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credit/2nd account holder
tiger
Posts: 293 Forumite
in Credit cards
i am think of putting my friend on my visa card as second account user /holder as she has no credit history.do you think that will improve her credit history?
thanks guys.
thanks guys.
are you thinking what iam thinking :T
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Comments
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It will not affect her credit history at all. It is your name on the credit agreement and you are responsible for making all the payments.0
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you mean it will not improve her credit history?.i know am responsible for all the payments.are you thinking what iam thinking :T0
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No it will not improve her credit history. The credit reference agencies only have details on the person who signed the agreement and who was searched. This is you. She will be an "additional cardholder" - her purchases go on your statement and she shares your credit limit but none of this goes on her file. The bank issues her with the card a fact the credit agencies know nothing about.0
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thanks manare you thinking what iam thinking :T0
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I concur with cifpower. It will make no difference whatsoever to her credit history, because the debt would be your debt not hers. Personally, I would never give a friend a card on my credit card account - no matter how good a friend they were. They may be good friends today but things change, but you are potentially putting your own credit history at great risk.
ClarimanAuthor of the first Stoozing FAQ on the Internet and Creator of the SOA & Snowball calculators at Lemonfool.co.uk0 -
There was a post elsewhere a little while ago referring to someone who lent a contract mobile phone to a friend who then went on to rack up a huge bill that the owner couldn't afford to pay.
Whilst it isn't a credit card the same thing could happen to you, and as is said above you'll be responsible.0 -
Leicestet Boy That Was Not Ma Question Pleas.sorry I Was Just Putting The Name On There Not Letting Her To Use It.are you thinking what iam thinking :T0
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