03-30-2009 06:17 PM
When I got married my wife's credit was miserable. After 5 years of marriage we still have no joint credit.
I know you can add someone as an AU.
Can you convert an account established as an Individual into a Joint account?
Alternatively, can you convert a joint account into an individual account?
I was DENIED a new Barclay's card because I already had sufficient credit on other Barclay's cards.
Does being an AU have any effect (help, hurt, neutral) when they apply for an individual card?
Someone once told me that in order to title the house or car in both names then both names must be on the mortgage or car loan.
If both spouces work and have their own incomes, is their any advantage to apply for joint credit cards?
Thanks in advance for your replies.
03-31-2009 03:57 AM
03-31-2009 11:57 AM - edited 03-31-2009 11:58 AM
Agreed. Use AU if it helps and makes sense, but joint account removes all the options. I am not an AU on any of my wife's cards, but she is AU on most of mine. The reason, she tends to carry a balance on some of her cards and my low/no balance accounts help dillute her utilization on her accounts. (She doesn't actually carry my cards around for use).
For example: She has a few thousand on her BoA. I don't carry any. My account reports zero balance. Therefore her utilization is cut in half related to BoA. In the future if a problem arose, we can remove her as AU and dipute CRA.
In the meantime, her balances do not affect me, because I am not AU and so they don't report.