0
== {| |- | Joint credit cards can work both ways. Since the credit card account is placed on both holders' credit accounts, the activity on the card as a whole affects both parties equally. So, if the card is maintained properly, it can help improve credit. However, if one of the card holders abuses the card and ranks up thousands of dollars in debt, it can adversely affect the other holder's credit rating.
== Yes. Both good and bad. If you screw up, it will affect your partners credit and vice versa.
A good idea for married couples is to keep a joint account, but also each of you keep your own individual account.
If you are not married and getting a joint account with someone to establish credit, don't do it. You don't need to do this, and shouldn't. |}
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Can you build credit if your guardian adds your name to their credit card?
Probably not because the credit would still be in your name. The guardian would only be able to use the card, but wouldn't be responsible for the charges. The only way to build credit is if the CREDIT, ie the responsibility is in their name.AnswerIf you are referring to being an authorized user of an account, it would not help you to establish a personal credit history. If you mean becoming a joint account holder with the other person then you would be able to establish your own credit history. Keep in mind, as a joint account holder you could be responsible for the entire debt if the other person does not pay their share,(and vice-versa).
If your husband is the primary card holder does that give you credit history in a joint account?
Yes, as long as your listed as a "Co-signer" on the account. Credit is not build if you are just an "Authorized User" if this was a credit card account. Lastly, this all assumes that whatever this joint-account is that it reports to credit.
Is a financial association created on your credit report when two people apply for any type of joint financial account?
Yes, anytime you open a new credit account, even if it is a joint account, it is reported on your credit report either when it is opened or when it is unpaid.
How do I get my business to have credit?
You need to spend to establish credit. The general steps are to establish your entity, open a bank account, secure a credit card, and begin establishing credit through purchasing.
If you are specified as an authorized user on a credit card account that is not a joint account can your credit score increase?
No, only the primary cardholder's credit score is affected.
Can an joint account affect a credit score?
yes it can, both parties are equally responsible for the account
Can you be on a joint checking account with bad credit?
You can be, although it will be undesirable to the person you're sharing the account with.
Is a joint applicant's credit affected by a car repossession?
If this relates to a joint account holder or cosigner, then yes the person's credit rating will be affected by a repossession. Yes, whoever's name the car is in will be affected by the car's repossession. Only if the car is somehow tied to the account. Only a bad payment history on that joint account can affect your credit.
You have bad credit and someone is helping you to bring your credit score up will doing a joint account with you make the person credit rating fall because i have bad credit?
No, the only thing that would affect their credit is the joint account, so just make all the payments on time.
How can credit card compaines prove there is a joint account?
A signature on the application.
How do you establish the journal entry for petty cash?
[Debit] Petty Cash account [Credit] Cash account
Can you open a credit card account for your child to help him establish credit?
I am not completely sure of the age, but I am seventeen and my sister is sixteen and my mother was able to get each of us a credit card. Her purpose was also to help us establish some credit. Of course we are on her account though, but the cards are in our name.
