Joint Credit Card for Couples: Should You Get One?
Managing credit cards as a couple can seem daunting. Whether you're married, engaged, or living together, understanding the options for combining credit cards - and what it means for you in practice - can help you make choices that work for your relationship and financial goals.
Here's everything you need to know if you're considering a joint credit card for couples. Finances are one of the top relationship stressors, but getting on the same page helps you create a joint vision and succeed together.
What Is a Joint Credit Card?
Traditional joint credit cards where both partners share equal ownership and responsibility are becoming increasingly rare.
Most credit card companies now prefer arrangements where one person owns the "joint" credit card account and adds their partner as an authorized user.
Some couples also choose to share login credentials (but this isn't an official arrangement recognized by credit card issuers).
Each type of arrangement carries different implications for both partners.
With joint credit cards, both parties have equal rights and responsibilities for the account, including making payments and managing credit limits. In an authorized user setup, the primary cardholder maintains control, but their partner gets access to the credit line.
Most Americans have credit cards, and outstanding balances now total a whopping $1.17 trillion. Most couples use their shared credit cards for household expenses like online grocery purchases, utilities, and streaming subscriptions. And, of course, you can get credit card rewards and sign-up bonuses.
Can a Married Couple Get a Credit Card Together?
Yes! Married couples have two primary options for sharing credit cards. They can either apply for a true joint credit card or set up an authorized user arrangement (much more common). Both approaches allow couples to share a credit account, but they're different in terms of control and responsibility.
Should Married Couples Combine Credit Cards?
According to Bankrate, 39% of couples who live together fully combine their finances, regardless of marital status. But there are generational differences – 38% of Gen Z adults (ages 18-27) keep their finances separate from their partners.
So, there's no universal right or wrong way to manage finances as a couple and people do it in all kinds of ways. What matters most is having transparency and making sure both partners agree on the approach.
As The Couples Financial Coach, I believe that a joint credit card can work well for some couples. I recommend maintaining a joint checking account that both partners contribute to for paying credit card bills. This approach promotes transparency and teamwork.
Benefits of Joint Credit Cards for Couples
There are rewarding benefits to having a joint credit card for couples - as long as you manage it well (more on that later). Here's what they are.
Combined rewards and points accumulate faster when both partners use the same card for purchases. This means reaching reward thresholds sooner and potentially earning more valuable perks like airline miles, cash back, or hotel stays you can enjoy together with your partner.
Expense tracking becomes more simple when you keep your household spending in one place. With a joint credit card account, you can see your complete financial picture in a single statement instead of sorting through multiple statements every month.
Easier budget management because you only have one monthly payment to handle.
Building credit history together can be great for future joint financial goals, such as applying for a mortgage or other loans.
Transparency in spending habits naturally develops when you share a credit card with your partner. This openness can strengthen financial trust and create opportunities for meaningful conversations about money in your relationship.
Cost savings because you'll have a single annual fee for the credit card.
If one of the spouses spends too much money, joint ownership of a credit card can be a great way to cultivate transparency and responsible spending habits, too.
Drawbacks and Risks of Joint Credit Cards for Couples
Committing to a joint credit card isn't right for every couple, and there are negative sides to consider.
Both partners bear legal responsibility for all charges, regardless of who makes them. This means if your partner makes a large purchase without discussion, you're equally liable for paying it off (this only applies to true joint credit cards).
Credit scores for both individuals become vulnerable to each other's actions. Late payments, high credit utilization, or defaulting on the card will damage both partners' credit histories. This can affect your future borrowing abilities for years.
Account separation becomes more complicated if the relationship ends but you still have an existing credit card account.
Financial independence becomes more challenging to maintain with a joint account. Every dollar spent appears on a shared statement, which might feel restrictive for partners who value some privacy in their spending decisions.
Debt responsibility after separation can become a big issue. Even if you agree to split the debt, credit card companies still hold both parties responsible for the entire amount.
Most of these drawbacks apply to true joint credit cards. If you add your spouse as an authorized user, they typically don't bear any legal responsibility and taking them off the account isn't complicated. But your credit card issuer might still report their behavior to credit bureaus.
Learn what to do if your spouse opens a credit card in your name or if they have no credit history.
How to Successfully Manage a Joint Credit Card
Many couples successfully use joint credit cards, but it's essential to maintain open communication, set clear expectations, and create systems that work for both partners. Here's how to make a joint credit card work for your relationship.
Set Clear Spending Guidelines
Establish specific spending thresholds and rules that work for both partners. A common approach is setting a limit (like $100) for purchases that don't require discussion.
For example, either partner can buy groceries, gas, or routine household items without consultation, but larger purchases need a conversation. This system respects individual autonomy, but you also still maintain financial responsibility as a couple.
Create a Reward Strategy
One of the best things about credit cards? The rewards. But you need to create a thoughtful plan that maximizes their value for both account holders.
Discuss whether you'll save points for joint travel, split cash back rewards, or alternate who uses the benefits. Consider creating a shared goal for rewards, such as saving points for an annual vacation or home improvements.
Regularly review your credit card rewards strategy to make sure that both partners feel that they're benefiting fairly from the perks.
Establish Payment Responsibilities
Develop a clear system for handling monthly payments. Many couples find success with automatic payments from a joint checking account. This way, both partners can contribute based on agreed-upon percentages of their income.
Decide who will monitor the account balance, payment due dates, and credit utilization. You can also set up calendar reminders for payment reviews and account check-ins.
Practice Open Communication
Schedule regular "money dates" to review your credit card usage, discuss upcoming large purchases, and adjust spending limits (if needed). Keep discussions focused on solutions rather than blame, and approach financial decisions as a team.
Monitor Account Activity Together
Both partners should actively participate in account monitoring. Set up mobile alerts for purchases above certain amounts and approaching credit limits.
Regularly review statements together to catch any unauthorized charges and make sure that all spending aligns with your agreed-upon guidelines. This shared responsibility helps prevent financial surprises and maintains trust.
Do Joint Credit Cards Affect Both Credit Scores?
True joint credit cards impact both cardholders' credit scores equally. All payments and account activity appear on both credit reports. This means good habits, like making on-time payments and keeping balances low, help both credit scores. But missed payments or high balances hurt both scores, too.
For authorized users, the impact depends on the credit card company. Some issuers report account activity to the authorized user's credit report, others don't. Check with your credit card company about their reporting policies before adding your spouse or partner as an authorized user.
Can an Unmarried Couple Get a Credit Card Together?
Yes, unmarried couples can share credit cards, but their options are typically more limited than married couples. Most commonly, unmarried partners use the authorized user arrangement rather than apply for a true joint card.
When adding a partner as an authorized user, remember that the primary cardholder remains legally responsible for all charges. Also, sometimes there are authorized user fees.
So, How to Handle Credit Cards as a Married Couple?
It's never black and white with couples' finances.
If you like the idea of having a joint credit card but don't want to fully rely on that, you can keep your individual credit cards for personal expenses and share one joint card for household purchases.
This arrangement will help you build shared financial responsibility, but you'll also still have your individual credit history.
Also, it's important to choose a credit card that matches your spending habits and goals as a couple. If you frequently travel together, look for travel rewards cards. If you're focused on paying down debt, consider a card with a low interest rate or balance transfer options.
FAQs
Is There a Difference Between a Joint Credit Card and an Authorized User?
Yes, there's a difference. Joint credit cards make both people equally responsible owners of the account. So, if you're a joint account holder, you're responsible for making payments as much as your spouse. Authorized users can make purchases using the credit card, but they aren't legally responsible for payments.
Also, to get a joint credit card, both cardholders have to go through credit checks. Authorized users simply receive permission to use the primary cardholder's credit line, so you can be an authorized user even with bad credit.
Authorized user arrangements are now much more common than true joint credit cards.
Can I Get a Credit Card Without Income Proof?
Credit card companies typically require some form of income verification during the application process. Learn what to do if your spouse has good credit but no income.
Will Adding My Husband to My Credit Card Help His Credit?
Adding your husband as an authorized user can help build his credit history, but only if your credit card company reports authorized user activity to credit bureaus. Not all issuers do this, so it's important to ask. If they do, a positive payment history and low credit utilization on your account could boost your spouse's credit score over time.
Can a Wife Get a Credit Card in Her Husband’s Name?
No, applying for a credit card in someone else's name without their knowledge or consent is credit fraud, regardless of marital status. If you're married, this is also financial infidelity. Instead, you can have an open conversation with your partner and become an authorized user on their existing card or apply for a joint credit card together.
Will Adding Someone as an Authorized User Help Their Credit?
Adding someone as an authorized user can help build their credit if the credit card issuer reports authorized user activity to credit bureaus. Check with your credit card company if they report authorized users or just the primary account holder.
Can I Get a Credit Card on a Joint Account?
Having a joint bank account doesn't automatically qualify you for a joint credit card. Credit cards require separate applications, and both applicants must meet the issuer's credit and income requirements (if applying for a joint credit card).
Which Banks Offer Joint Credit Cards?
Many major banks have moved away from true joint credit cards and now prefer the authorized user model over joint ownership. But you can still get a joint credit card at US Bank (at the time of writing this article).
Get on the Same Financial Page with Your Partner
You can try getting a true joint credit card account with your spouse, but the authorized user arrangement is now much more common. In this scenario, your partner can make purchases and redeem rewards, but they aren't responsible for making monthly payments.
At the same time, the primary account holder can easily cut off the authorized user's access, so it's important to have a frank conversation with your partner about the different power dynamics that this arrangement creates.
If you're ready to get on the same financial page with your partner, schedule a free consultation and let's get started!
