Can I get a credit card under my parents address

NathanJ99

Thanks for all the advice, I was pretty sure I was in the right but being new to the whole credit game I though my I would double check.

It’s seems like all they can hold against me is that it was ‘rude’ of me not to ask them, they’re remortgaging the house this year and think this could somehow affect them even though I already have credit agreements in the form of a phone bill and car insurance?

They found out as I left my credit card on the side then world war 3 broke out, if I had the money to move out I would but and I also wouldn’t have a credit card with only £200 on it

Jami74

Sounds like they are worried, both about how it might affect their credit rating and about you getting in debt. Sometimes parents over react.

As you want to carry on living there maybe you can provide them with some information about it and reassure them that you are intending to use the credit card sensibly to improve credit history rather than for spending money you don't have.

terafarma

NathanJ99 wrote: »

My parents have recently discovered that I have taken out a credit card and due to the fact that I still live with them it’s at their address (I’m 20 btw)

They seem to have a massive issue with this as they believe that if I can’t pay my debts then they run the risk of the address being blacklisted. I’ve looked into this and it seems like that’s not the case at all and hasn’t been for years, debt is linked to the individual not the address and I don’t have any financial connections to them (joint loans or accounts etc)

Their argument is that I should have notified them before taking this out and want me to cancel it or are threatening to put in a fraud case against me.

I appreciate I should of told them out of principle but my question is am I legally obliged to do this and if I refuse to cancel the account is there actually anything they can do about it?

Not that it matters too much but the card only has a £200 limit and I’m using it to start building my credit rating

Wow your situation and the scenario that you've just posted here is just a mirror image of my home. My 23 year old son who works but who still lives at home came to me and said, "dad, I would like to have a credit card, what do you say"? Considering that he is absolutely not very savvy about the workings and pitfalls of credit card use, I then went into what they term as my "long lecture", which by my own understanding is guidance and direction the adult way. I asked him all the key questions and answers how best to make use of credit cards. His main concern at first, just like yourself was him taking out the card in his name under my roof.

I told him point blank that as an adult, he is responsible for his own finances and all obligations thereof whether under my roof ir not. He actually wanted to get a credit card to build up his credit profile as the only "major" credit reference point is his EE mobile phone contract. Don't know if he's applied for any yet but adviced him that his first port of call could be his bank or somewhere else that would offer him such facility. You're an adult, what I expect your parents to do is guide you through and not threaten you as there's nothing they can do in this regard. I would go one more step in praising you for being such a level headed courteous son in telling them about it in the first place which you didn't have to do.

My advice to you, be sensible with the card if and when you get it. It's a debt and not a special spending time facility but a necessary financial tool in some ways if managed well. The very same advice that I gave to my son just last week. Good luck young man!

nick74

It used to be the case 20+ years ago that the credit files of everyone who lived at the same address were automatically linked. However a change in the data protection laws in the late 1990s put a stop to that practice. Nothing on your credit files can have the slightest effect on your parents, or their future mortgage application. You have done absolutely nothing wrong.

I suggest you move out asap, but purely for the sake of your own sanity!

Ebe_Scrooge

NathanJ99 wrote: »

they’re remortgaging the house this year and think this could somehow affect them

I wonder if this is the cause of the misunderstanding ? If they are under the misapprehension that the fact you live at the same address means you are financially linked to them, then you could perhaps understand their concern - if you mess up, it'll affect their credit history.

Obviously this isn't true (credit is linked to you, not your address), but it is a fairly commonly-held belief. Have you sat down to them and calmly explained that the address has nothing to do with it, and any financial mistakes you may or may not make will not in any way be linked to them ?

DCFC79

Your not building your eating, your history is what your improving.

MallyGirl

DCFC79 wrote: »

Your not building your eating, your history is what your improving.

or maybe

you're not building your rating, your history is what you're improving

eskbanker

terafarma wrote: »

I would go one more step in praising you for being such a level headed courteous son in telling them about it in the first place which you didn't have to do.

OP didn't tell his parents in the first place, that's at least part of the problem:

NathanJ99 wrote: »

They found out as I left my credit card on the side then world war 3 broke out

terafarma wrote: »

My advice to you, be sensible with the card if and when you get it.

As above, he obviously already has the card....

System

The OP does have a right to privacy but whilst he is staying with his parents, they do have a overarching rights too.

Although, the address won't be blacklisted - debt collection and court papers could appear if the card isn't managed properly.

I would suggest the OP goes paper free and negotiates with his parents (if they are happy for him to retain the card) but this might be a time to start planning your own place if possible.

System

Heng_Leng wrote: »

and negotiates with his parents (if they are happy for him to retain the card)

It is literally NOTHING to do with his parents. He is legally and financially an adult.
Whether they are happy or not has exactly 0% impact on this situation.