EXTRA CARDHOLDER...PROS & CONS PLEASE

exmodel

Having spent the last couple of hours trawling thru all the pages in this catagory (only got up to page 15!) I have decided if I want some answers I'd best start a new thread.

I have about 9 cards at the moment all with my partner as an additional cardholder. Recently applied for another card (Egg Blue) and was flatly turned down even tho they told me over the phone I most likely would get it as I have been with their green Egg card for over 6 months!

My partner's credit file is just as good as mine but all of our credit files show us as linked due to this. I am quite prepared to ring all the card companies today and close down the additional cards (as he has about the same amount of cards in his own name) plus close down a few of them outright as they are all paid off and/or haven't been used in ages.

My question(s) are this:
1) Will it improve my/our rating by shutting down ALL the additional cardholders on all the cards?

2) When, if ever, is it a good thing to have an additional cardholder?

Any pros and cons to these questions greatly appreciated.
I am aware that the card companies are looking at both our respective debt loads and credit limits when applying just by the fact we are 'financially associated'. I am suspecting that by disassociating the two of us it would greatly improve the chances of getting some new cards and continue to 'tart' like mad!!!lol

I have yesterday closed a couple of silly store cards like B&Q 'do it' card and Index as I seldom use them. I have my old Harrods, Habitat, Argos, Argos Additions, and some old catalogue accounts in my next 'line of fire' for mutual destruction today!!! 8) I am sure by getting rid of these hanger ons it will also help. They all have zero balances and haven't been used in donkey's years!

One last note...My partner just received the £20 from Egg for making me HIS additional cardholder so he is going to call Egg today and have that card cut off since that was the only reason for getting it in the first place! :P

Galstonian

Did you ask why you were refused?

I think nine credit cards is quite a lot - are they all in active use? Could they think you have too much debt compared to income?

exmodel

Moderator...please don't answer a question with a question. They only said I didn't meet certain criteria :-[ Thanks.
Still waiting on answers to the two in my original post!

Reaper

Many people have reported that they start having problems getting any more credit cards when they hit 9 or 10. This is likely to be your problem. Possibly dropping the second card holder may allow you to split the cards between you instead of sharing them, thereby increasing the total number. Can't guarentee it will work though.

They will also look at your total debt compared to your income. This is what Gal was suggesting may also be the problem.

I realise I also haven't answered your questions, but certainly I would suggest cancelling the cards you are no longer using, wait a month for it to filter through to the credit reference agencies and then try again.

smartsaver

1) Will it improve my/our rating by shutting down ALL the additional cardholders on all the cards?  

2) When, if ever, is it a good thing to have an additional cardholder?

Not sure I can answer point one - I supose try and see. I am interested to know why all your cards have additional card holders..

The only time I can see a benefit is if they offer you a freebie  ::) like EGG's £20.00 - or if partner needs a card they have been turned tdown for ie Nationwide card to use abroad.

Galstonian

Moderator...please don't answer a question with a question. They only said I didn't meet certain criteria :-[ Thanks.
Still waiting on answers to the two in my original post!

Sheesh, I don't know why I bother sometimes!

If you prefer:  It is impossible for anyone to say as we do not have sufficient information about your circumstances.


1) Will it improve my/our rating by shutting down ALL the additional cardholders on all the cards?  
Maybe

2) When, if ever, is it a good thing to have an additional cardholder?
It depends

And just so I end on a question, does that help?

::)

exmodel

Well as no know can give me a definitive answer I am posting what I received from Egg today when I put the question to their customer service team:


Dear *******,

To remove your partner from your Egg Card account, I would need to put a block on your current Egg Cards and re-issue one just in your name.

The whole process will take between 7-10 days. If you would like me to go ahead with this, just let me know and I can action this for you straight away.

Although this will stop there being any link on your details with us, you will also need to contact Experian to request a 'form of financial disassociation' so that it no longer affects any aspect of your credit file.

An association on your credit file can help to improve someone else's credit rating if their rating is low and yours is high. This can obviously also affect the other persons credit rating as you have found out.

Thanks for your message.

Regards,

Craig Fyfe
Internet Customer Services

Woby_Tide

so the answer was

1) Maybe

2) It depends

good work Galstonian

exmodel

Would Gal please do me a big favour and ask Martin about this as he may have a bit more knowledge then the rest of us.

[move]PLEASE!!!!!!!!!PLEASE!!!!!!!!!PLEASE!!!!!!!!PLEASE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!![/move]

Galstonian

You asked some questions, I tried to help
You berated me, I pointed out I was trying to help.
You decide I can't answer your questions but want me to help you get Martin to answer instead.


Perhaps if you approached things differently you might have more success.

Robert_Sterling_3

You might have Expected Grace & Charm from a model but....