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mistake09
Starting Member
49 Posts |
 Posted - 22 April 2011 : 20:19:39
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| hi all, ive heard from a guy who went BR back in the 90,s and he said to help with your credit rating get a family member to put you on their credit card, basically they put you on but they keep the card for peace of mind and it builds your credit rating, anyone heard same or have times changed?? |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 22 April 2011 : 20:37:38
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Hi,
As far as I a aware it won't help you at all as the credit car is in the other persons name.
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 22 April 2011 : 21:29:20
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Jan is right, it won't make any difference as the account belongs to the other person.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
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mistake09
Starting Member
49 Posts |
Posted - 22 April 2011 : 23:05:32
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| i asked the same question and he said its called piggy backing, your named on their account as a card user, get issued with own card but they keep it, i shall ask more questions when i see him again |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 23 April 2011 : 07:55:22
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I'm pretty sure that whilst you can get your own card, the account is owned by the original person. If anything goes wrong they are liable for the whole debt.
I can't see it helping your credit rating at all.
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 23 April 2011 : 13:36:21
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I really cannot see how having a card on someone else's account will help - the account it still in their name and they are responsible for the payment, including anything on the named cardholder's account.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 23 April 2011 : 14:17:52
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Same here - although you are a nominated user your name will not be shown on the bill and if you run up loads of debt on that then the initial cardholder will be responsible for paying the debt.
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
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Topic |
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credit card/ credit rating
