Credit History and Credit Check?
The thing is that my mom wants to move into these apartments but they say she needs like a co signer or sumthin b/c her credit isn't good. Well mine isn't either, but she doesn't know that and I dont want to tell her. She knows that I have student loans but I also have credit card debt as well that she doesnt know about. And she will probably want me to turn in the application in the next couple of weeks. What all will come up when they check my history? Does anybody know of any I guess "quick fixes" for my credit history? Or ways to increase my score soon?
Public Comments
- If you paid off or greatly reduced your CC balances, that would help your score but it's not likely to be reflected in your score instantly. Realistically, I don't think there's anything you can do to significantly improve your score if you only have a couple of weeks. When they check your history, the major items they'll see are - how much open credit you have - how much of that credit you were using a month ago (roughly) - and very probably they'll see how many times you've been 30 days, 60 days, and 90 days late with paying a creditor.
- sorry, but i dont think there are any "quick fixes" for credit history. your credit report should have everything about you, good and bad, but watch out, some of it might not even be yours!! well good luck!
- The landlord will probably be looking for a credit score and if it's below their threshhold for tenants, you may be rejected. There's no quick fixes for credit problems but your first priority (apartment or not) should be to get your free credit reports from all three credit bureaus (Equifax, Experian, & TransUnion). You're entitled to get them once a year at no cost to you. Start here: https://www.annualcreditreport.com/cra/index.jsp Then spring for your credit score (there's a nominal fee). This will help you get a handle on the things that affect your score and you'll get tips on how to improve your score. As an example, having an account for a long time helps your score. Defaulting on an account hurts it. Transferring balances to a new card hurts. Having a large, unused credit limit helps. Maxing out credit accounts hurts. Even if you have an account with zero balance, don't close the card. Unused credit is good. You get the picture. Even if it's not likely that you can raise your score in two weeks, it would be to your benefit to work on raising it in the long term. As for you not wanting your mother to know your financial status, that is a personal issue. For what it's worth, if you are going to live in the apt. with her, I guess it's only fair if you co-sign. And she might as well become informed if she is 1) going to share the apt. with you, and 2) believes erroneously that she can depend on your credit rating to get the apt. that she wants. I'm assuming you are gainfully employed so that you can pay your share of the rent. Good luck.
- There is no such thing as a quick fix. And with only two weeks there is nothing you can do to change what the apartment complex is going to see when they pull your credit. They will see what everybody else sees all of your past credit history for the past 7-years including any late payments, charge offs, public records etc.
- Since you are in credit card debt already it would be rather impossible for a quick fix unless you can borrow some money to pay off those bills. Your credit score drops when you rack up over 50% of your available credit. If you have 2,000 of available credit you can charge on your card and you have 1,500 owed. You need to drop below 1,000 somehow to higher your score. It doesn't happen overnight, everything takes time. The more your credit is looked at by applying for credit you score is dropped as well. Good Luck
