Joint credit card holders

2004arron

Hi. I’m new to the credit car scene and have an ever improving credit score.

I have 2 credit cards and was looking to make my partner a card holder on 1 account. Her score isn’t as good as mine.

Would her score increase as well as mine if she became a holder?

Thanks

[Deleted User]

There are no joint credit cards - always an account holder and supplementary cardholders.

Her credit file won't report her card usage, only yours. However, it could create a financial association (although it normally doesnt), which would impact you.

Neither of you have credit scores, just credit files. The scores the CRAs give you are just gimmicks for entertainment purposes only. Don't use them to drive any decision making.

2004arron

Thank you for that. We already have a joint account to pay for our shares in the family Home.

How much impact would an associated person have on your files?

[Deleted User]

It's difficult to say as lenders will take different views, and it varies by product.

Being financially associated to someone with a poor history would be much more of a concern for a mortgage lender than a card provider.

You can close the account and financially disassociate, but it very much depends on your circumstances and how you want to move forward as a couple.

What are the specific issues with her credit files? Are there things you can address - unsettled defaults, excessive borrowing, not on the ER etc?

Dobbibill

She could get a credit card of her own to build some history of managing credit responsibly.

How much of a chequered past she has would depend if she will be accepted. She could try a sub-prime lender like Aqua or Cap 1 to start with - as long as she doesn't do lots of applications. With hefty APR though, she needs to use a little and pay off in full on time.

But in answer to your question - your card will report to your file, not hers as zx81 said.

2004arron

We had a child a few years ago and she defaulted on a few payments, if I was aware at the time I could have helped.

She’s a nurse and financially secure but gets refused car finance on 2 occasions.

She’s been paying off her creditors every month so hopefully things will improve.

I’m suggesting she gets a credit card to boost her score but she’s concerned she’ll get rejected

[Deleted User]

2004arron wrote: »

I’m suggesting she gets a credit card to boost her score but she’s concerned she’ll get rejected

She should get one to boost her HISTORY (her score will decline, so should again be ignored).

If she's rejected, all that will show on her files is a credit search, which is insignificant.