Helpful Resources

Credit Card Directory
Our directory is a comprehensive list if credit card issuers offering every type of plan.
Credit Resource Center
Learn more about credit, personal finance and how it relates to applying for credit cards.
Credit & Finance Blog
Get advice from people in similar situations.
Credit Card Comparison
Compare credit cards and determine the best one for you.
Credit Card Ratings
Find out what other people are saying about your credit cards.

Consumer Calculators

Credit Calculators
Home & Mortgage Calculators
Cash Flow Calculators
- How long will my money last?
- How much am I spending?
Retirement

Credit Card Search Engine

Type of Card:

Type of Rewards:

Type of Credit:

Credit Newsletter
Join Our Mailing List

Free Credit Advice
Latest Consumer News
Special Offers
Credit Repair Tips
Fico Score Information

Credit Offer of the Week
Chase Freedom Credit Card

Earn 1 point for every dollar in purchases* 1,000 Bonus Points with your first purchase*

Home > Blog > Newlyweds > Setting Up Joint Credit

Setting Up Joint Credit

Posted by: Michael S. | Jan 20,2008

This Article is rated:

One of the best ways to get on the same page with finances is to join accounts together. There is an argument to be made that spouses should have some financial independence from each other – for instance, to avoid a wife having to ask for money from a husband who controls finances. However, there is also value in joining accounts together so that you are working towards a common purpose.

Here are some steps you should take after you get married:

Notify each credit bureau of your name change. Your Social Security number will obviously stay the same, but if you’re going to be using a different name on bills and tax forms. This could lead to credit report confusion, where your report might show a listing for someone else with your name. These mistakes have been known to happen. So don’t only notify each credit bureau but order up a copy of your free credit report to make sure that there are no inaccurate listings.
Some independence is recommended: such as keeping credit in your own name. You should not only be an authorized user on a credit or bank account, but a co-signor. If you don’t, your credit report will not reflect the history on an authorized account.
That said, you should open up accounts together: bank accounts, credit card accounts, and so on. If utilities do not allow joint users, then split up the bills in each person’s name to spread the credit history wealth.

This is all predicated on paying your bills on time. If you don’t pay bills on time, it won’t matter if you took the time to make joint accounts because you’ll both take a hit for it. As I said, having joint accounts is a good idea because it makes you both accountable to paying the bills on time, rather than leaving the issue entirely one person’s hands.