What is financial association? Watch our new video

To begin the second series of Credit Café videos, on the topic of Money and Relationships, our Experian Experts James Jones and Jill O’Connor explain what financial association means, and the impact it can have on your credit report.

You can see all the Credit Café videos so far here on our YouTube playlist.

4 thoughts on “What is financial association? Watch our new video

  1. Susan Percy

    Hello, How do I disassociate my ex-husband from my credit report, we got divorced with a clean break from the county court in 2011. He has bad debts that are affecting my personal credit rating?

    Thanks Sue

    Reply
  2. Alesha Green

    Hi, I have recently bought a flat with my partner, I have good credit and he has bad credit and we have a joint mortgage with a company that specialises in lending to people with low credit. This is of course more expensive that high street lenders and we are hoping to be able to improve his credit and then move to a better deal in two years. Ideal we would also like to have a joint account to pay bills etc. My question is, now that we are already financially associated through our mortgage, will a joint account be like a drop in the ocean in terms of how heavily our association affects my credit? Or should we avoid it for the time being?
    Any advice would be much appreciated. Many thanks!

    Reply
    1. CreditExpert Neil

      Hi Alesha, congratulations on getting your new flat! Once you are financially connected to another person the number of different financial connections that are recorded won’t make any difference to your credit report.

      So opening a joint account might mean another association entry is recorded, but this doesn’t mean that lenders would be more or less likely to accept an application as a result.
      Kind regards Neil

      Reply

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