Joint Account Question

[Skye12329]

So thinking about adding my BF to one of my cards as a JA. Will it look good on his reports like as if he owns the card also? Currently we are almost done battling his ID theft so now we just need to get repairing going along and would prefer not to open any new cards if possible. So thats why we are thinking about doing JA on one of my cards.

[09Lexie]

---

@Skye12329 wrote:

So thinking about adding my BF to one of my cards as a JA. Will it look good on his reports like as if he owns the card also? Currently we are almost done battling his ID theft so now we just need to get repairing going along and would prefer not to open any new cards if possible. So thats why we are thinking about doing JA on one of my cards.

---

Being a joint account holder means that the responsibility is equally shared. If eligible, you cannot decide to remove him without closing the account and in some cases re-applying.  Lenders like Chase and Amex do not allow jt cc's.

If you are allowed to add him as joint,  in most cases his credit will be ran.  I would strongly advise against this step ESP if there are issues with lingering id theft derogs.  Get those issues off his credit and then think about the pro's and con's of jt accts. 

eta: against

[ezdoesit]

---

@Skye12329 wrote:

So thinking about adding my BF to one of my cards as a JA. Will it look good on his reports like as if he owns the card also? Currently we are almost done battling his ID theft so now we just need to get repairing going along and would prefer not to open any new cards if possible. So thats why we are thinking about doing JA on one of my cards.

---

It can't hurt but keep in mind some CCC don't factor in AU in their credit decision ex. Chase.

Why can't he just wait til he clears the ID theft from his CR.  If that is not possible then he should start with a secured card or try a CU.  I would look up some info from the rebuilding section on MYFICO.

[longtimelurker]

---

@ezdoesit wrote:

---

@Skye12329 wrote:

So thinking about adding my BF to one of my cards as a JA. Will it look good on his reports like as if he owns the card also? Currently we are almost done battling his ID theft so now we just need to get repairing going along and would prefer not to open any new cards if possible. So thats why we are thinking about doing JA on one of my cards.

---

It can't hurt but keep in mind some CCC don't factor in AU in their credit decision ex. Chase.

Why can't he just wait til he clears the ID theft from his CR.  If that is not possible then he should start with a secured card or try a CU.  I would look up some info from the rebuilding section on MYFICO.

---

OP is asking about JA rather than AU.   As Lexie says, a) much more permanent and so more risky, and b) several lenders don't support it.

[d170]

Personally, if you aren't married, I wouldn't do it.   Just way too risky. Let him work his ID issues out and then have him apply  for his own accounts.  If  you're still adamant about getting JA's together, I'd put funds in a CD in the event bills aren't getting paid you'd be able to liquidate and not harm your credit.

[ezdoesit]

---

@longtimelurker wrote:

---

@ezdoesit wrote:

---

@Skye12329 wrote:

So thinking about adding my BF to one of my cards as a JA. Will it look good on his reports like as if he owns the card also? Currently we are almost done battling his ID theft so now we just need to get repairing going along and would prefer not to open any new cards if possible. So thats why we are thinking about doing JA on one of my cards.

---

It can't hurt but keep in mind some CCC don't factor in AU in their credit decision ex. Chase.

Why can't he just wait til he clears the ID theft from his CR.  If that is not possible then he should start with a secured card or try a CU.  I would look up some info from the rebuilding section on MYFICO.

---

OP is asking about JA rather than AU.   As Lexie says, a) much more permanent and so more risky, and b) several lenders don't support it.

---

I must of been writing when Lexie responded your right I was thinking AU.  I personally would never do a JA with someone if I was just dating that includes Auto.  Also if it is a JA will the BF's ID problems stop them getting approved?  Then trying to help could also hurt yourself in the process if not approved, with the INQ ding.

[SOGGIE]

---

@d170 wrote:

Personally, if you aren't married, I wouldn't do it.   Just way to risky. Let him work his ID issues out and then have him apply  for his own accounts.  If  you're still adamant about getting JA's together, I'd but funds in a CD in the event bills aren't getting paid you'd be able to liquidate and not harm your credit. 

---

d170 I am 100% in agreeance with your advice to the OP. As long as he is not a spouse, his credit accounts should not be joint.

[TheFate]

To my understanding in order to be a Joint account holder you would need to apply at the same time as the Main account holder. Other wise it would be an AU

This was the case with my GE card for me and my Fiance

[Creditaddict]

---

@Skye12329 wrote:

So thinking about adding my BF to one of my cards as a JA. Will it look good on his reports like as if he owns the card also? Currently we are almost done battling his ID theft so now we just need to get repairing going along and would prefer not to open any new cards if possible. So thats why we are thinking about doing JA on one of my cards.

---

If your sigi is your cards you currently have you don't have any cards and banks that allow joint user so this discussion is mute.

Discover will allow you to make someone joint but many banks because of credit crash got away from the joint because 1 it was a huge loophole to getting credit with bad credit and then shedding the joint user but the few that do still allow joint for the most part I don't recommend... just add him as AU on your bigger cards (chase, Sears) maybe just 3 and then as he gets that history on his reports start to try to work in his own rebuilding of credit with new accounts.

most joint accounts if you need to part ways or want to go back to individual account will require you to flat out close it... it's a pain later.

[TheFate]

---

@Creditaddict wrote:

---

@Skye12329 wrote:

So thinking about adding my BF to one of my cards as a JA. Will it look good on his reports like as if he owns the card also? Currently we are almost done battling his ID theft so now we just need to get repairing going along and would prefer not to open any new cards if possible. So thats why we are thinking about doing JA on one of my cards.

---

If your sigi is your cards you currently have you don't have any cards and banks that allow joint user so this discussion is mute.

Discover will allow you to make someone joint but many banks because of credit crash got away from the joint because 1 it was a huge loophole to getting credit with bad credit and then shedding the joint user but the few that do still allow joint for the most part I don't recommend... just add him as AU on your bigger cards (chase, Sears) maybe just 3 and then as he gets that history on his reports start to try to work in his own rebuilding of credit with new accounts.

most joint accounts if you need to part ways or want to go back to individual account will require you to flat out close it... it's a pain later.

---

Minus shedding the joint user part this is what helped me rebuild my credit with GE. My Fiance and I applied for a GE card together while making a large purchase and her score helped me get approved. W/out that I would still be in the low 600's and I've NEVER had any problems with GE. In fact after paying off the large purchase they nearly doubled my CL