CREDIT SCORE

aayush

Hi
Can I get some help
I have my name on most of the bills in my flat but some are joint does that not help my wife's credit rating as she wants to do a course that requires a loan in her name but her credit score is not high? what is the best thing to do 

bank account joint credit cards joint mortgage joint  council tax joint 
Why does Joint account not count 

sourcrates

Credit history is the important factor, the number is irrelevant.

For borrowing purposes, a good history of repaying on time, no late or defaulted payments, no CCJ`s or insolvencies, no arrangements to pay, just pay your bills on time, lots of utility companies now report to credit reference agencies.

Does she have a credit card? use it for shopping etc, try and re-pay in full every month, general common-sense things will make you more attractive to lenders.

aayush

She the account holder on our mobile account is that a good thing as it paid by dd 

MalMonroe

aayush said:

Hi
Can I get some help
I have my name on most of the bills in my flat but some are joint does that not help my wife's credit rating as she wants to do a course that requires a loan in her name but her credit score is not high? what is the best thing to do 

bank account joint credit cards joint mortgage joint  council tax joint 
Why does Joint account not count 

Hi, just approaching this from another angle, would your wife be eligible for a student loan from the government at all?

Depending on the course she wants to do, of course. 

There's some info here (from this very helpful forum) - https://www.moneysavingexpert.com/students/mature-guide/

And also here - https://www.gov.uk/advanced-learner-loan

And here - https://www.ucas.com/undergraduate/applying-university/mature-students/student-finance-mature-students

This is also very informative - don't be put off by any 'University' references because students can also get funding for college study -

https://www.gov.uk/mature-student-university-funding

It might be worth having a look to see if there is a course somewhere that your wife could do which supports applications for student loans, rather than trying to fund it herself from the outset. Repayments are better, too, that way.

PS a credit score means nothing to anyone, only your wife sees that. And you, if she wishes to show you, of course. Lenders are mostly interested in credit histories.

Just a thought and it doesn't hurt to have a good look around. 

Brie

aayush said:

Hi
Can I get some help
I have my name on most of the bills in my flat but some are joint does that not help my wife's credit rating as she wants to do a course that requires a loan in her name but her credit score is not high? what is the best thing to do 

I'm wondering why this is? 

Are you/she sure it's a legitimate course and not a scam??  I have never heard of any course that requires you providing proof of having a loan.

Flat_Earther

Brie said:

aayush said:

Hi
Can I get some help
I have my name on most of the bills in my flat but some are joint does that not help my wife's credit rating as she wants to do a course that requires a loan in her name but her credit score is not high? what is the best thing to do 

I'm wondering why this is? 

Are you/she sure it's a legitimate course and not a scam??  I have never heard of any course that requires you providing proof of having a loan.

Why do you think it's a scam?

Plenty of professional courses are not done via traditional establishments. For example, pretty much all professional accreditations require the applicant (or their employer) to pay for them up-front.

Honestly, I've kinda weirded out by you thinking that courses are not mostly paid for by those taking the course, or the ultimate beneficiary.

macman

aayush said:

She the account holder on our mobile account is that a good thing as it paid by dd 

Yes, because a mobile account means you are taking credit. The repayment method is not relevant. 
Forget her credit score, it's a fictitious number that lenders don't even see. What matters is her credit history, or lack of it.
A joint account is disregarded because it tells the lender nothing about the individual's ability to service a debt. One party to a joint account could be broke, the other a millionaire.

MEM62

aayush said:

she wants to do a course that requires a loan in her name  

No course requires you to have a loan in your own name.  Are you sure that this is not a scam? 

Ebe_Scrooge

Flat_Earther said:

Brie said:

aayush said:

Hi
Can I get some help
I have my name on most of the bills in my flat but some are joint does that not help my wife's credit rating as she wants to do a course that requires a loan in her name but her credit score is not high? what is the best thing to do 

I'm wondering why this is? 

Are you/she sure it's a legitimate course and not a scam??  I have never heard of any course that requires you providing proof of having a loan.

Why do you think it's a scam?

Plenty of professional courses are not done via traditional establishments. For example, pretty much all professional accreditations require the applicant (or their employer) to pay for them up-front.

Honestly, I've kinda weirded out by you thinking that courses are not mostly paid for by those taking the course, or the ultimate beneficiary.

It's the way the OP has worded the statement.  Of course there are many training courses that must be paid for by the individual, and are not eligible for the usual university/FE funding routes.  It's the fact the the loan, apparently, must be in her name that's ringing alarm bells.  This may just be ambiguous wording by the OP, or even a misunderstanding on their part, but it's easy to see why people are suspicious.

OP, assuming the course is legitimate then would it not be simpler to just take a loan out in your name.  From your opening post it sounds like you have what many would call a "traditional" (for want of a better word!) financial arrangement, whereby all household finances are equally shared, with no concept of "my money" and "your money"?  If that's the case, just take out a loan yourself to pay for the course.