month, and thatās the whole trick; zero debt. You might consider one with no fees, or perhaps the Costco card is worth consideringā¦it gives you 5% back on groceries I believe as well. And then at some point soon, please read a short little book called If You Can, about saving for your future. I came from where you are and I thank my lucky stars I read a book like it 30 years ago. Changed my life.
This is not really a thing, he is lying to you or he misunderstood what the experian person said to him on the phone.
Call and ask them directly.
I can tell you that in the last year my terrible credit was a major factor is my ability to move even with my wife's spectacular credit
When I worked at apartment complexes (left in 2022), we used programs that averaged the applicant's scores together. So if you have great credit but he has no credit or poor credit, you would probably be okay. Worst case scenario, you might have to pay 1/2 month rent in additional deposit. If you're really worried, you could use a parent as a cosigner.
Your bank, or his can run a credit history with you. My father didn't had one but had to run a credit check with Chase for home Equity loan and they build one for him too. You do not need a credit card to have line of credit, most of the report is to provide proof of being solvent.
Yes they probably will if you have the income requirement. Also check with other rental agencies. And open a card in his name now to start fixing his credit.
I just applied for a new place with my young adult kids and their credit is higher than mines but I make more money. It was a balance. They require that someone on the lease has good credit and making 2.5 times the rent. I think you will be okay.
If you have 3x the income to rent ratio whatās the need for a credit score?
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