adding a sec card holder does it creat a joint thing on credit check?

apples24

my credit rating is crap to say the least lol

however wifes is superb, she took out a card for our holiday abroad this year mainy for security incase anything goes wrong abroad, now is she got another card for me under second card holder for future credit aplications for her would it then link her to me? as that would lower her rating maybe even refusuals?

jamalfatty

No, wouldnt be linked at all - your wife would remain solely liable for the debt

Bokkens

jamalfatty wrote: »

No, wouldnt be linked at all - your wife would remain solely liable for the debt

You would be linked by association,when she has a credit check they check against her name if you want to be a "second" on a loan/credit card etc they will check your credit rating and may lower the credit offered because you are associated with the joint account.
The primary card holder will still be liable for the subsequent cards issued to husband/son/daughter etc.
This is certainly the case with American Express unless I have misunderstood their CS.

jamalfatty

Bokkens wrote: »

You would be linked by association,when she has a credit check they check against her name if you want to be a "second" on a loan/credit card etc they will check your credit rating and may lower the credit offered because you are associated with the joint account.
The primary card holder will still be liable for the subsequent cards issued to husband/son/daughter etc.
This is certainly the case with American Express unless I have misunderstood their CS.

Not true at all, no financial link is created between parties when an additional card is requested for them, and no additional credit checks are performed

Clariman

jamalfatty wrote: »

Not true at all, no financial link is created between parties when an additional card is requested for them, and no additional credit checks are performed

I'm with you on this one jamalfatty. An additional cardholder has no liability for the debt on a credit card so you will not be linked from a credit history perspective. Credit cards are different to mortgages and loans in this respect.

Clariman

King_Of_Fools

The second card could be in the name Mr M. Mouse as far as the credit card company is concerned (and, AFAIK, people have received such cards). There is no credit check done on Mr M. Mouse.

TAG

I am an additional card holder on one of DH's CC's. There is no financial link between us at all and if I decide not to pay it then he would be soley responsible for any debt I had run up.

Edited to add - That DH says he lives in constant fear

UK007BullDog

I have a barclaycard but its in hubbies name. I did get a card with my own name and the last number is different to his, otherwise all is the same. He gets the bill and also lives in fear. I dont think there is an association made as I could not find any barclaycard on my credit file.

neverdespairgirl

I don't believe it does create an association, and doesn't need a check.

WHen I (and later, my sisters and brother) turned 18, I got a card on my mother's Barclaycard account. I've not been linked with my mother, sisters or brother.

Clariman

This is the link to a Legal Issues discussion board that I have used in the past http://boards.fool.co.uk/Messages.asp?mid=10949403&bid=51110

Clariman

smithja

Hi

This has been an on-going question for a while that I have been sure the banks would add a link, as it is very much in their interest to do so. If they have not been doing it I am pretty sure they will start eventually as why would they only assess the creditworthiness of the principal cardholder when then secondary cardholder can run off with the card? This is a copy of Sainburys Bank lastest terms and conditions and as you can see if the dont do it they are about to soon.

"
I agree that information on the performance of my account(s) may be shared with Credit Reference Agencies (CRAs) and may be used by other lenders for credit assessment.
I agree that any sensitive information obtained will only be processed in order to provide the service requested.
I understand that information held about me by the CRAs may already be linked to records relating to one or more of my partners. For this application I may be treated as financially linked and my application will be assessed with reference to any 'associated' records. In addition, for any joint applications a new 'financial association' will be created at the CRAs which will link our financial records.
I am entitled to disclose information about any co-applicant or guarantor and/or anyone else referred to by me, and to authorise you to search and/or record information at CRAs about each of us. I understand that an "association" will be created at the CRAs, which will link our financial records. "

And this is the condition for issuing a secondary card:

Can I have a second cardholder on my account?
Yes, as long as they're over 18, they are an immediate family member and primarily reside at your current address. They will share your credit limit but you'll be responsible for all their transactions. We'll only take instructions from you, the principal cardholder, but we can give out information to other users of your account. To add an additional cardholder call 08701 542 543</B>*

James