Adding name to family member

dranzer01

is it possible if i wanted to add my name to my sisters existing credit card? will that perform additional credit checks etc?

bigadaj

Shouldn't do but a credit card can't be held jointly.

If she added you as an additional cardholder then she would be liable for the debt that you would run up on that card.

dranzer01

so credit cards cannot be held jointly but bank accounts can...?

eskbanker

dranzer01 wrote: »

so credit cards cannot be held jointly but bank accounts can...?

Yes, that's correct.

jonesMUFCforever

Can I ask why you want to be on your sister's credit card rather than have one in your own name?
Whilst a credit search is not normally done for a secondary holder an ID and bankruptcy search will almost certainly be done.

dranzer01

i cannot get a credit card (poor credit)

i was looking around and i read that if you add yourself to someone elses card/account and you keep up with payments, your credit gets a boost...

That was what I was looking for/to do....

TadleyBaggie

Except it's not your account, and it won't show up on your credit history. So no matter how well you manage it, it will have no effect on you (only the account holder).

dranzer01

i see -

so the best way to boost my credit in this kind of situation would be to do a joint application with someone whose credit is deemed excellent?

example, if someones credit is excellent/good/above average and mine is poor or bad, would you think it will still get accepted?

MallyGirl

but you would have to find someone with good credit history who was mug enough to want to be financially associated with you. That would negatively affect their credit whilst you try to improve yours

eskbanker

dranzer01 wrote: »

i cannot get a credit card (poor credit)

i was looking around and i read that if you add yourself to someone elses card/account and you keep up with payments, your credit gets a boost...

That was what I was looking for/to do....

Probably worth reading http://www.moneysavingexpert.com/loans/credit-rating-credit-score for info and tips on how to rebuild credit rating....

pvt

dranzer01 wrote: »

so the best way to boost my credit in this kind of situation would be to do a joint application with someone whose credit is deemed excellent?

As has already been said, there is no such thing as a joint Credit Card. It is always in one person's name, with additional cardholders that have no responsibility to repay the money, so it will not be reported to additional cardholder's credit history with CRAs.

You could see about a joint loan or such like, but the other party (your sister in your case) should think carefully about this as it will create a "financial association" between you, and that will impact her credit rating negatively if yours is pants.