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Will my parents bad/lack of credit affect my credit due to shared address?

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  • Will my parents bad/lack of credit affect my credit due to shared address?


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Answer #1 | 22/12 2013 14:17
They don't affect you, your lack of credit does. Wait until you have a decent savings account to apply for a credit card at your bank. When you have a few thousand saved they might give you a small amount of credit. Then it becomes easier.
Positive: 98 %
Answer #2 | 22/12 2013 16:53
No. This cannot possibly be due to your parent's credit. They only look at records with a shared Social Security Number or a shared name. The address does not matter in any way. The reason that you get rejected is that you never had debt or credit cards. Most places won't accept anyone who has never had debt or credit cards, and will rejected everyone who hasn't.
Positive: 92 %
Answer #3 | 23/12 2013 12:19
1. Pull your credit reports from the three bureaus (annualcreditreport.com), and ensure that all of the information on all of them is yours, and correct. If not, get them corrected. 2. Bad credit is far worse than no credit. You apparently have no credit, and anyone with no credit can get a basic credit card with low limit (e.g. $500). Get one right away and start using it responsibly (pay in FULL every month) 3. You get a free credit report every year from each of the bureaus mentioned above. Check each bureau once / year, ideally staggered every 4 months to ensure they're still accurate.
Positive: 72 %

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