We are in the process of opening an account with FirstTech Credit Union for the purpose of obtaining a secured credit card and thus start rebuilding our credit. The underlying account is a joint account between me and my wife. Will we need to obtain separate secured cards (and use them appropriately) to achieve this, or will having one card account (with two issued cards) work? Will they report to the credit bureaus for each of us, or only for the primary card holder?
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you will need to ask the bank if they report to all three bureaus and if they report joint holders. typically, joint means you are both responsible for payment so they should report both of you on the same account to all three bureaus. who knows if they do or not until you ask them for sure.
if the person you are talking to says they dont know, ask for a supervisor or someone who will know the answer.
but my general assumption would be that one account will get it done for you.
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You should be okay with one account with two issued cards so long as both of you are jointly liable for payment (as opposed to one of you being an authorized user). But as TBA points out, you should ask the credit union and clarify.Comment
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