YACCT- Credit Card Question....

[dxkj]

Wife orders credit card, puts my name on it as well. Do both of our credit scores get affected by this, or just hers? (its good, not bad) 🙂



Thanks

 

[LuckyTaxi]

i was told only the primary cardholder (your wife) is the one affected. hence, she is liable for whatever you purchase.
i wonder if this is true in regards to credit rating. my fiance has no credit history and i added her to my credit card. she's been using it for a while now.

 

[dxkj]

Originally posted by: lilcam
i was told only the primary cardholder (your wife) is the one affected. hence, she is liable for whatever you purchase.
i wonder if this is true in regards to credit rating. my fiance has no credit history and i added her to my credit card. she's been using it for a while now.

I think you can get "joint" credit cards. IE someone with a good credit history gets a join card with someone who has none (in other words, vouches). Then you use that card, and it affects both of you.

 

[rh71]

Isn't this how young kids build credit ? By having a joint account with an established credit holder ? I think that's how my mom did it for me when I was like 14 and started working.

 

[randomlinh]

i've always wondered this myself. i never had a joint account tho, once you get into college, boom boom boom 🙂

 

[Yossarian]

Originally posted by: rh71
Isn't this how young kids build credit ? By having a joint account with an established credit holder ? I think that's how my mom did it for me when I was like 14 and started working.

I don't believe so. You can't legally sign a contract if you're under 18 so the kid isn't liable for any debt. What you're talking about is putting someone's name on the card as an authorized user.

 

[phonemonkey]

Regardless of whether she was put on as a card holder or as a co-signer (co-applicant), both credit histories will be affected by the status of the account.

 

[RossMAN]

Please clarify something.

1) Did your wife apply as an individual applicant and added you as an AUTHORIZED CARD HOLDER (meaning you did not provide your social security number, date of birth or employment details)?

2) Are you an actual applicant, you did provide your your social security number, date of birth or employment details and you signed the credit card application as well?

 

[LuckyTaxi]

Originally posted by: RossMAN
Please clarify something.

1) Did your wife apply as an individual applicant and added you as an AUTHORIZED CARD HOLDER (meaning you did not provide your social security number, date of birth or employment details)?

2) Are you an actual applicant, you did provide your your social security number, date of birth or employment details and you signed the credit card application as well?

For me I think I just added her as an authorized user.
I dont remember them asking for her SN or anything about her job status and income

 

[dxkj]

Originally posted by: RossMAN
Please clarify something.

1) Did your wife apply as an individual applicant and added you as an AUTHORIZED CARD HOLDER (meaning you did not provide your social security number, date of birth or employment details)?

2) Are you an actual applicant, you did provide your your social security number, date of birth or employment details and you signed the credit card application as well?

#1, so im assuming if you both do #2, then you both will be affected by it.