If my boyfriend already has a checking account would credit be an issue for me to have a joint account?

Question

If my boyfriend already has a checking account would credit be an issue for me to have a joint account?

Answer 1

it depends on the bank. Personally, I've found that this isn't a great idea. In order to establish your own credit, get your own account. Also if you needed some money or something, he may have spent it.

Answer 2

If someone has really bad credit, you want to avoid joint checking accounts.  There are several reasons for this, not the least of which is that a person with bad credit almost certainly has creditors after them, and this could end up in a garnishment of assets, including a checking account.  I can't tell you how many people I know who had a checking account wiped out by a judgment against one of the two, and of course it's the person with cash and good credit who is always the loser.

Answer 3

Possibly. Depends on just how bad your credit is. Most people have no problems opening checking accounts. However, if you have really poor payment history, your bank just may deny you a checking account due to the possiblity of bouncing checks.... but that is not too common. As I said, your credit would have to reeeeeally bad!

Answer 4

Banks use Chexsystems to verify your banking habits. Your poor credit will not be an issue. If you have a bad history with Chexsystems and good credit, you will most probably be denied. Chexsystems is comprised of member Financial Institutions that regularly contribute information on mishandled checking and savings accounts to a central location. ChexSystems shares this information among member institutions to help them assess the risk of opening new accounts. ChexSystems only shares information with the member institutions and does not decide on new account openings. Most banks use this to verify how many bounce checks you have written and/or if your banking has some negative information. You can request a free copy of your Chexsystems report from the following URL:

https://www.consumerdebit.com/consumerin...

Chexsystems is your banking history. Your credit history which resides with Experian, Equifax and Transunion shouldnt affect your ability to open a checking account.

Answer 5

Judge Judy says that the worst thing that a young woman can do is set up a joint bank account with a boyfriend.  One argument and he can empty the bank account and no one can tell him no.  It's his to empty.

Answer 6

It could.

Keep in mind that if you have anything in collections, putting your name on his account leaves it open to be collected or leins placed on.

Having your name on his accounts could also lower his credit.

Answer 7

It shouldn't be a problem as long as you're not on chex system but you should think twice before adding your name because if something goes wrong later on, you're part of it.