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Current Account - Second Card Holder?
dibba66
Posts: 33 Forumite
I'm moving in with my fiancee this weekend: I have a significant amount of debt; she doesn't. With the money we each earn, we reckon we'll be free of this debt within 2 years.
In the meantime however, we'd like to open a joint current account but have a concern. As I have been turned down for credit recently, I assume I have a poor credit score, not because I have not made payments on time, but because of the amount of debt against my name. Would opening a joint account create a financial link to me and therefore make it difficult for my fiancee to get credit in future (we have plans for example to extend the house - mortgage currently £70 000; market value £250 000 - in my fiancee's name)?
If it would be impossible to open a joint account at the moment without any adverse effect on my fiancee's credit worthiness, would it be an option for me to be a second card holder on an account held in her name? Does such a thing exist and if so, through which banks?
If the above approaches would not work, I wondered whether it would be possible instead to open the account in my fiancee's name and share the card? The logistics could be difficult but is it legal in any case?
Any help gratefully received.
In the meantime however, we'd like to open a joint current account but have a concern. As I have been turned down for credit recently, I assume I have a poor credit score, not because I have not made payments on time, but because of the amount of debt against my name. Would opening a joint account create a financial link to me and therefore make it difficult for my fiancee to get credit in future (we have plans for example to extend the house - mortgage currently £70 000; market value £250 000 - in my fiancee's name)?
If it would be impossible to open a joint account at the moment without any adverse effect on my fiancee's credit worthiness, would it be an option for me to be a second card holder on an account held in her name? Does such a thing exist and if so, through which banks?
If the above approaches would not work, I wondered whether it would be possible instead to open the account in my fiancee's name and share the card? The logistics could be difficult but is it legal in any case?
Any help gratefully received.
0
Comments
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Sorry can't help but I'd be interested in this too. I have debts, but my OH who i will shortly be living with doesn't and earns a good wage.
He has a spare current a/c which we will use for joint DD's and bills to come out of, but if he gets a card in my name (for grocery's) will he be implicated in my finances? I wouldn't want that.
Sorry to Hijak!0
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