Credit building

[DaveNot 55]

Just a quick question regarding good and bad credit scores. I entered on a k1 got married in the process of filing AOS. I want to establish good credit history here in the USA. I heard one way of doing so, is asking your partner to have a joint account showing joint incomes, banks (both names showing), bills (both names), personal bills and so forth. All of which have in common a shared account/names.

I have one concern. Can my partners bad credit history affect my own if sharing accounts and responsabilities and such? I don't currently have a credit history, so I am trying to make a good one.

[ascertainLovE 165]

Just a quick question regarding good and bad credit scores. I entered on a k1 got married in the process of filing AOS. I want to establish good credit history here in the USA. I heard one way of doing so, is asking your partner to have a joint account showing joint incomes, banks (both names showing), bills (both names), personal bills and so forth. All of which have in common a shared account/names.

I have one concern. Can my partners bad credit history affect my own if sharing accounts and responsabilities and such? I don't currently have a credit history, so I am trying to make a good one.

One simple way is to get a secured credit card from your bank. Charge stuff on there but pay the balance in full at the end of the month. Edited March 28, 2015 by ascertainLovE

[Hypnos 6,576]

A secured card is the way to go when first starting out.

Several lenders offer secured credit cards, including Capital One, Merrick, and many others.

[DaveNot 55]

I was offered unsecured recently and not tied with anything that I cannot cancel. Student benefits, I guess. It still is pending, but I'll follow the secured version if this gets turned down. Also, opened a joint account which helps, so i was told at wells fargo.

[KierenHby 897]

Joint account holder's bad credit will affect you negatively if using the partner's SSN to open a joint bank or as co-signor on a credit account. You could be denied or get credit on unfavorable terms, ie high interest rates.

Car loans, credit cards, cell phone bills, and some utility bills are tied to your credit, and timely payments on those are reported to credit bureaus and help build credit. .

An unsecured card\account, is an excellent way to build credit.. provided you use it wisely. Most important, make payments ON time. A single missed payment can hurt your credit.