Joint Account - Credit rating effects

InsideInsurance

CLAPTON wrote: »

was the association showing on your credit files?

Yes, on Equifax and Experian but not on Credit Expert

YorkshireBoy

InsideInsurance wrote: »

Yes, on Equifax and Experian but not on Credit Expert

Aren't Experian and Credit Expert one and the same?

212

Out of interest, if you close a joint a/c down and send a notice of disassociation to all 3 agencies, would any 'antics' the other person got up to matter?

I.e. say you have a joint current account with overdraft etc that is perfectly managed.

Other person gets into problems and misses payments and/or defaults whilst that account is still open. Obviously during that time your credit will be affected.

You want say a mortgage so close the account and then cut the link 6 months before your application and all CRAs update - Is that then the end of the matter? Or does the fact you were linked when they were 'bad' affect you?

couponosaurus

Might be a bit off-topic, but I just wanted to advice everyone to have a joint bank account with their spouses. More rent and much easier to budget.

InsideInsurance

YorkshireBoy wrote: »

Aren't Experian and Credit Expert one and the same?

They are, I meant Call Credit

dr_adidas01

couponosaurus wrote: »

Might be a bit off-topic, but I just wanted to advice everyone to have a joint bank account with their spouses. More rent and much easier to budget.

So you would suggest this would you? Hmmmmm I wouldn't if your partner has a very bad credit file it can seriously effect your own.

I don't see how having a joint account is much easier than having 2 separate accounts would be either. You can still pay your rent/mortgage into the other persons account and they can pay these items.

If you don't trust them then open a joint savings account (as far as i'm aware these don't go on your credit files as a joint commitment) that allows direct debits and transfer money in to, pay your rent/mortgage and other joint bills.

These days with internet banking it will take minutes or a couple of hours for the funds to move from one account to the other.