Getting credit enhance credit

petermortgages

Hi hoping i posted this in the right forum.

myself (poor ish credit score) and partner are looking to buy a house in the coming 12 months. She doesnt have any credit history (no credit cards, store cards or loans) all the bills are paid by me via direct debit (car insurance, life insurance, mobile phones etc) this is because when we met she was a student so money was tight for her. now we both work and earn similar amounts.

i have some cc debt which i want to shift, i have been thinking of doing the following:

asking my girlfriend to get a loan out for the credit card balance and clear it, this would be a loan in her name so this should enhance her credit file - am i right?

Or should we open a joint account (credit score problem for her being officially associated with me???) and move all bills to that and tackle the cc debt seperately?

thanks in advance.

[Deleted User]

petermortgages wrote: »

Hi hoping i posted this in the right forum.

myself (poor ish credit score) and partner are looking to buy a house in the coming 12 months. She doesnt have any credit history (no credit cards, store cards or loans) all the bills are paid by me via direct debit (car insurance, life insurance, mobile phones etc) this is because when we met she was a student so money was tight for her. now we both work and earn similar amounts.

i have some cc debt which i want to shift, i have been thinking of doing the following:

asking my girlfriend to get a loan out for the credit card balance and clear it, this would be a loan in her name so this should enhance her credit file - am i right? No

Or should we open a joint account (credit score problem for her being officially associated with me???) and move all bills to that and tackle the cc debt seperately? To achieve what?

thanks in advance.

Ignore the scores/ratings as they are made up.

DO NOT get a loan to clear the credit card debt - this makes you look desperate for cash to a mortgage lender - especially if you want to do it in 12 months time.

To improve her credit history, she needs to get a credit card, use if for normal monthly spends, then pay if off in full after receiving the statement each month, Rinse and repeat.

If you really want to get a mortgage in 12 months time you may have to go to a broker rather than a high street lender.

Regards your CC debt - try some eligibility checkers and see what they come back with regards getting a balance transfer card

petermortgages

thank you !!!.

we will be going through a broker for a mortgage.

i will ask her to get a credit card and use it wisely for fuel and pay in full etc.

the vast majority of the cc debt is interest free for 27 months (was 32 months initially)

[Deleted User]

So it's currently on a 0%?

jimbo26

petermortgages wrote: »

the vast majority of the cc debt is interest free for 27 months (was 32 months initially)

Definitely don't get a loan to pay off a CC on 0% rate, that would be madness

petermortgages

Hi !!! 75% of the credit card debt is on an interest free.

for the next few months i am going to throw every penny i have spare at my 25% credit card debt thats not 0%

[Deleted User]

Pay the 25% that isn't interest free ASAP.

Then work to clear the rest off before it starts earning interest.

How much is outstanding on each?

petermortgages

5K interest free (i pay more than min that will clear this before the offer ends)

2.2K across three cards - i am tackling the highest APR first