Joint Account

CuriousMeerkat

My girlfriend and I have been together approximately 15 months and we are going travelling early next year. We are looking to open a joint account with Nationwide to simplify paying accomodation fees/food, and because they do not charge for cash withdrawls abroad. Once open we can move money from our own current accounts into the joint one as and when needed. When we return we are looking to rent a place together, and so will use the account to pay rent/bills out of.

My credit score is pretty much perfect; she hasn't seen hers, although the only thing she has done is go over her overdraft limit once. She only has a very recent credit card history, which has been fine. Will her credit history or lack thereof adversely affect my history? I understand there will be a financial link between us upon the opening of the account which will run until the account is closed - but how will this link affect me if I apply for a credit card/loan etc in the short or long term? If she started making late payments on her credit card, would it affect my credit rating?

I can see the advantages of us having this joint account, but to me it is a BIG thing, so I am a little apprehensive. Any advice would be most welcome!

Kavanne

All I will say is unless one of you is already with nationwide, watch out. I applied for a flexaccount with them (I already had a credit card with them) and they refused me a debit card!!

Amy83

I'm not 100% sure how much it will effect your credit rating if she fluffs up, though I'd imagine it would, but maybe it'd be easier if you opened one each?

You can take turns in paying for accom etc, and if you apply for two then you've got more chances of being accepted for at least one of them, and if on the rare chance you both get accepted, then you've got a back up card in case you loose one or it gets swallowed in a machine.

Also, I applied for a flex account last year - they send me a cash card...I went into Nationwide today to try to upgrade to a debit card as I'm going travelling early next year as well, and I was rejected (my credit score is very good - or at least I thought it was), so don't get too excited about the prospect of free cash withdrawals abroad until you get the card in your hand. As Kavanne has said, Nationwide for some reason are notoriously difficult to get a debit card out of. Go figure!

Happy travels

Amy83

And...I'm not normally one to comment on peoples relationships, but as you've only been together 15 months, you never know what's going to happen in the future. Not being negative about either you or your girlfriend, but in my mind it's better to keep things separate for as long as you can, save the financial messes you read about so often on here

CLAPTON

if your travelling in exotic places, its much better to have at least two cards each with different a/cs in case problems arise... if you only have one joint a/c and tthere's a problem (even short term ) you will be seriously embarassed fiancially

so both get a separate nationwide flex account with debtit card
plus your existing a/cs
plus a N/W CC each for when they are essential
plus one other CC each..

happy travelling.......