Will joint account kill my credit score?

HKitten

I have a good credit history. I've never had any trouble getting things like phone contracts and I've been accepted on a mortgage before now, etc etc, no worries on my side of things.

My partner however has a terrible history. He can't get a phone contract even. It mainly stems from living alone from the age of 16 when his mum moved away from home and left him there. He got into a lot of trouble. He'd managed to clear most of his debts up before I met him - he's now 27 - and we've taken care of some his small leftover debts since we've been together.

We have a joint account that our bills come out of, but we still have our own current accounts that our wages go into. What I'd ideally like would be to change this set-up so both our wages go into the joint account, then once the bills have come out I would halve the remainder between our two separate accounts.

Will this have a negative effect on my credit rating though if my wages go into the same account as his? At the moment having a single joint account for bills doesn't seem to have made a difference. But I don't want to pool our resources if it's going to plummet me into problems - my having a good credit score is still useful for us.

scottishblondie

Since you've already got a joint account then the financial link has been made. What you pay into it will have no further bearing on what your credit report looks like.

CLAPTON

I'ld say you were lucky; maybe the joint a/c isnt' being reported on your credit files
so I'ld close the joint a/c asap

Dan:_4

My partner has an awful credit history - about 3 defaults and many missed payments and she cannot even get a mobile contract. However we have opened a joint current account with Lloyds, which both our salary is paid into - it is our main account for both of us.

The financial association exists on both our credit report and shows a joint current account with each other's name, however I have had no problems obtaining credit cards, overdrafts and mobile contracts. When I make an application the search only shows on my credit file so they do not seem to search my partner's despite her being a financial association on the current account.

HKitten

Thanks guys.


I think I'll go ahead and get our wages switched to the joint account, it seems like it'll make no real difference if we've already had the joint account for 9 months with no repercussions. We're doing what we can to up his score - we never miss payments on any of our bills and I got him on the electoral roll this year as well.

Dan:_4

HKitten wrote: »

Thanks guys.


I think I'll go ahead and get our wages switched to the joint account, it seems like it'll make no real difference if we've already had the joint account for 9 months with no repercussions. We're doing what we can to up his score - we never miss payments on any of our bills and I got him on the electoral roll this year as well.

Yes it shouldn't cause any major problems.