Sister's Credit Card

mistiforme

I declared myself Br in May of this year

Everything has gone fairly smoothly so far.... No sign of trouble ie BRU or an IPA I know they have until I am discharged to impose these.

Anyway I know you will all think she is bonkers but my sister has offered to let me be an additional cardholder on her MC credit card mainly just for emergencies and buying bits and bobs from the T'Net.


She knows my history

Will this create a problem for either of us? vis-a-vis financial associations or breaking the rules of my Br

Any advise greatfully accepted

Misti

Gerrard_8_lfc

Maybe Im old skool but you don't seem to have the ability to pay back credit therefore should have none. Pay Bills before you think of taking on more debt.

mistiforme

Is that a definative answer or just your opinion?

nuttyrockeress

As an additional cardholder no searches etc will be completed on you just your name is added onto the account as an add CH.

So long as you ensure you pay back what is owed to your sister which i'm sure you will things will be ok -although you won't build up any rating for yourself this time as you are only an ACH

Doucam

You are not allowed to take credit of more than £500 without telling the company informed that you are BR. Even though you are BR you are still talking about taking credit out again.

Personally, I wouldn't do it. We have survived without the use of a credit card, we got a cashplus credit builder pre-paid card, we can use it for stuff on the internet and so on, but with the money you have.

jonliv

There will be no implications for you or your sister

If your sister wants to take the risk and she knows you are a bankrupt On her head be it

Trying not to be judgemental I have no idea why you went BR in the first place

Good Luck anyways

Jono

nervousbankrupt

Doucam wrote: »

You are not allowed to take credit of more than £500 without telling the company informed that you are BR. Even though you are BR you are still talking about taking credit out again.

Well, actually mistiforme wouldn't be taking out any credit - they would be purchasing items using the sister's account/credit. So it's not really a valid comment.

Doucam

nervousbankrupt wrote: »

Well, actually mistiforme wouldn't be taking out any credit - they would be purchasing items using the sister's account/credit. So it's not really a valid comment.

Well I thought it was a valid comment thanks for that.

If you want to split hairs then technically speaking no misti isn't taking credit in their name, but they would be purchasing things using credit in someone elses name.

As I also said since we went BR and have been discharged we have had to learn to budget and live within our means, which has been hard but we have managed, even when the fridge freezer broke down, it can be done, and we purchase things of the internet using our prepaid card which also gives nice green ticks on the credit report which is helping us for the future.

I am not having a go at you btw misti, or being judgemental, you asked a question and I answered lol !! xx

philnicandamy

and for the record??

I told my OH's CC compamy of my bankruptcy (before I was discharged) and they declined me as a second cardholder..

Doucam

So phil, misti's sister would have to tell the cc company that misti is br then?

whisper7832

Hi Mistiforme,

Up until last night I had the opinion that everyone who got into debt deserved whatever problems they suffered. Harsh I know but I was brought up in a family with no money and my parents had the attitude that if you don't have the money, that don't spend. I have always been against taking out loans, etc even as a student I never did. Credit cards no no. Ironically enough though you build up your credit rating by having credit cards, etc. So reluctantly I took out a credit card and try hard to spend on it but make absolutely sure I pay everything at the end of the month.

As I said, up 'until last night'.

I found out that my sister has a loan that she's paying back at 30%. A loan that she took out under duress when she was with her partner... as well as credit cards etc. This is a sister who I love absolutely dearly and so obviously i was in tears all night and am so stressed with the whole thing.

What i'm trying to say is, if YOU know that you wont let your sister down and not be silly with the card then definately go for it. It's useful for buying things on the internet, etc. It shows how lovely your sister is to put you as an additional card holder. We all make mistakes in life, and everyone should be allowed a chance to redeem themselves. I'm sure one day, when the time comes, you'll be there for your sister in whatever help she needs.

Apologies for all the waffle!

Bestest wishes