Joint Credit Card

My daughter has a poor credit rating due to the actions of her ex-husband. I want to help her rebuild her rating. Does anyone know of a credit card that can be taken out in her name and mine that will share the responsibility for the debt but will help her rebuild her credit rating. Any other suggestions would be appreciated.
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  • la531983
    la531983 Posts: 1,664
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    edited 21 November 2023 at 10:01AM
    No, credit cards dont work like that. 

    You can add her as an additional cardholder on one of yours, thats the nearest you would get to what you want, however it wouldnt benefit your daughters credit file in any way and you would have the full 100% responsibility for any debt. So would be pointless doing really.
  • Going back in time but post-University I did have a Vanquis credit builder credit card, they seemed to be one of the few that were open to taking customers with no / bad credit ratings and whilst only having a low spending limit and high APR, it did give an option to obtain credit as a way to help increase your credit score - plus the high APR is only ever an issue if you aren't planning on paying off balances in full every month (which you and your daughter will presumably be doing).

    May be worth seeing if they'd approve an application?
  • la531983
    la531983 Posts: 1,664
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    Going back in time but post-University I did have a Vanquis credit builder credit card, they seemed to be one of the few that were open to taking customers with no / bad credit ratings and whilst only having a low spending limit and high APR, it did give an option to obtain credit as a way to help increase your credit score - plus the high APR is only ever an issue if you aren't planning on paying off balances in full every month (which you and your daughter will presumably be doing).

    May be worth seeing if they'd approve an application?
    Would be for the daughter to apply for on her own. As said, no credit card I am aware of offers joint liability.
  • My daughter has a poor credit rating due to the actions of her ex-husband. I want to help her rebuild her rating. Does anyone know of a credit card that can be taken out in her name and mine that will share the responsibility for the debt but will help her rebuild her credit rating. Any other suggestions would be appreciated.
    There is no such thing as a joint credit card in the UK, nor anything like a credit card with a guarantor. If she is trying to build up a better credit history her only option is to find a sub-prime card that's willing to take her on and then use it sensibly
  • Nasqueron
    Nasqueron Posts: 8,348
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    edited 21 November 2023 at 11:22AM
    Going back in time but post-University I did have a Vanquis credit builder credit card, they seemed to be one of the few that were open to taking customers with no / bad credit ratings and whilst only having a low spending limit and high APR, it did give an option to obtain credit as a way to help increase your credit score - plus the high APR is only ever an issue if you aren't planning on paying off balances in full every month (which you and your daughter will presumably be doing).

    May be worth seeing if they'd approve an application?
    Just keep in mind that the credit "score" is entirely fictitious and no lender ever sees it. What you need to do is build a credit history of buying on the card, paying off in full every month after the statement is issued. Even a £200 limit Vanquis, Aqua, Cap One type card would be fine to establish a period of good payments (though obviously paying less than the full balance or not making payments would defeat the purpose). OP should also get the daughter to get a mobile SIM only deal, the cheaper the better, again these are reported to the CRAs so paying the bill monthly is great for the credit record too - even £10 a month bill looks good!

    Also ensure she's on the electoral roll and not moving around a lot, address stability is good 
  • fatbelly
    fatbelly Posts: 20,215
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    edited 21 November 2023 at 11:26AM
    My daughter has a poor credit rating due to the actions of her ex-husband. I want to help her rebuild her rating. Does anyone know of a credit card that can be taken out in her name and mine that will share the responsibility for the debt but will help her rebuild her credit rating. Any other suggestions would be appreciated.
    Credit cards are not joint liability. You can add her as a second cardholder but this will have no effect. What she can do is

    Get credit reports x3 and check info is correct

    Get on the electoral roll where she lives

    See if she can get a card using the pre-eligibilty checker

    https://www.moneysavingexpert.com/eligibility/credit-cards/search/?goal=CC_CREDITBUILDER

    If so, set up a d/d to pay off in full each month

    There may be some other ideas here

    https://www.moneysavingexpert.com/loans/credit-rating-credit-score/
  • Thanks for your suggestions. I have searched for a joint credit card or one with a guarantor but had no luck so assume that the comments are correct on that. My daughter has done a lot of checking for cards also with no luck. I will mention the Vanquis credit builder credit card to her, so thanks for that. I have also suggested that she use the MSE credit card checker.

  • MEM62
    MEM62 Posts: 4,669
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    My daughter has a poor credit rating due to the actions of her ex-husband. 
    What does her credit history look like?  
  • Thanks for your suggestions. I have searched for a joint credit card or one with a guarantor but had no luck so assume that the comments are correct on that. My daughter has done a lot of checking for cards also with no luck. I will mention the Vanquis credit builder credit card to her, so thanks for that. I have also suggested that she use the MSE credit card checker.

    Be assured the responses given are correct - there is no such thing as a joint credit card, nor one which accepts a guarantor.

  • MEM62 said:
    My daughter has a poor credit rating due to the actions of her ex-husband. 
    What does her credit history look like?  
    To be honest, I don't actually know. All I know is that ex managed to take out loans in her name and default on them thus lumbering her with a bad record.

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