If you add someone as an additional cardholder are you 'financially linked' to them?

ceremony

I'm considering adding someone as an additional cardholder on one of my credit cards.

My credit history isn't great (but is healing with time). Theirs is also a mess, for slightly different reasons, but I 100% trust them to only use the card in an emergency. We don't live together.

If I were to add them, would we show up as financial associates on each other's files? I appreciate I'd be responsible for the money if they ran up a huge balance, and I'm not worried about that part. I'd rather not go into details but I want them to have access to an 'emergency fund'. I'm more worried about us being 'tied together' on credit files.

Thanks

Batesy1976

No, you're not linked to them.

phillw

ceremony said:

I'm considering adding someone as an additional cardholder on one of my credit cards.

Additional card holders don't get section 75 protection. They would be better off applying for their own credit card.
 

ceremony

phillw said:

ceremony said:

I'm considering adding someone as an additional cardholder on one of my credit cards.

Additional card holders don't get section 75 protection. They would be better off applying for their own credit card.
 

Thanks. It's not for Section 75. I just want to give them access to money in an emergency without having to transfer it to their bank account (their home situation is, well, let's just say delicate).

ceremony

Batesy1976 said:

No, you're not linked to them.

Thanks. That's what I suspected but just wanted to make sure!

SuperAllyB

Not sure about other banks, but Santander insist that additional cardholders live at the same address as the main account holder, and for the last year or so have required proof before activating the additional card.

ceremony

SuperAllyB said:

Not sure about other banks, but Santander insist that additional cardholders live at the same address as the main account holder, and for the last year or so have required proof before activating the additional card.

Thanks. Aqua asks you to declare that the person lives at the same address too (no idea if they check but I'm not planning on committing fraud when I've only just started to rejoin the financial world!), but the Post Office credit card allows you to add someone who lives at a different address, by the looks of it.

Nebulous2

I think there might be variations between companies. We had some reports a while ago about M and S creating a financial association with second card holders. 

Some people were unhappy and complaining about it, but I don't remember a final outcome.

pbartlett

John Lewis card doesn't require that the second cardholder live at the same address

born_again

ceremony said:

I'm considering adding someone as an additional cardholder on one of my credit cards.

My credit history isn't great (but is healing with time). Theirs is also a mess, for slightly different reasons, but I 100% trust them to only use the card in an emergency. We don't live together.

If I were to add them, would we show up as financial associates on each other's files? I appreciate I'd be responsible for the money if they ran up a huge balance, and I'm not worried about that part. I'd rather not go into details but I want them to have access to an 'emergency fund'. I'm more worried about us being 'tied together' on credit files.

Thanks

Unless this is a family member, then think long and hard. They run up a debt on your card. It is YOUR debt to pay back.
Many a friendship has gone sour & debts run up over good intentions like yours.
Also what you are planning will not help them build their credit history.

One man's emergency is another's necessity.

Maybe better to say that you are there to help when needed in a emergency. As you could fund it other ways.
That leave you less exposed.

ceremony

pbartlett said:

John Lewis card doesn't require that the second cardholder live at the same address

Thanks for the heads up. I'm not quite 'prime market' yet but that could be handy for the future.

born_again said:

Unless this is a family member, then think long and hard. They run up a debt on your card. It is YOUR debt to pay back.
Many a friendship has gone sour & debts run up over good intentions like yours.
Also what you are planning will not help them build their credit history.

One man's emergency is another's necessity.

Maybe better to say that you are there to help when needed in a emergency. As you could fund it other ways.
That leave you less exposed.

You're talking sense. They aren't an immediate family member but in this case I'm willing to risk it. The card I'm thinking of adding them on has a low-enough limit that I could eat the cost if they abused it without it being anything more to me than an irritation. 

It's not about building up credit history. It's simply that I want them to have access to some emergency money. I didn't want to go into details but they're in an abusive relationship. Their partner controls their bank account and monitors their phone. Giving them access to a low limit card they can stash at work and use to book a train ticket or summon a taxi to get to a trusted place to stay once they're 'ready' is a calculated risk.

The other option would be to give them a prepaid debit card with a similar amount, but either way I'm giving them the money. I'm distrustful of prepaid cards though because one of the youth places I worked with before COVID uses them for expenses and transactions randomly fail to go through. 

If they abuse my gesture I can revoke their card and I'm only out a few hundred pounds.