Should I add my wife to my credit cards to improve her credit?

My wife has poor credit (below 500), I have OK credit that is improving (625+). We%26#039;re both on the right track, and both of our debt is nearly paid off. I have several cards, she has none, although recently has been getting some typical preapproved offers for non-secured cards. To jump start her recovery, should I add her to my cards? Will that improve here credit? Will it harm mine?

Should I add my wife to my credit cards to improve her credit?unemployment rate

Spif%26#039;s right on that. By adding her definitely can jump start her credit, without question. But I what I would do to protect myself is add her as an authorized user, but she doesn%26#039;t get a card. It would be for reporting purposes only. Another way to jumpstart her credit so that she won%26#039;t have to use any of the cards that you added her as an authorized user, open up a secured credit card for her. I%26#039;ve seen some of the secured cards (like Bank of America %26amp; Wells Fargo) are actually better than some of the unsecured card offers that are out there. Most deposits require a minimum of $300, me I would open one up with $500 and add to the deposit to boost the limit. After about a year of perfect payment history, the deposit would be refunded and the card would be unsecured with a credit line that would be more than what it would%26#039;ve been had she applied for a secured card outright. It%26#039;s important to monitor how the card is maintained with the utmost discipline. This secured card since in her name should be the primary credit card that she%26#039;s using. I know the next thing I%26#039;m getting ready to say may be crazy, but it%26#039;s the truth. You%26#039;re going to have to babysit her with that card. I can%26#039;t stress how important it is. At one point she didn%26#039;t care about her credit. If you%26#039;re going to take that step in adding her to your credit cards to boost her credit, then there%26#039;s no reason why you shouldn%26#039;t take the extra step to show her the right way how to rebuild and maintain it. Once you%26#039;ve shown her how you%26#039;ve managed to get where you are, then she should have a better understanding of what you%26#039;re trying to accomplish with your credit.

Should I add my wife to my credit cards to improve her credit? loan

she might lower yours|||if you know your marriage is going to last and you are sure you are willing to take the risk..then go for it. my husband added me so now we have a joint account and it has helped improve my credit since i am now also responsible for the payments..so having them paid all the time has improved my score with out me having to open a new account and this way we have the same amount of credit cards that we have been fine paying off before....add her to yours and dont open a new account it is just going to make more debit in the long run|||I would not add your wife to your accounts-- why does she have bad credit? Can she be trusted not to bring yours down further after you have worked hard to rebuild? She should get 1 credit card, pay off the entire balance every month and do not apply for additional credit. Each time her credit is looked at by potential lenders her score would be hit--- it takes a while to repair the credit, but I wouldn%26#039;t risk mine for anyone. Her score will go up in time. Good Luck!|||I was in the exact same position several years ago and I added my wife to all of my credit cards. Her score improved overnight due to the good pay history that showed up on her credit.

The only down side of this is if you two split up like my ex-wife and I did several years later. She had run up all of the balances on my cards with case advances and buying stuff for her kids without me knowing it. We ended up getting a divorce and filing chapter 7 bankruptcy.

If you are sure that your marriage is sound and you trust your wife? Go for it.