Opening a joint account may impact your credit score.
When two people open a joint account, this is reported to credit reference agencies to let them know that two people are jointly liable for the account. This creates a financial link between the two account owners.
When carrying out credit searches, some lenders will also credit search an applicant's financial link.If you have a joint account with someone with a very low credit score, you might be denied credit. In the same way, if you have a joint account with someone with a very high credit score, you mightbe offered credit.
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