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Rebuilding together or separately?

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Valued Member

Rebuilding together or separately?

Should my spouse and I rebuild our credit separately? Or together, as in joint credit applications or separate ones? Joint on secure cards and loans, etc. Please help with any advice.
Thank you!
Message 1 of 7
6 REPLIES 6
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Super Contributor

Re: Rebuilding together or separately?

You can build separately and just add each other to ones card as an AU.

Message 2 of 7
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Valued Contributor

Re: Rebuilding together or separately?

As someone who had all accounts as joint accounts for years, I can say you should keep them separate. That way if something happens you may not need to ruin both your credit to recover. As Medic said you can always add each other as AU's on the cards, but I don't even do that any longer.

 

 

Started Rebuild 4/2018: EX 616| TU 604| EQ 621

Current 5/28/20:


First Goal Score: 750+ Reached 3/2019

Next Goal all over 800
Message 3 of 7
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New Contributor

Re: Rebuilding together or separately?

Most credit card companies do not even do JOINT anymore, They do authorized users.

Message 4 of 7
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Moderator

Re: Rebuilding together or separately?

I'd keep cards separate and do joint on loan only if one person's income would not be considered sufficient 

Message 5 of 7
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Legendary Contributor

Re: Rebuilding together or separately?

Each consumer, even if they are spouses, have separate credit files.

Each consumer only has the right (absent a separate power of attorney) to access and update or correct their own credit file and credit report.

 

Joint accounts can appear in the credit file of each consumer.

However, consumer A cannot use a joint account status to dispute, for example, reporting to the file of consumer B.

 

Simply stated, you each conduct your own rebuilding as related to your credit report.

Message 6 of 7
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Valued Member

Re: Rebuilding together or separately?

Thank you everyone, you've helped a lot.

Message 7 of 7
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