Posted on: 07th Mar, 2007 09:47 am
I am just above 18 years. Can I inherit my parents' credit ratings? Or does such rating affect my credit rating. Also, if I have applied for supplementary card on my parents' card at 16, then also shall I be able to inherit the rating?
"I am just above 18 years. Can I inherit my parents' credit ratings? Or does such rating affect my credit rating."
Sorry Molly but you cannot inherit credit rating of your parents. You have to build your own rating. Your credit rating depends on your debts and the way you handle them, rating of your parents won't affect yours.
Sorry Molly but you cannot inherit credit rating of your parents. You have to build your own rating. Your credit rating depends on your debts and the way you handle them, rating of your parents won't affect yours.
Their credit rating does not affect your ratings, your credit score builds as per the way you make payments for your dues.
Oates
Oates
"Also, if I have applied for supplementary card on my parents' card at 16, then also shall I be able to inherit the rating?"
Check if it is reported on your credit file. If it appears on your file then it may help in improving your credit rating.
Check if it is reported on your credit file. If it appears on your file then it may help in improving your credit rating.
Hi Molly,
Here is an interesting article regarding your query. Hope it will help you...
"http://www.betterbudgeting.com/articles/parenting/inhertingdebts.htm"
Here is an interesting article regarding your query. Hope it will help you...
"http://www.betterbudgeting.com/articles/parenting/inhertingdebts.htm"