I have a thin, limited credit file. I paid off two... - Limited/Bad/Fair Credit Questions

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » I have a thin, limited credit file. I paid off two car loans years ago, but they longer...

I have a thin, limited credit file. I paid off two car loans years ago, but they longer show on my credit history, where I have just one good account and no negative accounts. I’m an authorized user on my fiancée’s Chase card, and she just made me a joint holder on her American Express. What credit cards allow for co-signers, so that I can be the primary account holder?

Answered on | Updated on September 17th, 2012
The content is accurate at the time of publication and is subject to change.

You’d like to apply for a new card, under your name only, but you think you might need a co-signer in order to get one –is that correct?

Most cards will allow you to apply with a co-signer – often this is done by college students, who have their parents co-sign – but are you sure you really need one? You seem to have looked at your credit history, but what is your credit score? Do you have income? If you have a regular income and your credit score is above 620, you can probably get a credit card on your own, without a co-signer.

Being an authorized user on your fiancée’s cards should help your credit history too, as long as she is making regular payments and not maxing out her cards. If you don’t have any negative information on your credit report, as you say, then your credit score should be in pretty good shape. Don’t look at the number of accounts you have – look at your credit score. Here’s a guideline of the breakdown for what’s considered good, fair, excellent, and limited:

  • 850-720 – Any score above 720 is very good or excellent.
  • 719-680 – A score above 680 is good.
  • 679-620 – Scores in this range are considered fair or average.
  • 619-580 –Credit scores below 600 are considered sub-prime, and anything under 619 will be called “bad,” “poor” or “limited” credit.

Take a look at the Credit Card Navigator on our home page and fill in your credit score, along with your other credit card criteria, to find a card that’s right for you.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Perfect credit not required for approval; we may approve you when others won’t
Fair/Bad Credit
Instant $500 Credit Line. No Credit Check.
Bad Credit
Monthly reporting to the three major credit bureaus
Fair/Bad Credit

Other Questions in
Limited/Bad/Fair Credit

You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!