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How will a joint account affect my credit rating?
pinkbantam
Posts: 29 Forumite
*UPDATED* -I have now found the info, and it would be bad for my other half if I applied for a joint account with him so Ill just leave it - thanks Martin :money:
Im supposed to be moving in with my boyfriend in two months. He suggested putting joint money into one of his current accounts which we could both use to pay for things like food with cash.
This is fine but I was wondering whether this could be an opportunity to up my credit rating? At the moment my rating must be really really bad, the result of a patch of unemplyment a year ago where I didnt pay any of my bills and lived on credit which I couldnt repay. I am slowly back on track and havent missed a payment on anything for 10 months. :j However, I still have a managed loan and cant apply to get my switch card back for another three months (currently have a Solo card). :embarasse
My boyfriend on the other hand has a fantastic credit rating and has no debt apart from a student loan that he is repaying every month. :A If I apply for a joint account with him, will my bad credit rating negatively affect his credit rating? Will my credit rating be strengthened by his great cedit score? Will a bank let us open an account, even though if I tried to do this with just me I know they would decline my application?
Would really appreciate ay guidance on this as I cant find any existing advice regarding this on the site. Many many thanks in anticipation!!!
Im supposed to be moving in with my boyfriend in two months. He suggested putting joint money into one of his current accounts which we could both use to pay for things like food with cash.
This is fine but I was wondering whether this could be an opportunity to up my credit rating? At the moment my rating must be really really bad, the result of a patch of unemplyment a year ago where I didnt pay any of my bills and lived on credit which I couldnt repay. I am slowly back on track and havent missed a payment on anything for 10 months. :j However, I still have a managed loan and cant apply to get my switch card back for another three months (currently have a Solo card). :embarasse
My boyfriend on the other hand has a fantastic credit rating and has no debt apart from a student loan that he is repaying every month. :A If I apply for a joint account with him, will my bad credit rating negatively affect his credit rating? Will my credit rating be strengthened by his great cedit score? Will a bank let us open an account, even though if I tried to do this with just me I know they would decline my application?
Would really appreciate ay guidance on this as I cant find any existing advice regarding this on the site. Many many thanks in anticipation!!!
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