Joint bank account

nozzzaa

Hi,

I have recently moved into a rented house with my girlfriend and she has been paying me her half of the rent/bills etc and i have been paying them from my account.

I want to be able to have a joint account with her but i have a default on my credit score which is due to dissapear next year (my score is getting better and better)

My girlfriend doesnt want to have a joint account with me because she has been told it will affect her credit score being attached to me???

Is this true just for renting??its not a mortgage or anything and it will only be a billy basic account to pay bills out of etc

Thanks.

greenjellybean

We were in the same boat. Opened a joint bank account to pay bills from. Only once it was opened did it dawn on me that my partner's poor credit rating might have a detrimental effect on mine. We tried to change it just to my name but apparently can't do that until it's been open for a year. However, I have just been approved for a mortgage which suggests his name linked with mine hasn't had too much impact. Good luck!

jamieloft

The fact you are living together means that your credit rating will already be affecting each other. However a linked name isn't that bigger impact on your credit ratings.

KingTVYN

I would consider it a bad idea on general tbh, even though you are sharing the cost

erimus1

Hi nozzza - your girlfriend is correct, it will affect her creditworthiness if she is associated financially with you. A possible compromise for you may be to open a joint savings account with your gf that also has dd facilities. Whilst many banks do report information on current accounts, due to there being no credit facility on a savings account, they do not report these.

One thing to look out for though is that they may report a financial association on your credit file - you will have to make your own enquiries on this point. Hope this helps but please check it out first.

JohalaReewi

jamieloft wrote: »

The fact you are living together means that your credit rating will already be affecting each other.

Wrong.
Living together does not create a financial link on your credit history.

However a linked name isn't that bigger impact on your credit ratings.

Wrong.
Being financially linked to someone with a bad credit history can have a big impact on your own credit worthiness. Been there, got the T shirt (but no loan).