Additional card holder - financial association?

bearcat16

Hello everyone,

Just a brief question; I want to get my wife credit cards on my accounts so that she can collect the rewards when I'm not with her.

The question is, are "additional cardholders" then financial associates (As shown on credit reference agency files)?

Cards are:
Amex (amex issued)
Lloyds Mastercard

(if that makes any difference)

Thanks in advance!

grumbler

The answer is 'No'.

bearcat16

Ok thanks! Clear and unambiguous reply!

EarthBoy

They're not financial associates because they're not getting credit. You're the one with the credit, and you're legally the one spending the money. It's you who has to pay the bill; the additional cardholder doesn't have any legal responsibility for it. They might have a moral responsibility to pay you back, but moral responsibility isn't enforceable and the banks aren't interested in it.

Anthorn

I'm being careful in my reply to this one.

For example, MBNA rules on adding additional cardholders say they must be over 18 years of age, reside at the same primary address and be a family member defined as spouse, child, parent, sibling or domestic partner.

In the above case your spouse is likely to already be a financial associate. But since they are not applying for nor getting credit because it's on your account just adding them as an additional card holder won't alone make them a financial associate. As MBNA goes on to say, "As you're adding a cardholder to an existing account there is no need for us to complete additional credit checks."

Have a good look in the T&Cs and additional information for the cards which you have.

grumbler

Anthorn wrote: »

I'm being careful in my reply to this one.

MSE wrote:

There are currently only four products that can infer financial linking - a joint mortgage, a joint loan, a joint bank account (not savings as they don't go on credit files), and in certain circumstances, your energy bills. Being jointly named on a utility bill with a flatmate shouldn't mean you are financially linked - this should only happen when the energy firm is confident you're a couple (eg, when your bills are addressed "Mr and Mrs").
It's worth noting that while many people think they have a "joint" credit card, these technically don't exist. It's one person's account, the other just has a second card to access it.

>> Credit Scores

starM

The only one I know who will apply financial association on CRA is M&S.

This was mentioned in one of previous post sometime ago. During M&S application it also asks for partner/spouse details.

20aday

starM wrote: »

The only one I know who will apply financial association on CRA is M&S.

This was mentioned in one of previous post sometime ago. During M&S application it also asks for partner/spouse details.

I can vouch for Marks and Spencer creating a Financial Association; over 10 years ago I applied for a credit card with them (and my then partner as a Additional Card Holder).

Although I was rejected for the product an Association was added to our respective credit files.

boo_star

20aday wrote: »

I can vouch for Marks and Spencer creating a Financial Association; over 10 years ago I applied for a credit card with them (and my then partner as a Additional Card Holder).

Although I was rejected for the product an Association was added to our respective credit files.

You should probably ask for it to be removed. There's no financial link that's been produced there.

Anthorn

grumbler wrote: »

>> Credit Scores

Your point is what?

My point was that it is possible if not probable that the OP and their spouse are already financially linked.

grumbler

Well, your point was very vague as your 'careful' reply was to the question:

bearcat16 wrote: »

are "additional cardholders" then financial associates (As shown on credit reference agency files)?

Typically, links get created by joint mortgages and accounts, that isn't necessarily the case for spouses.