Posts: 5
Registered: ‎07-19-2007

My credit rating is very good and I'm interested in tryin...

My credit rating is very good and I'm interested in trying to help my son improve his scores as he's trying to get a mortgage on his first home. (He has a few charge offs on his reports and his scores reflect this.) I've decided to add him as a Joint Account Holder on my Target visa, which is a few years old, has a perfect payment history, a really low balance and 12K credit limit. My son will not use this account at all and will not be issued a card. I assumed that, once he'd bought his first home, I'd remove him from the account. However, I found out from Target that once he's added, the only way I can remove him in the future as an account holder is to close the account and apply for a new one. I'm not interested in doing this as it would shorten the age of my credit history. I currently have my son as an Authorized User. However, Target is one of those companies that doesn't report AU accounts to the credit bureaus. My question is this: Once I add my son as Joint Account holder, will the fact that it's now a jointly held account be reflected on my credit reports? In other words, will my Target account look any differently on my reports and, if so, will it affect my scores negatively at all when the change is made? Thanks!

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