Getting credit for your wife

[tfcrew]

  I tried to apply for a store credit card, thinking it would be easier than visa/mastercard, but was denied. No reason given ..

The reason would be that there is no credit history.
A store will deny credit more quickly than a bank would.
Banks risk nothing..just as it has been forever.

Capitol Bank [mentioned above] sent my wife apps every week to sign up for a credit account. We signed her up finally but the finer charges were just too much and I had her dis-enroll and I had a talk w/ the district manager.
Haven't had anything else from them since.

Question is, why does she need her own credit account? 
If you have one, just use it and keep it simple.
Believe me, there is no real advantage. 

[ML]

Question is, why does she need her own credit account? 
If you have one, just use it and keep it simple.
Believe me, there is no real advantage. 

Yes there is a real advantage.
All persons are better off if they have stand alone credit.
In case of divorce, death, etc.

[ConnerVT]

Credit score rules have changes some over the past few years.  In the past, you could build up another person's score just by adding them to your account.  Today, this doesn't have much effect.

Credit scores are used now for many more things beside obtaining credit.  They are now used to determine auto insurance rates, as part of employment background checks, as well as landlords using them to determine if someone is suitable to rent to.

[tfcrew]

Yes there is a real advantage.
All persons are better off if they have stand alone credit.
In case of divorce, death, etc.

 This may sound surprising, but there are people who have been dead for 5 years and longer who still have credit.
 I was merely expressing that there should be no desperate hurry to acquire a credit card.

[ConnerVT]

It is easy for dead people to keep a good credit score.  They don't run out and buy frivolous things, and they are no longer responsible for their bills.   

Building a good score takes some time, as one of the key components to the score is length of credit history.  So starting the process (and sitting on a little used credit card) is certainly much better than waiting.

[Misha]

Building a good score takes some time, as one of the key components to the score is length of credit history.  So starting the process (and sitting on a little used credit card) is certainly much better than waiting.

I agree. As noted, the easiest way to do it is to get a secured credit card. Googling, I found that the Bank of America offers secured credit cards between $300 and $10,000. Simply deposit $500, for example, get the card, use it every month and pay it off at the end of the every month. In a couple of years, it will be possible to get a regular credit card without the security deposit 

[tfcrew]

  I found that the Bank of America  .. offers secured credit cards between $300 and $10,000.   

Yeah, my wife just yesterday, got the 'You're Already Enrolled' mailer from Bank un America. It should really say 'you have been selected to bend over'.
Great deal for them...they are the one's that are defintely 'secure' and they would love nothing better than to acquire $ millions of interest free accounts.
Note that they also want a $39 anally fee from all these accounts.
My true feelings of BofA could only be viewed by Psnl Mssg.

   
 

[Misha]

Yeah, my wife just yesterday, got the 'You're Already Enrolled' mailer from Bank un America. It should really say 'you have been selected to bend over'.

I don't know the American banks, but it does demonstrate that you can get a secured credit card in the United States. My wife and I got her a secured card at her local credit union. We put some money in a GIC for two years and she got her card and has been building up her credit ever since. Now, she has the card without the necessary security deposit. No annual fees, just the usual high interest rates if you don't pay which is pretty standard for all credit cards 

[BC]

Strange system all this secured and unsecured stuff...

We buy all month, get a bill and the balance is paid directly by our bank. No interest charges at all except if your bank account is in minus.

[Misha]

Strange system all this secured and unsecured stuff...

Why strange? The bank simply has a guarantee. You don't pay the credit card, they take the money that you have in the bank. Zero risk for them, hence the greater ease in getting a secured credit card when you don't have any credit history.

[ML]

. . . bend over'.

. . . they also want a $39 anally fee . . .   
 

Any connection here?

[BC]

Why strange? The bank simply has a guarantee. You don't pay the credit card, they take the money that you have in the bank. Zero risk for them, hence the greater ease in getting a secured credit card when you don't have any credit history.

Here, an automatic overdraft is pretty much built in when you open an account, usually 1 to 2 months net income, so it's your bank that ends up vouching for your credit card bills.

Works well, but as always don't screw the bank.

[Doll]

How did I get my credit card? First, my husband added my name to his, so I used it for 2-3 years. Then I wanted my own card, applied for it and had my husband co-sign it. That's it.