My girlfriend is twenty six and has zero credit. I want to help her build a credit history so we can eventually buy a house. My concern is that while currently my credit is in good standing, and my overall scores are on the upswing I did have a lot of trouble in the past. Would my checkered credit history affect her in a negative way, considering that I am currently in good standing with all of my accounts?
Oh, and I would trust her with all my assets in cash, so that's not a concern at all.
2007-09-06 03:32:58 · 13 answers · asked by Ricardo Montalban 2 in Business & Finance ➔ Credit
As of January 1, it will have no effect on your credit or hers. The process, called 'piggybacking' was done in order to raise people's poor credit, by adding them to the cards of people with great credit.
The credit bureaus are no longer going to take this into consideration.
2007-09-06 03:39:10 · answer #1 · answered by Chief BaggageSmasher 7 · 1⤊ 0⤋
Andy do not put her on the credit card--- it serves no purpose cause the card is under your credit... Let the Miss 26 year old do her own credit application in her name and social security number only....Andy she has no credit cause she does not pay the creditors... If you marry you inherit her bad credit $$$---you will not get a mortage or the dream home...Andy -- I care about people especially nice guys who meet pretty girls and start assuming all of the girls debt.... Also, would make a criminal check-- if there is nothing wrong she will not care---OK ... She is 26 and I believe she has lead others down the tear jerking song of I don't have credit....Cut the credit card off if you decide not to listen to me and Miss 26 gets put on the card at $2000....absolutely no overdraft.. This is done with the credit card company.... I know that your brain is dizzy and things are unbeliveable with sex... Don't let the little head do all the thinking of the big head.... Long engagement.
And a credit check---might have to pay for the check---ok..
2007-09-06 04:09:48 · answer #2 · answered by Gerald 6 · 0⤊ 0⤋
Your past credit history will not hurt your girlfriend because the only thing that will show up is the credit card account that you add her to. If this account has been paid as agreed and you add her as either a joint or co-signer it will help her credit.
Authorized users no longer get credit for being added to someones credit cards as of September 1st.
2007-09-06 03:44:56 · answer #3 · answered by ? 7 · 0⤊ 0⤋
Are you nuts? She could ruin your credit and then you would be in the same boat as her. She (not being your wife) needs to get her own credit card and build her own credit history. She should find one that is secured with cash. They allow you to put a cash amount in the bank to secure that amount of credit. Then as long as she makes her payments on time and does not default, the bank does not touch the cash deposit. Eventually she should be able to apply for other cards that do not require security.
2007-09-06 03:43:22 · answer #4 · answered by kba1a 3 · 2⤊ 0⤋
Adding her as an authorized user on your credit card will have no impact on her credit rating. Credit is linked to SSN, so the card will have to be in her name. The only way to improve her credit will be for her to apply for a credit card in her name under her SSN. You can help her pay on it if you want to.
2007-09-06 03:45:00 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Because the credit bureau's no longer use piggybacking it wont help one way or the other to add her as an authorized user. You would have to add her as a joint user for it to have any baring on her credit.
2007-09-06 03:57:51 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Since the account is in your name and you were granted the credit card on your merits, it will have no effect on her credit since she is not liable for the account. It's just like adding one of your minor children to the account, they are just an additional card holder.
2007-09-06 03:42:49 · answer #7 · answered by Anonymous · 0⤊ 0⤋
It would help her because time is one of the best factors to boost credit. She will have access to the length of time you have been with that credit card, which will boost her score, but that's all. your other credit issues won't affect her.
2007-09-06 03:41:39 · answer #8 · answered by cashmaker81 6 · 0⤊ 0⤋
If you add her as an authorized user, it won't affect her credit. If you add her as joint, it will as she will be equally responsible.
It is such a bad idea to co-mingle finances with someone you are not married to. Everything is just wonderful now but if things fall apart ....
2007-09-06 04:06:44 · answer #9 · answered by bdancer222 7 · 0⤊ 0⤋
No, it basically effects the credit of the guy who opened the account. She might must be a co-proprietor of the account to result her score. basically putting her call on the account as an approved consumer does no longer something.
2016-10-19 22:43:42 · answer #10 · answered by ? 4 · 0⤊ 0⤋