Partners Credit Rating House Move

SirShadowfax

Hi all,

Myself and my girlfriend are potentially moving into a property together in the next month. I have an excellent credit rating, my girlfriend's is poor.

Is it better to have bills made out into my name alone as it could drag my rating down? Or will having both our names on bills help boost her credit rating slowly and keep mine the same?

Many Thanks

[Deleted User]

Your “rating” isn’t a factor used in lending decisions and neither is your “score”.

When you say moving into a property together do you mean renting? Or mortgage?

What’s your worry here?

SirShadowfax

The property is a rented property. Sorry i'll define in an easier way.

Do standard utility bill payments affect credit scores at all e.g gas, electric,sky etc?
If this is so, would it aid my girlfriends credit score having bills in both our names or drag mine down?

I'm a little in the dark with the whole subject really haha.

Thanks

[Deleted User]

Again, ignore the score.
It’s not something any lender see or take any care about.

Not all utility companies report to the CRA’s so they may not show an account on your credit files anyway.

Sky do not report to CRA’s for instance, but British Gas do.

xlnc99

Gary - why can you answer a simple question. Not sure why you make things more confusing for the OP.

In simple terms OP the any joint bank accounts, loans or any credit you taken out with your partners name will effect both your credit ratings. So i would advise against it if her rating is poor as it will effect your own as you will be financially linked.

Google is a better option, just type in financially linked accounts. Here is one article

https://www.checkmyfile.com/articles/2917/credit-reports/guide-to-financial-associations.htm

[Deleted User]

xlnc99 wrote: »

Gary - why can you answer a simple question. Not sure why you make things more confusing for the OP.

In simple terms OP the any joint bank accounts, loans or any credit you taken out with your partners name will effect both your credit ratings. So i would advise against it if her rating is poor as it will effect your own as you will be financially linked.

Google is a better option, just type in financially linked accounts. Here is one article

https://www.checkmyfile.com/articles/2917/credit-reports/guide-to-financial-associations.htm

I did answer it.

Stop referring to fictitious ratings.
Thanks.

Moneyminded

Provided you have the means to pay the bills it doesn't much matter who's name is on the bills, yours, hers or both of you. The only thing that would affect your credit history is if you didn't pay the bills or if you had a joint bank account together, loan or mortgage together. Without joint credit (loan, mortgage, bank account) you will not be linked financially for credit application/ history/ report purposes.

For your girlfriend's credit history to improve she would need to evidence responsible money management through ensuring bills (in her name) are paid on time (utilities usually show on credit files) and ensure that she is paying down any existing debt such as credit cards or car payments.

Hope this helps. Good luck in your new home together

maxximus75

Whatever you do, don't get any joint anything.


You can always have a few bills in her name and a few in yours.

[Deleted User]

maxximus75 wrote: »

Whatever you do, don't get any joint anything.


You can always have a few bills in her name and a few in yours.

Why not?
There’s no issue in doing so