"Credit Rebuilding"

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Written by: hjm331 on 2008-07-22

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hjm331's review: Callout Comment I'm currently helping my father rebuild his credit. I haven't seen his report or scores but his credit seems pretty bad from what he tells me. He doesn't have any solid payment history since he filed BK 10 or 11 years ago. We bought a new truck in February 2008 and he co-signed and we have been making payments on-time. Capital One sent him a pre-approval offer last month, applied for the card, and was approved for basic Cap 1 card with a $500 limit.

Today, I helped him apply for a basic HSBC card without any rewards. He was instantly approved for a $300 limit with no AF as of yet. This is great because he gets a second chance at rebuilding his credit and I will help him all I can with the knowledge I've gained here on FG.

I would like to recommend cards from HSBC and Capital One for rebuilding and can't emphasize enough for consumers to NOT apply for cards like First Premier.

Remember, Capital One and HSBC based their approvals off the on-time payments we have been making with the truck. They are not high limits but definitely a great start.


Comment 1 by mrrob
Great Job User Icon on 2008-07-22

Remarks Hjm331, I think it is wonderful that you are helping your father rebuild his credit. You're on the right track. I am doing the same for my niece (helping her to rebuild her credit), she's young but a bit irresponsible, but she's learning. Great job and keep up the good work
Comment 2 by hjm331
RE: Mrrob User Icon on 2008-07-22

Remarks Thanks, I'm young myself. I'm only 19 years of age but I'm blessed with some good credit cards from the big banks. I'm glad that you are helping your niece build her credit because having good credit is very important nowadays.

My parents use to have great credit until they ran into some financial trouble, My father is happy that he is on the right track to having good credit again, it makes life easier for all of us in the family.
Comment 3 by rwmtd
What You Are Doing Is Awsome User Icon on 2008-07-22

Remarks Hi Hmj331, I too think it is great that you are helping your dad with rebuild his credit. You are to be commended because not many 19 year olds have the persistance or maturity to handle business like you do.
Comment 4 by brian23
Same.... User Icon on 2008-07-22

Remarks I think the same way HJM, if only when I was 19 I was as smart on finances and credit as you, I wouldn't be in the position I am in today. But, I take it as a learning experience, and good job helping your dad!!!
Comment 5 by arod
I AGREE ... User Icon on 2008-07-22

Remarks These cards started everything for me and this a bright new start.

and in time your father will have all the good cards.

Good Luck,

Comment 6 by meya
Way To Go Pops! User Icon on 2008-07-22

Remarks Again, I agree with everyone in here. You are a very kind person and your father should be proud to have a son as bright and intellegent as you are. That is very nice what you are doing HJM331, keep up the good work and count your blessings. I know you will have him with bofa and AMEX in no time... Lol!
Comment 7 by mark
Great Job! User Icon on 2008-07-23

Remarks You're doing a great job dude!

good luck!

way to go!
Comment 8 by thomas1
WAY TO BE A GOOD SON User Icon on 2008-07-23

Remarks Congrats on your dad getting 2 new cards to start him off again! I'm sure it makes you feel good that you were able and had the knowledge to help him, thanks in part to FG. I'll bet his confidence is soaring right now... Credit nowadays is extremely important, and I'm sure in no time with a good payment record, he will receive bigger and better offers.

Way to be a good son, man!
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