US Bank HP both ppl to add joint owner

[Birdman7]

So, as expected, USB does a HP on both applicants when adding a joint owner to a CC. Not a big surprise. Oh, well. I even spoke to UW and tried to get a pass with a SP or anything....no dice and they insisted I unfreeze., LOL.

[Duke_Nukem]

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@Birdman7 wrote:
So, as expected, USB does a HP on both applicants when adding a joint owner to a CC. Not a big surprise. Oh, well. I even spoke to UW and tried to get a pass with a SP or anything....no dice and they insisted I unfreeze., LOL.

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Ouch.  I'm assuming that "joint owner" is the same as an AU?

If so, do they HP only during the app for the card or also pull the HP when added later on as an AU?

[FinStar]

Joint ownership is different than AU from a liability perspective. Both joint owners are equally responsible and liable for the tradeline whereas an AU is not.

[Birdman7]

As @FinStar said they are definitely different. And they HP later on when adding a joint owner, both people.☹️

[imaximous]

I'm not sure what product you're trying to add a joint owner to, but I'd avoid that if it's not necessary and add an AU instead.
@shadowfactor went through this with his Altitude Reserve and he said it was very annoying. He couldn't remove a joint owner from the account as you would an AU. The joint owner doesn't get his/her own set of benefits either. So it's like having an AU, but you have to take a HP hit to be added, and then you can't remove the person.
He ended up closing the account, and re-applying for the same card to be able to remove the joint owner.

[Shadowfactor]

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@imaximous wrote:
I'm not sure what product you're trying to add a joint owner to, but I'd avoid that if it's not necessary and add an AU instead.
@shadowfactor went through this with his Altitude Reserve and he said it was very annoying. He couldn't remove a joint owner from the account as you would an AU. The joint owner doesn't get his/her own set of benefits either. So it's like having an AU, but you have to take a HP hit to be added, and then you can't remove the person.
He ended up closing the account, and re-applying for the same card to be able to remove the joint owner.

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^^^^^^

It was a PITA. There's not a single benefit I got out of the situation. I even got barred from getting my own bonus on the Altitude as USB now has lifetime language on the card. The manager that handled the closing and opening felt bad for me and comp'd me 10K points and told me to use the travel credit on the card before I closed the old card.

highly advise you add the person as an AU , but it sounds like its too late now.

[AverageJoesCredit]

I dont know if its just me but seems having joint ownership of a credit account is a bad idea. Not saying all marriages or relationships end badly but seems one less headsche to worry about if they do.

[SBR249]

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@AverageJoesCredit wrote:
I dont know if its just me but seems having joint ownership of a credit account is a bad idea. Not saying all marriages or relationships end badly but seems one less headsche to worry about if they do.

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It could make sense in some situations. For example, if you need to be able to handle an account for someone who otherwise also financially contributes to the joint ownership. Such cases would be couples where one is planning for end of life or where one has some sort of disability. Another case would be for military families where one partner is deployed and cannot manage their accounts easily while away. 

tl;dr joint ownership is the way to go if account management duties need to shift between the account holders periodically or even on occasion. It can be difficult as an AU if something official came up and the principal on the account is not immediately available. 

[AverageJoesCredit]

Great point @SBR249, thsnks

[Birdman7]

It’s definitely convenient to be able to add and remove an AU and it’s definitely not possible with a joint owner, you’re right, you have to close the account typically. However, the joint owner is entitled to all the same benefits as the other joint owner, AFAIK. In my experience the benefits are the same, as are the responsibilities.

Another big difference is this, under FICO 8 an AU may not count for age, whereas a joint account ALWAYS will. Yes, I would not have wanted it as an AU. But it all depends upon your purpose.