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Lots of credit :/
JoesD123
Posts: 4 Newbie
So I have just moved in with my partner. I have always banked with Nationwide and HSBC, my partner has always been with NatWest. We recently opened a joint account with Lloyds bank. When we opened it they said the only product available was thier CASH account. I was shocked as we both have full accounts and ok credit. I have my bank accounts and a vanquis credit card which has a £600 limit. So I was shocked!!
With a little investigation it turns out that although my partner has not missed any payments, he has 37 credit searches in the past 12 months. Most of which are in the last 3 months. In the last 2 weeks he has applied and been accepted for:
Vanquis Visa Card - £250 limit
Littlewoods - £600 limit
Very - £750 limit
Studio - £100 limit
Will this affect my credit?? Does anyone know??
Im really worried!!
With a little investigation it turns out that although my partner has not missed any payments, he has 37 credit searches in the past 12 months. Most of which are in the last 3 months. In the last 2 weeks he has applied and been accepted for:
Vanquis Visa Card - £250 limit
Littlewoods - £600 limit
Very - £750 limit
Studio - £100 limit
Will this affect my credit?? Does anyone know??
Im really worried!!
0
Comments
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His history will affect yours now that you are financially linked by having a joint account.
If it's only searches it should only be a short term issue and will be fine again in a few months, but if he starts to miss payments or get any defaults it could have a detrimental effect on your own ability to get credit in the future and vice versa.0 -
In a word, yes!Will this affect my credit??
How many of his 37 searches were ID enquiry/quotation (perhaps insurance) type searches?
Possibly a little late now, but do you really want to financially associate yourself with someone like this?...and especially at just turned 18 years of age!0 -
Yorkshire boy: alot of them where insurance (generic checks) does that make a difference??0
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Yes, a positive one, because they're not seen by other lenders when searching your files.Yorkshire boy: alot of them where insurance (generic checks) does that make a difference??
Additionally, if you're searched when he applies for credit then resultant associate search on your file is not revealed to other lenders when they search your file for a credit application you make in your sole name.0 -
I don't want any credit, at the moment but I would like to be able to take it out in the future, when I need it. I have recently learned that paying the TalkTalk house phone bill will now improve my credit. Very excited about that!0
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