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Question By
faerieprincess87

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Joint accounts not helping my credit
I don't have much of a credit history according to the bureaus. I got married young (age 20) and hubby and I have practically everything jointly. We're both authorized users on our credit cards, we have a timeshare mortgage under both of our names, the rent for our apartment was under both of our names.

But when we went to purchase a car, my credit wasn't good enough... that is to say.... my credit history was pretty much non-existent. The only thing on there was a student loan I paid off 5 years ago. My hubby's getting the credit for EVERYTHING! His credit score is almost 800, and mine's hovering somewhere in the 600s. Why is he getting the credit and I'm not?

Is there a way to improve my score? Should I tell him to put the utilities under my name or something so I have an actual account with only my name on it? We only have the 2 credit cards, and we'd like to keep it that way, if we can.

Also, we just bought a home, and the bank managed to squeeze me onto the mortgage (they didn't want to, but by the grace of God, they allowed me on it with no credit history). Will this help my score? Or will hubby get all the credit for that, too?

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Authorized User vs Joint Cardholder

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Being an authorized user of a credit card isn't enough to give you credit anymore. You must become a JOINT CARDHOLDER, Not all credit cards allow these, but if yours does then become one! The entire history of the credit card will be acquired by you, as well as staying on your husbands' credit. My husband (who immigrated here from England) had the same issue, everything was in my name. But making him a joint cardholder meant that he suddenly had a better credit score than me! You shouldn't need to take out any new lines of credit, and putting your name on utilities won't help. Just become a joint cardholder!

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From day one make it yours alone.

Helpful to 1 out of 1 people

For a woman, it is imparative that you establish your seperate credit from the get-go.  First, get a credit card in your name only.  One with a small balance works at first.  Use it wisely and pay it off every month.  If you are looking at possibly not paying it off every month then you do NOT need those shoes this month.   If you cannot pay the whole amount, please do not pay the minimum pmt.  Pay as much as you honestly can.  Second, get a second & third card (no more), alternate their use.  If the cc ups your balance it does not mean you can afford that balance.  It just means they deam you are more credit worthy.  It helps to have a good record on more than one card but that does not apply if you have an excessive number of cards.  My husband has only one cc which he uses wisely but I have a significantly higher credit score.  The only difference in how we manage our credit is the number of cards we each hold.

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Getting Credit Where Credit Is Due

I have a similar problem.  My partner and I have an arrangement......he pays certain bills and I pay on his credit cards that are only in his name. I cannot get credit for paying on a timely manner. Also we both own the house and car. He gets all the credit on the vehicle and I paid for the house, but that doesn't count. My name is first on the deed.

My credit went down and his is very good. Mine is labeled as " poor", in the 60s.

Yes, what can se do?

Kath

Reply by
bikerman58

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Try getting small loans in your name. go to the bank or cu that you bank with and ask for a small loan. that will get you started.  Keep the small loans on time and it will help your credit slowly.  But it is worth it to take the time to do. Also go to your bank or cu where you bank they know you try to get your fiancing for your car there. They are more likly to give ou a loan than someone that dont know you. Hope this helps

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how to incounter credit

Helpful to 1 out of 2 people

Apply for a secure credit card.Thats what i did myself though capital one . I send in my deposite of $ 200 they then sent me a secured cared. I kept making extra deposits i brout it up to $ 500. I then kept making my payments every month in full and after 6 months of having capital one they sent me another offer for a normal credit card though credit one bank out in Vegas . i  Applied they approved me for a starting credit limit of $ 400 and now they recently incrised to 550 from the orginal $ 400. So if i can do it its posible because i had horibal credit like in the low 300's and now its 712 but make sure you make your payments in full every month thats key. Best of luck to you.

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