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I'm thinking about getting added as joint (not AU) user on credit card. Need advice.

Valued Member

I'm thinking about getting added as joint (not AU) user on credit card. Need advice.

I have been reading like crazy for 3 weeks and it seems everyone says NEVER get added as joint user for any reason but want some opinions please. 

 

On my Ex I only have a 5 year credit history and am thinking about getting added as joint on my moms $700 JCP card that she has had for 35 years.  

 

I have 0 baddies, 0 inq on Ex and 5 accounts with 28% utl and next month or two utl will be less than 9% but there is not much more I can do to bump score except get added as joint to gain huge history.  

 

I know if my mom misses a payment it will kill my score and there wont be anything I can do about it but she has never been late in 35 years so I'm not that worried about it.   I also read that I'm not be able to be taken off the card without totally closing the account but that's OK. 

 

I think I understand all the risks, did I miss anything? 

 

Opinions?

 

Also I found out JCP does not report AU so that's why I want to do joint instead. 

 

 

Thanks 

Message 1 of 5
4 REPLIES
Moderator Emerita

Re: I'm thinking about getting added as joint (not AU) user on credit card. Need advice.

I think  that the one thing that you may have missed is consideration for the much safer "Authorized User" status. As an authorized user, the account will report, but should something go wrong (lates, or default), you can have your name removed.

 

As a joint, you would both legally own the account, and be equally responsible. As an authorized user, you would get the benefit of the good, and could legally 'duck & cover' should there be any lates, defaults, or max-outs.

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Message 2 of 5
Valued Contributor

Re: I'm thinking about getting added as joint (not AU) user on credit card. Need advice.

This is your mother and she has a great track record, then do what is best for you.

 

Done

Message 3 of 5
Moderator Emerita

Re: I'm thinking about getting added as joint (not AU) user on credit card. Need advice.

The only reasons that make this halfway OK are:

--1 It's your mom. Try to remember that if you mess up, it will hurt her credit.
--2 As this particular card doesn't report AU's, joint is the only way it will help.

I would still never, ever recommend going joint on a card, especially with a spouse/ significant other. Stuff happens.
* 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
Message 4 of 5
Valued Member

Re: I'm thinking about getting added as joint (not AU) user on credit card. Need advice.

I completely agree with you about spouse/ significant other and actually the only person I would do joint cc with is my mom.  I will never use the account so no real chance of me screwing her up. 

 

 

Thanks guys 

Message 5 of 5