Reply
New Contributor
Posts: 52
Registered: ‎03-09-2009
0

Can I take my name off of a joint credit card account?

Hey guys, I turn to you again for advice.

 

My brother just got seperated with his wife. SInce he left the house around a year ago, she pretty much maxed out two credit cards that they were both joint accoutn holders. He was unaware of this untill now when he checked his credit history.

 

If she agrees to take his name off of the join credit card account will the bank do it? The two caredit cards one has limit of 10,000 and the other one has limit of 15,000, are with Fst. Commonwealth FCU. One has balance of 964 and the other card has balance of 11,500.

 

WIll bank the bank allow my brothers name to be taken off if she agrees to it?


Thanks for all your help in advance.


Starting Score: TU-775; EQ-799; EX-766
Current Score: TU-775; EQ-828; EX-828
Goal Score: TU-800+; EQ-850; EX-850


Take the FICO Fitness Challenge
Moderator Emerita
Community Leader
Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Can I take my name off of a joint credit card account?

Generally, no. Smiley Sad

 

Check over on the Divorce and Your Credit board. This is sadly common.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Frequent Contributor
Posts: 356
Registered: ‎06-25-2009
0

Re: Can I take my name off of a joint credit card account?

What makes you even think she would agree to it? 

AMEX Blue Cash - $15k, Lowes/GECRB - $10K, PNC - $10K, CIti Diamond Preferred - $10K, Home Depot/Citi - $7590, Best Buy Store/HSBC - $7400, Citi Platinum Select - $7150, Best Buy RZMC/HSBC - $5750, Dillards/GECRB - $4350, Discover More - $3600, Cap 1 Cash Rewards - $3000, Amex HHonors - $2000, State Farm - $2000, Cap 1 MTV - $1500
Highlighted
New Contributor
Posts: 52
Registered: ‎03-09-2009
0

Re: Can I take my name off of a joint credit card account?

[ Edited ]

Hi called her and said for her to take his name off the the accounts, they paid them off right before he moved out and he took the cards. She got a hold of them again and started paying mortgage with them. She said she was gonna go to the bank and will remove him, but im just not sure if the banks will go for that, especially if they have 20,000 balance. I am just not sure if they even do that, remove a name from a joint accout, but if they do, he may have a shot of getting out of this somehow.


Starting Score: TU-775; EQ-799; EX-766
Current Score: TU-775; EQ-828; EX-828
Goal Score: TU-800+; EQ-850; EX-850


Take the FICO Fitness Challenge
Valued Contributor
Posts: 1,129
Registered: ‎01-20-2011
0

Re: Can I take my name off of a joint credit card account?

 


SMikulski49 wrote:

Hi called her and said for her to take his name off the the accounts, they paid them off right before he moved out and he took the cards. She got a hold of them again and started paying mortgage with them. She said she was gonna go to the bank and will remove him, but im just not sure if the banks will go for that, especially if they have 20,000 balance. I am just not sure if they even do that, remove a name from a joint accout, but if they do, he may have a shot of getting out of this somehow.


 

If she got hold of the cards again (essentially got duplicate cards from bank/CU) while he had taken away the cards I don't see how she will let him get out of this so easily. I have a feeling that he may have to pay a huge chunk of this 12500 balance.

Amex PRG | BoA Cash rewards 35K | BoA Cash rewards 7K | Citi AAdvantage 15 K | Chase Sapphire Preferred 11 K | Chase Freedom 10k | Chase United 5 K | Chase Southwest 5K | Chase Airtran 6.4K | Discover IT 8K | Barclays US Airways 7.8 K | DCU 3 K | US Bank Flex Perks 8K | Toys r US 6 K | JC Penney 4.6 K | Macy's 1200 | Kohl's 600
Ex Fico: 762 (PSECU)
EQ Fico: 764 (DCU)
TX Fico: 773 (Discover)
Epic Contributor
Posts: 25,193
Registered: ‎10-23-2007
0

Re: Can I take my name off of a joint credit card account?

He can close the accounts and she can't re-open them... but it's not very likely to get himself removed... some banks will do it but she would have to essentially qualify for the accounts on her own before they would remove him and since they are maxed... 2 people is better then 1... i don't see it happening.

Fico Scores: EQ- 670., TU 710 Sync, EX 728 SoFi(05/04/15)
I'm just trying to catch up to RON1
95 Cards and Counting Smiley Tongue
Moderator Emerita
Community Leader
Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Can I take my name off of a joint credit card account?

[ Edited ]

+1

 

This is the pitfall of joint accounts. Each party is wholly liable for all the debt, no matter who incurred it and how.

 

Some banks (Chase?) will let one joint holder off the account, if it's paid off and if the remaining party has good enough credit to qualify on the card on his/her own. That doesn't sound like what's going on here.

 

btw, many people (including some attorneys) think that if a judge directs that one person is responsible for the debt on a joint account, the other is off the hook. Not so. The account will continue to report to the second party's reports, and creditors can and will come after the second party.

 

 

eta: creditaddict outposted me

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
New Contributor
Posts: 52
Registered: ‎03-09-2009
0

Re: Can I take my name off of a joint credit card account?

Thanks for all your replies. That is what I was thinking the case will be from reading the forums before, but I justed wanted to make sure. 

 

Once again, thank you for the information.

 


Starting Score: TU-775; EQ-799; EX-766
Current Score: TU-775; EQ-828; EX-828
Goal Score: TU-800+; EQ-850; EX-850


Take the FICO Fitness Challenge
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.