"Mark Bole" <makbo[at]pacbell.net> wrote
- quote -

Prior to posting, I found lots of support for your
statement. But I also found sites that indicate it's not so
black and white. Googling for {"credit score" "bounced
checks"} will yield elaboration on the point. There's also
some question as to why the OP needs a good credit score.
The hits from googling indicate that, depending, a lender to
which the OP and his wife applies may use other credit
bureaus besides the three well-known ones. I think the best
place to start is one's credit reports and see if there's
any evidence of the bounced check. This should also include
the free annual credit report one may obtain from
"ChexSystems" concerning checking accounts. See
https://www.consumerdebit.com/consum...freereport.htm .
Fair Isaac (of FICO) also apparently has some other credit
score based on bounced checks and other non-credit card
items.

For the future: My impression is that the account need not
be closed. Instead, if I understand correctly, the son's
name can be removed. Of course, this addresses possible
future problems but not past ones.

ToddH <toddmhutchinson[at]gmail.com> wrote:

- quote -

I don't know the answer for sure, but I can tell you my own experience.
I opened a joint checking account with my daughter while she was a
minor, later (after she turned 18) she started using her Visa debit card
when there wasn't any money in the account to cover the purchase. After
she incurred about $200 of debt in this manor (and another $400 in bank
charges,) I paid the $600 to the bank and closed the account. There is
no reference to any of this on my credit report.

ToddH wrote:
- quote -

Unlike the two previous replies, I don't see how a checking account
situation can affect a credit score, they are two different categories
of finance. However, banks do partake in a shared scoring system for
*bank* customers, which would definitely take a hit resulting from a
history of bounced checks. Banks in general may look askance at future
requests to open bank accounts, based on this history.

Now, if you are late on a scheduled payment to a credit account, that
will cause a hit to your credit score. Whether the late payment was due
to a bounced check or some other reason doesn't matter. That is the
distinction you will find if you follow the links previously posted.

Advice: close the joint account.

-Mark Bole

Yes, having this joint account may affect your credit score.
To get an idea of where you are with this, you can obtain
(online, for free once a year per agency) credit reports
from each of the three credit agencies. See
www.annualcreditreport.com. This is the official site
mandated by the government for giving consumers their credit
reports free, once a year. Start by examining each. Then
maybe pay the $10 or so for at least one credit score.
Report back.

You can also google on, say, {"credit score" "bounced
checks"} for more information.

ToddH wrote on [Sun, 9 Dec 2007 14:45:04 -0600]:
- quote -

Nope. If he signed the checks and it's only on his own account, it won't
affect you. However, if the bounced checks were paid and no collections
agencies were involved it's very likely they won't affect his credit
score either.

My wife opened a savings account with our son before he had a driver's
license. He lives with us. After he got his driver's license and was
able to open an account on his own, he proceeded to bounce checks.
The joint checking account we have with him remains open. Will his bad
credit behavior effect our credit score? If so, is there anything we
can do to reverse it. He is 20 years old. He was not a minor when
the account was opened.