Additional Cardholder

pbfhpunk

I've just applied for two new credit cards with 0% balance transfers and got them and transferred my balances - obviously!

Anyway, my questions is my boyfrined can't get credit not because of a bad credit history but because he has no history of credit, if I put him as an additional cardholder on one of my new cards, I'm thinking the Tesco one to get the clubcard points when he gets petrol!, will:

1) they do a credit check - or as I'll be liable for him not paying would it not matter?
and
2) will it show on his credit file and therefore help him?

Thanks in advance

pbfhpunk

The_Boss

Pretty good chance they will just add him as the debt is your responsiblity. But, it will link to his credit report with you as a financial associate. Not 100% sure about the card to be honest, as in future when they search his record, they will also search yours (if you are at the same address).

King_Of_Fools

I am pretty certain that they will not do a credit search on him, they will just make sure he exists.

I was also of the opinion that this will not go on his credit file, as the debt is in your name, so it will not help him.

pbfhpunk

I thought that now with credit reports that they didn't include records with people at the same address, as mine used to have all my lodgers on but now it only has me on it.

vwman_3

Dont know if this helps, but I am an additional cardholder with Mrs Vwman on her M and S card there is no reord of me being on her CRA files.
Also she is a cardholder with me on my Citi card and she is not shown on my CRA files both Equifax and Experian.

The_Boss

pbfhpunk wrote:

I thought that now with credit reports that they didn't include records with people at the same address, as mine used to have all my lodgers on but now it only has me on it.

In the OP's case, there will be a link due to a shared account - but they can only do the search if the person is at the same address as otherwise they wont find that person! There is no link just from sharing an address, only an account.

pbfhpunk

ok, I think I'm being really dumb, but does this mean that if I messed up and got a default on say my mortgage, would that affect his credit rating and vice versa?

Basically will it mean that whenever I apply for something in the future both our histories will be looked at and taken into consideration?

I'm sorry I'm just totally clueless at this sort of stuff!!

YorkshireBoy

pbfhpunk wrote:

ok, I think I'm being really dumb, but does this mean that if I messed up and got a default on say my mortgage, would that affect his credit rating and vice versa?

Simply having an additional cardholder on your credit card will NOT create a financial association. You will only be financially linked if you have a joint bank (current) account, joint loan, or joint mortgage etc. Why not send for your credit reports to see what lenders see when they search you?

Basically will it mean that whenever I apply for something in the future both our histories will be looked at and taken into consideration?

See above!