Is becoming an additional Card holder the answer?

mountainofdebt

I've been aware now for a while that one of the best ways of tackle the credit card debt that hubby and I have is for the debt to having it on low/zero interest bearing cards.

However to get hubby to arrange for BTs on his cards is a nightmare and very often we end up arguing over me nagging him about this.

Whilst I've been in the past willing/able to transfer the balances on his cards onto cards in my name, I can appreciate now that I am no longer able to get the better deals because of my credit/income ratio and have applied in hubby's name for some of the deals out there that are around, for which he has been accepted. However we are having the same arguements about him arranging the transfers.

So would becoming an additional cardholder on these accounts be the answer? What are the implications for me becoming an additional cardholder - eg would there be any effect on my credit/income ratio so when I applied for new cards (after closing down my old ones!) I would have the same problem I have now? Also would the CC companies allow me (as an additional card holder) to make balance transfers?

grumbler

mountainofdebt wrote:

What are the implications for me becoming an additional cardholder - eg would there be any effect on my credit/income ratio so when I applied for new cards (after closing down my old ones!) I would have the same problem I have now?

No. AFAIK there is no information about second cardholder in credit files. See also:

credit/2nd account holder

Also would the CC companies allow me (as an additional card holder) to make balance transfers?

Possibly, principal cardholder can make some special arrangements so that the second cardholder could have access to the account over a phone, but *I think* the general answerer is NO.

aliasojo

Have to disagree with you a little on the last point grumbler, I'm afraid. OH and I are in a similar position.....I'm the one who deals with everything but it usually has to be in his name as he is main earner. He hates dealing with this kind of stuff and is useless at it anyway (if MBNA offered him 69.9% he'd probably thank them!)

I usually apply for new deals (with me as second cardholder) but get him to sign the form and I deal with stuff thereafter.

We mostly transfer online so after (him) initially registering, it's me who logs on and does whatever is needed, athough I have also made transfers by phone without having to put any special arrangements in place. I can't remember all the accounts I've done this with, but the latest was with Halifax.


Edited to add: Although transferring isn't a problem, the cc companies wont discuss things like bt rates etc. If you want to renegotiate a bt rate at the end of a 0% period for example, it still has to be the main cardholder who deals with it. They wont entertain a second cardholder for stuff like that.

klondyke

Same for me! But every now and then, hubbie decides to login for himself, can't remember the password, gets himself another without telling me or remembering what it was! Now he wonders why I have a load more money in savings accounts than he has (mainly the stooze money done in my own right!)

Ah well, can't win 'em all!

mountainofdebt

Thanks for your comments...definitely food for thought.

Luckily enough it seems I can access his Texaco card over the internet so guess who's made a BT on his behalf tonight!

It's such a stupid situation though....hubby was only commenting last month how much we seem to be paying in interest charges. I'm quite happy to do the shuffling for him but on the odd occassions I need him to phone the credit card company it's like pulling teeth to get him to phone!

Clariman

I agree that being a second cardholder will make little difference and that using a card that you can manage from the Internet is probably the most practical approach. Although, strictly speaking, passing on security details is likely to be against the card Ts & Cs.