Can allowing my wife to hold a credit card hurt my credit?

[danstelter]

I have good credit - 750, and my wife's isn't good. Not sure on the score, but she has some bills in collections and we're in the process of slowly repairing the damage.

Long story short, yesterday we signed up for a store membership and they had a credit card offer that I couldn't refuse (3% savings on all gas stations and 2% on everything in-store with no annual fees)

I am the primary account holder, and she also has a credit card cooperatively on the account.

Will this hurt my good credit? We want to keep it good so we can hopefully purchase a home within the next year.

We live in WI, if that has anything to do with it.

Thx ahead of time for your opinions!

Dan

[snafu]

Do you plan to include your wife's income on applications for a mortgage when you're ready to buy a house? Should that be the case, her credit rating will impact your eligibility and the interest rate offered. I hope your wife is onboard with getting her bills paid up as quickly as possible to reduce the damage PDQ.

Since you are the primary card holder, the new CC will be billed to you. Should you default, they will demand your wife pay any outstanding balance.

[danstelter]

Do you plan to include your wife's income on applications for a mortgage when you're ready to buy a house? Should that be the case, her credit rating will impact your eligibility and the interest rate offered. I hope your wife is onboard with getting her bills paid up as quickly as possible to reduce the damage PDQ.

Since you are the primary card holder, the new CC will be billed to you. Should you default, they will demand your wife pay any outstanding balance.

Actually we don't because she's no longer working and we plan to keep it that way. Thanks for the head's up - it looks like we'll be okay.

[bjl584]

If you open the card in your name and make your wife an authorized user of the account, then the CC company should base everything on your credit report, not hers.