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jenanigans

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Brother added me as an auth user to his cc how long to wait to apply for my own
About a month ago, my brother, who has excellent credit and a little more than a decade worth of credit built, added me to each of his cards as an authorized user. Within the month and a few days, my credit scores have risen between 180+ and 200+ points. I know that I need to get my own credit cards as well as look into home loans and auto loans at some point in the next 6 months to a year. I am wondering when is the best time for me to apply for any of these things-card, auto loan and home loan? Any advice/suggestions are welcome! Thanks in advance!

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Your headed in the right direction

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But don't rush to quickly into those large loans like a mortgage.  The length of your history will have a bigger impact on larger loans, and you don't want to be denied for those becuase that would have a very negitive impact on your scores.  When doing a Personal loan or home mortgage, Talk to your bank or credit union and "Pre-Qualify" so that you know that you can secure the loan in advance.  2 Advantages to this, one, you'll know for sure that you can secure the loan, and two, you'll know how much you can spend comfortably and can use that as a negotiating tool.

Good luck

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Good Question

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I would start now because length of credit history makes up 15% of your FICO score. I would apply for 1 credit card and 1 installment loan to get started. Go to your local credit union/bank and ask them about their credit building programs. I hope this helps!

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