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It's not filing a joint return. It's holding all the assets in joint accounts. So they have equal ability to withdraw.
by asveikau 7y ago
It's not filing a joint return. It's holding all the assets in joint accounts. So they have equal ability to withdraw.
- MaupitiBlue 7y agoWoz and DHH both seemed to think filing jointly should be determinative or at least relevant.
- sgerenser 7y agoMaybe but that just shows that they don't understand credit scoring/credit card lending decisions. Whether or not you file joint taxes doesn't come into play at all.
- scarface74 7y agoWhich is irrelevant since your credit report doesn’t list your assets nor does any credit card that I am aware of ask you to list assets let alone verify them.
- asveikau 7y agoI think Woz probably relies on investments rather than wages for income, so holding a joint account means something a little different than it would for most people. But I understand your point. It's also a corner case the credit rating systems don't handle. I am reminded of many years ago when I had no credit but good income, and none of the credit card companies cared about that last point enough to trust me. These are imperfect systems.
- scarface74 7y agoFICO is trying to fix that with Experian Boost (https://thepointsguy.com/news/how-utility-bills-might-improve-credit-score-experian-boost/ https://thepointsguy.com/news/how-utility-bills-might-improv...). It will let you opt in to using utility and phone bills as part of your credit score. But this is also far from perfect. If times are tough or you’re just irresponsible, you’re going to pay your utility bills because of the extreme inconvenience of having your utilities cut off but you may not pay your phone bills.
- basch 7y agoand also only works by giving them access to your checking account. anyone who uses credit cards to pay bills doesnt get a boost. doesnt seem worth losing the points over, id rather have 2% off my bills (unless the boost had a material impact on a mortgage rate, but then you would have to pay your bills for years with checking, hoping boost is still around.)
- scarface74 7y agoIf you have credit cards, you’re already building credit so you won’t need it.
- basch 7y agoyou dont gain additional credit for paying your bills on a cc, if anything its slightly stunning your utilization.
- scarface74 7y agoThat’s what I just said. If you already have credit, you won’t need the Credit Boost of letting them see your checking account. It’s meant for people who don’t have credit.