Is this my credit score?
I just applied for a school loan through pnc with a cosigner. After i applied, PNC has emailed me with a document attached about my credit score. Is this score mine? or is it my cosigner’s? or mixed? The document only had my name in the title and never mentioned my cosigner.
I’m a student and this is my first private school loan. Last year i received some subsidized and unsubsidized loan through the school. I aslo have a credit card but i’m not sure how that works. My dad, my siblings and I have credit cards with the same credit card number and my dad pays for it all. and each of our cards has our own names on it.
with all that, is it possible the the document with the credit score is mine? i looked it up and the score is in a good range.
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August 9th, 2011 at 11:27 pm
Yes, it is your score.
You are an authorized user on your father’s credit cards. This means that the accounts show on your credit report and are included in your FICO score. This only works for spouses and kids. You are getting the benefit of your father’s good history on those credit cards.
On down the road, after you’ve graduated and established credit in your name only, you should have your father remove you as authorized user on his cards. Authorized user accounts sometimes create problems. Specifically, the accounts get included in your debt to income ratio even if you never pay a cent toward those cards. It could disqualify you from a home mortgage or car loan.
August 9th, 2011 at 11:27 pm
From what you say, it sounds like the cosigners score.
You have no credit history to base a score on.
August 9th, 2011 at 11:27 pm
Yes, it is your score.
Were you approved or not?
August 9th, 2011 at 11:27 pm
It’s your score.
There is a new law went into effect 7/21/11 requiring lenders who do student loans, credit cards or vehicle loans to give the credit scores to customers who are either turned down or offered less favorable terms.