Help build credit score...

shortstuff88

Hi,

please could somebody help me? my partner has a low credit score as he has never had any kind of credit and is looking to build this. If I add him to my credit card as a user will this help boost his rating?

MoneySaverLog

No, your partner needs to get their own card

simeyb

No is the right answer, but perhaps more helpfully, the point is that your card is your debt and your sole responsibility - when you add someone as a second cardholder, you are simply allowing them to use your account. Neither would your OH see any entry about a second card on their CRA file as, again, it is your debt and your responsibility alone.

Therefore, it won't be of any help to building his CRA file - he needs something in his name.

BrookesAndrew

Best way to him to build his credit score is to get a card himself, that is pretty much the only way to do it. If he has a bad credit rating then try using one of the cards designed to help you boost your rating. The APR is a lot so only use it for things that you would usually just buy with his own cash.

http://www.moneysavingexpert.com/credit-cards/bad-credit-credit-cards - Hope this helps, let us know how you get on.

shortstuff88

Thank you for your help guys, we will look into getting him a card as recommended!

The_Boss

He doesn't have a credit score until applying for credit. He will be assessed differently depending on product and lender. You are never told by a lender what your score is.