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Sgt Big Red posted: 28 Jun at 2:41 pm
Well speaking as one who understands credit but not considered a Professional (all that takes is a fee of $350 and an online course to get certified) I can tell you this.
No matter what, your credit is yours and his is his
Combining checking accounts will do nothing for either one of you as they are not reported to the CRA’s. Neither are savings accounts.
Adding him as an authorized user will really do nothing for his score, but could damage yours if he runs up your balance above the 30% threshold (also known as debt utilization ratio).
He is going to have to build his credit on his own. You can read more about credit and how it works to better understand it at the following source:
Here is there link
Hope this helps answer your question
sara posted: 01 Jul at 6:03 pm
a joint checking will do nothing to improve his credit.
you adding him to your credit card, will more than likely reduce your credit limit. so don’t do that.
if he pays off bills and does not run his cards to the max, his credit will repair itself over the next few years. but don’t let him on your credit cards as it will be the reverse of what you are trying to accomplish.