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Can the other person on your credit card get credit?
I applied for a credit card, and I put my fiance's name on it as someone that can also use the card. He doesn't have any credit history, so will this give him some? We are trying to build his credit, but no one is letting him get a credit card because there is no credit history..
It was fine for me to get the credit card. I have good credit. It is just he hasn't ever gotten one. He has two checking and two savings accounts, with a a pretty good amount of money, but the banks just won't let him because he has no credit history. We have US bank and he has tried, but hasn't succeeded... I personally think this is strange because I got one quick there and I only had a checking account. I got the credit card in the mail today and he has his own with his name on it. I am pretty sure that means he is authorized to use it.. Idk though. I am confused.
3 Answers
- Go with the flowLv 71 decade agoFavorite Answer
Do not dare carry balances on that credit card.
It will hurt your credit.
There is a myth out there that carrying balances is good for you.
Pay in full each month for top credit.
Employers check, so do landlords and car insurance companies (you'll pay more).
Make sure you don't foul up your life.
Is he an authorized user?
Then no - it will do nothing for his credit.
Is he joint?
Then yes, it will help his credit.
He could have on his own opened a secured loan through his bank.
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- E&LLv 71 decade ago
If the card was acquired by you and he is only a 'signer' on the card it will do nothing to improve his credit score. With that said, you are taking complete responsibility for any charges he makes. If he wants to build he credit he needs to start with opening a bank and savings account.
- Anonymous1 decade ago
Yes, that will help him build a credit history.
