My daughter has just called me as she is going on holiday in a few months and wants to hire a car abroad. Her boyfriend will be driving as he is over 21. She is not. The company has said that she cannot pay for the hire on her credit card as it has to be the drivers card and they will not accept alternative payment such as cash. While she has a very healthy account and credit rating her boyfriend does not and he has started bankrupcy procedings. She is now looking at the option of getting a joint credit card (with him having a card in his name as a second card holder ) so that they can make the payment. Then after this transaction on retun from holiday cancel the card . Will his bad credit affect her credit if she does this and gets the credit card?
Having a joint credit card will mean that both your daughter and her boyfriend will be credit checked during the process as the card account will be in both of their names. As her boyfriend doesn't have a good credit rating then it will probably be refused for both of them.
A better option would be for her to apply for the card by herself and then once the account is opened to have her boyfriend as a named card holder.
Having the boyfriend as a named card holder won't affect your daughter's credit rating unless they miss the repayments. The account would be in your daughter's name so whatever happens with both cards (i.e. trying to buy things when over the card limit, not making repayments, etc.) would only affect your daughter's credit rating.
Does your daughter have a credit card at the moment? It may be easier and quicker to set up the boyfriend as a named card holder, use the card for the car hire and then destroy it.
Will his bad credit affect her credit
Posted - 05 June 2009 : 21:14:37
