Joint Bank account with my partner

petermortgages

HI, i want to sort out a joint account for expenses between myself and my girlfriend.

the issue is, my credit score is average, hers is better.

i have read a few things saying her credit score is dragged down because of association, is this true?

thanks

eskbanker

Credit scores are just arbitrary numbers made up by credit rating agencies to sell their services, but yes, it is true that a joint current account will create a financial association that links the account holders' credit files, so proceed with caution (or just use a savings account with no credit implications): https://www.moneysavingexpert.com/loans/credit-rating-credit-score/#linked

Zero_Sum

Why do you need a joint account? If you're a bit rubbish with money then just give her some money every month & let her manage it.

18cc

Yes I would advise against a joint account unless absolutely necessary your credit files will be linked and create a financial Association much better to just transfer some money and do it that way

ValiantSon

OP, as a month ago you were looking at getting a joint mortgage this may be something of a moot point, because a joint mortgage will also cause your credit files to be linked.

https://forums.moneysavingexpert.com/discussion/5860554/getting-a-joint-mortgage-with-poor-credit