Joint account before we move in, whose address?

Langkawi

Hi,

Newby, first post so any good advice appreciated.

My girlfriend and I are looking for a flat to rent together and want to open a joint bank account prior moving in.

She has a good credit score, whereas mine isn't great after losing my job years ago and getting into trouble with payments. I get accepted for overdraft & mobile phone etc, but declined for credit cards so somewhere in between.

Our question is: Whose address should we apply for the joint account at? Would opening it at her address adversely affect her credit rating, or would opening it at my address be a safer option as I have less to lose?

Also, we were thinking that if we open the account with the bank that I currently bank with then they'll be more receptive to accepting (checking account with no credit facilities required). Any comments on whether this is likely to be true?

Thanks,
Alan

CLAPTON

simply don't

if you have a joint a/c you will reduce your GF's credit rating to your own..

ajharris

CLAPTON wrote: »

simply don't

if you have a joint a/c you will reduce your GF's credit rating to your own..

That is great advice. Furthermore things can get very complicated with a joint account. It is far more simple to agree who pays what and how much but have seperate accounts. Good luck

Mr.Mulla

Remember that if you hold a joint credit account, have cosigned a loan or have authorized use of another person’s credit, these items could affect a score if they appear on your credit report. It’s important that joint account holders or authorized users understand that their credit behavior does affect the other joint account holder or main account holder. So I agree with clapton, better not do it anyway.

bristol_pilot

CLAPTON wrote: »

simply don't

if you have a joint a/c you will reduce your GF's credit rating to your own..

Excellent advice. And your gf could rack up a £30k overdraft and they would come after YOU to repay it. Maybe after you split up...hell hath no fury etc. Once opened, you would also find it impossible to close such an account without her signature. So each time you pay off her debts...she clocks up some more! Nice! Joint and several liability...you know it makes sense.