Will taking on my wifes debt improve my credit score in the long run?

maggie127

I have a terrible credit score following a debt management program. I'm now debt free (great feeling) but my credit score is terrible and seems to be staying that way due to previous defaults that will remain for another 2 years. My wife has some credit accounts (littlewoods etc) that are paid off with my wages as she is currently out of work. I was wondering if it is worth putting these accounts in my name and paying them off, would this improve my credit history/score? It's me that is paying them after all, they just aren't in my name.

grumbler

This is likely to help with rebuilding your credit history, but you have to pass the company's credit scoring system to get allowed to take the account over.

CLAPTON

Littlewoods is generally speaking poor value for money and charge high APRS unless you can use interest free period.

thebritishbloke

CLAPTON wrote: »

Littlewoods is generally speaking poor value for money and charge high APRS unless you can use interest free period.

Even with the interest free period, their products are generally way more expensive than elsewhere.

OP: Yes it could help, but as Grumbler said, you would need to be accepted first. A credit building credit card (Vanquis, Aqua etc) will probably help you a lot more.