Credit Tips: Joint Credit Cards and Loans: How They Affect Credit

Posted On: February 1, 2006

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Posted: Tue Nov 30, 2004 9:40 pm
Post subject: Joint Credit Cards and Loans: How They Affect Credit

Poppy
Date: 11/15/2000 3:12 pm CDT

Big question. My fiance and I just made our first joint purchase, a used vehicle. We financed this car. The loan was in both of our names. One of us has borderline poor credit, the other outstanding credit. Because this was a joint purchase,will buying this car jointly with someone who has a poor credit rating negatively affect the person with the outstanding credit rating? In other words, will our credit scores merge because of this joint purchase.

I hope you understand what I am saying….

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Posted: Tue Nov 30, 2004 9:40 pm
Post subject: Joint Credit Cards and Loans: How They Affect Credit
Mom
Date: 11/15/2000 3:26 pm CDT

No each person has their own credit file and they won’t ever be merged together, however when buying things jointly, home , car loan etc. both your credit scores are a factor. But the answer is NO, you will always have your own report and so will he/she.