I went to apply for a loan recently and was told that I have too many accounts open and may not be able to get the loan. Here is the situation:
I have 3 credit cards and my sister has my permission to use them. She is going to school currently. The balances are not horrible but they are fairly high. She is paying them and they are all current. However, it is affecting my ability to obtain a car loan. What we are wondering is if it is possible, if both parties are in agreement, to transfer one or two of the cards to her name and take mine off of it. If not, is it possible to add her name to my account and then remove my own from it? If none of that is possible, is there any other way, short of just paying one off and canceling it, to remove myself from the credit card? I understand fully that it's my responsibility and my card, I just want to find out if there is a way to transfer it.
Thanks!
Cyn
I have 3 credit cards and my sister has my permission to use them. She is going to school currently. The balances are not horrible but they are fairly high. She is paying them and they are all current. However, it is affecting my ability to obtain a car loan. What we are wondering is if it is possible, if both parties are in agreement, to transfer one or two of the cards to her name and take mine off of it. If not, is it possible to add her name to my account and then remove my own from it? If none of that is possible, is there any other way, short of just paying one off and canceling it, to remove myself from the credit card? I understand fully that it's my responsibility and my card, I just want to find out if there is a way to transfer it.
Thanks!
Cyn
