Added on a parents credit card?

S0rin

Hey,

Im a student and have been rejected to every cashback credit card I have applied for.

Whilst applying I noticed that it gives people the option to add a family member to there card, would it be possible for one of my parents to apply for one of these cashback cards and just add me to it and just give me the sole use of it?

In this case I presume I would get a seperate card with my own name on it?

CLAPTON

yes but your parent would be responsible for your debt.
it wouldn't improve your credit rating

mrcow

And it won't make you popular with your parents if you mess it up

bengal-stripe

At least the parents won't sell the debt (if there is one) to some Debt Collecting Agency.

mrcow

bengal-stripe wrote:

At least the parents won't sell the debt (if there is one) to some Debt Collecting Agency.

:mad:

No but the credit card company may well sell the debt to some Debt Collecting Agency!

Then who's going to pay the bill, plus the interest, plus the penalty fines, plus the agency fees, plus the court costs?

Haycorns_2

Maybe Sorin will pay on time and it not be an issue ... give them a break

mrcow

Haycorns wrote:

Maybe Sorin will pay on time and it not be an issue ... give them a break

Maybe they will?
Maybe they won't?


After all, who cares if it's someone else's credit rating you're playing with?

Davidboy

Both my daughters have a credit card on my account, it is all about trust and I trust them, they are both at uni, and I prefer it that they have a way of getting out of trouble should they need it. They both drive too, so again it gives me peace of mind.

They are free to buy what ever they like with th CC, but they must pay me before I get the CCbill. It has worked fine for me and for them.

If your parents trust you, then there should be no problem, just don't abuse that trust!!

D

Zippy2006

Sometimes its a blessing in disguise to get rejected for credit cards.

Have you looked into cash back debit cards? Same principle but money comes out your account faster.

Remember the only way a cashback credit card works is if you pay off the whole balance every month.

S0rin

Ah cool thanks for replies, most of my expenditure is the uni fees + petrol money + car insurance and with 1% back on just those is worth doing it. I will try and get one sorted,

Never heard of cash back debit cards though, will have a look at those.

grumbler

Davidboy wrote:

...They are free to buy what ever they like with th CC, but they must pay me before I get the CCbill. ...

And what's the point in using the CCs in this case? Isn't it easier to use their debit cards?

Zippy2006 wrote:

...Have you looked into cash back debit cards? Same principle but money comes out your account faster...

The only cashback debit card I know is with Halifax Moneyback Current Account . It requires min. £1000 monthly credit. Do you really think this is for a student?

S0rin wrote:

Ah cool thanks for replies, most of my expenditure is the uni fees + petrol money + car insurance and with 1% back on just those is worth doing it.

I have serious doubts that you can pay the uni fees with a credit card ...