Posted on: 28th May, 2012 01:09 am
We're a newly married couple. I have a few questions about post married life. Is there anything we need to do now that we're married credit-wise? What name do I use for my wife's CC apps, and her annual credit reports? Also, I need to clarify this - credit cards have two types of users - Authorized and Joint Most of our generic cards we would like to split between us so we can improve our scores together and I'm not sure if it's possible or advisable.
I personally believe that it is better to keep some of your credit accounts individual rather than mingling all your accounts. Whatever name your wife uses on her other documents can be used in order to get new credit cards or any other type of credit.
Hi Sammoy!
Welcome to forums!
Well, a joint account holder for a credit card account is responsible for the balance of the account similar to that of the other person named on the account. The joint account holder is legally liable for any amount due. On the other hand, an authorized user, is able to use the credit card account, but is not legally liable for the balance due on the account. So, I personally feel that it will be better if you could make your spouse a joint account holder.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Well, a joint account holder for a credit card account is responsible for the balance of the account similar to that of the other person named on the account. The joint account holder is legally liable for any amount due. On the other hand, an authorized user, is able to use the credit card account, but is not legally liable for the balance due on the account. So, I personally feel that it will be better if you could make your spouse a joint account holder.
Feel free to ask if you've further queries.
Sussane