so I'm old and have been established for a long time. only had house loans for last 15 years.no other loans,and 3 major credit cards,which i pay almost all way off monthly. so has things changed? here's my situation
my son active duty military E4
only credit card is "star card" used to buy clothing/ groceries/whatever on base credit limit $2,000 (he has never had more then $600 on it) has paid on time every month for last 19 months.
when came home from Korea last month he paid cash for a 2011 ford fusion 50k miles.fully loaded out moonroof and all paid $7k
now he wants to get a small loan to buy a "supermoto" bike to ride around base $6,000 or less USAA and Navy federal are trying to give him intrest rates between 7-15% because of "limited credit history" his credit score is a 719.
what do you all think? get some credit cards and let him build credit for next year B4 he gets a loan,so his credit score goes up and he has a better intrest rate?
He did get a Verizon plan on his own ( they wanted 40% down on I6 but i paid for it in full) and now he has a monthly bill of $85/with discount which i assume should help his credit
i know "store" credit cards would be easy for him to get macy's,Belks, walmart all at a whopping 24.99% and I dont like that..............so any of you young guys,what did you do to "establish" yourself???
THANKS,from a old mama
my son active duty military E4
only credit card is "star card" used to buy clothing/ groceries/whatever on base credit limit $2,000 (he has never had more then $600 on it) has paid on time every month for last 19 months.
when came home from Korea last month he paid cash for a 2011 ford fusion 50k miles.fully loaded out moonroof and all paid $7k
now he wants to get a small loan to buy a "supermoto" bike to ride around base $6,000 or less USAA and Navy federal are trying to give him intrest rates between 7-15% because of "limited credit history" his credit score is a 719.
what do you all think? get some credit cards and let him build credit for next year B4 he gets a loan,so his credit score goes up and he has a better intrest rate?
He did get a Verizon plan on his own ( they wanted 40% down on I6 but i paid for it in full) and now he has a monthly bill of $85/with discount which i assume should help his credit
i know "store" credit cards would be easy for him to get macy's,Belks, walmart all at a whopping 24.99% and I dont like that..............so any of you young guys,what did you do to "establish" yourself???
THANKS,from a old mama