Credit Card Question

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Prudence
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Credit Card Question

Post by Prudence » Tue Jan 14, 2020 1:12 pm

My spouse and I have separate cards (me Amazon Chase, she Discover). We have not traveled much in the past but now we expect to do more. I have been reading some of the other CC threads and looking at Nerdwallet etc. We probably need to use the same card and get points we can use on many if not all airlines and hotels. OTOH, we may just simplify by getting a card that gives us 2% cash back on all charges. My wife may want to retain a certain amount of privacy about her expenditures. How can I set this up? Is it possible to have two cards with a joint account and two monthly statements (his and hers) with the detailed activity and a single payment for both, or one payment for each? The goal is to retain the privacy but get the benefit of combined accounts. As you can see, I don't know much about credit cards!

Silk McCue
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Re: Credit Card Question

Post by Silk McCue » Tue Jan 14, 2020 1:22 pm

She should make her "private" purchases on her Discover (that should be a very small percentage of her spend) and the rest goes on the shared card. You can put any "private" purchases on your existing card as well.

Cheers

alaskantraveler
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Re: Credit Card Question

Post by alaskantraveler » Tue Jan 14, 2020 1:22 pm

Why not just have 2 credit cards? You can both get the same credit card. Citi Double cash is one of the best 2% cashback cards.

If you want travel rewards there are many ccs out there. Depends on your travel preferences. Some of us have many credit cards. Check out doctor of credit.

sailaway
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Re: Credit Card Question

Post by sailaway » Tue Jan 14, 2020 1:23 pm

The real value in most cards are in the sign up bonuses. With two trips to visit family each year, we have even decided it is worth paying two annual fees on the airline card in order to get the two companion passes.

With some extra expenses this year, we each signed up for separate cards, in order to get the bonus offers. However, all of the cards are set up on my bill pay. Many of the bank cards do not integrate well, so you may still need a way to communicate the balance to be paid each month. DH wants convenience over privacy, so I log onto his accounts to get those numbers.

In order to share an account, the spouse who wants privacy should be the primary user, while the other spouse is the authorized user. The primary user can usually see all transactions, while the authorized user usually only sees their own transactions.

psteinx
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Re: Credit Card Question

Post by psteinx » Tue Jan 14, 2020 1:33 pm

1) In general, CCs seem to be a bit of a game, and folks "play" them to varying extents. Yes, with good credit and income, you can probably generate a fair amount of sign up bonuses, but that takes time. Or, you can pick one or two good cards, with good, broad cash-back features, and forget about this stuff unless/until the card goes away or knocks its feature set down significantly. (EDIT - Or perhaps, better rewards CC cards become available.)

2) I'd be reluctant to sign up a married couple on one CC. My wife and I did for a while, but because I was primary and she was only "authorized" or whatever, it made it hard for her to interact with the CC company.

3) In general, trying to track expenses between a couple on a shared statement is annoying. IIRC, we also tried to use a single checking account years ago, but reconciling that was annoying.

4) You should also want to have more than one different CC between you, because CCs become invalid for various reasons, often at unexpected times. If you're on a trip somewhere, with only one CC, and that CC is compromised and thus perhaps locked down by the CC company, you could be in a tricky situation. Redundancy can be a useful thing.
Last edited by psteinx on Tue Jan 14, 2020 2:41 pm, edited 1 time in total.

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RickBoglehead
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Re: Credit Card Question

Post by RickBoglehead » Tue Jan 14, 2020 1:35 pm

All charges will be on the physical bill, if you get one.

I can't imagine having charges that my spouse would not see, but to each their own.

You can't count on an authorized user not being able to see the statement from their signon.
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lthenderson
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Re: Credit Card Question

Post by lthenderson » Tue Jan 14, 2020 2:27 pm

We have a Citi Doublecash card that we share. Since I pay the bills, I'm not concerned about my spouse seeing anything. If my wife wants to buy a birthday or Christmas gift for me and doesn't want me to see, she pays with one of our backup credit cards and then asks for the statement when it comes in so she can pay it. It keeps things simple that way.

Jack FFR1846
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Re: Credit Card Question

Post by Jack FFR1846 » Tue Jan 14, 2020 2:37 pm

You can get cash from Discover and you can get cash from most Chase cards, one way or another. I submit that you don't need anything more than what you have now.

Of course there is a big world of money rewards between sign up bonuses and other credit card shenanigans, but I don't sense you want to do that.

Authorized users are not able to get their own statement, speak with the credit card about anything or make any account adjustments. If they lose their card, a new card will go to the account holder.
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Topic Author
Prudence
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Re: Credit Card Question

Post by Prudence » Tue Jan 14, 2020 2:43 pm

When I look at our spending history, we are getting 1% cash back on most of our purchases. So, I am thinking it might make sense for each of us to get the Citi Double Cash and use them for everything including travel purchases (and terminate our current Chase and Discover cards).

Jack FFR1846
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Re: Credit Card Question

Post by Jack FFR1846 » Tue Jan 14, 2020 2:44 pm

Not a bad idea. You can each get double cash card accounts. But why close the other cards? That'll only lower your credit score.

If your wife is willing to keep track of rotating categories, Discover offers 5% back with a different category every quarter (just like Freedom does). This quarter, it's CVS, Walgreens and grocery stores (not wal mart or target).

Actually....looking at my list, Freedom this quarter is 5% on gas and internet. There's probably a 3rd thing that I don't care about, so didn't write it down.
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Watty
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Re: Credit Card Question

Post by Watty » Tue Jan 14, 2020 3:06 pm

One thing to watch out for is that many credit cards dropped the rental car damage coverage last year. If you think your current cards covers that then you should double check that it still does.

If you will be traveling internationally then also to check to see what they fees they charge for charges that are made overseas.

In addition to the Citi double card I also use my Costco Visa credit card for a lot of things because it has very good terms for most things. One nice thing is that when you rent a car with the Costco card your spouse should automatically and authorized driver, that can often cost $10 a day or more.

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GerryL
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Re: Credit Card Question

Post by GerryL » Tue Jan 14, 2020 3:28 pm

And if you will be travelling internationally, you will want to consider the brand of card. My understanding is that Visa is most widely accepted in Europe while it is MasterCard for South America. AmEx, not so popular in Europe. Don't know about Discover.

This is not to say you can't use a "non-preferred" card at all, but that some vendors -- especially smaller ones -- may not be willing to accept them. I carry my AmEx with me to Europe since it is my airline card, but I mostly use a Citi Visa card. I have a second Visa tucked away just in case.

spitty
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Re: Credit Card Question

Post by spitty » Wed Jan 15, 2020 8:01 am

A friend has the Capital One "Spark" card which is 2% cash back/no yearly fees. You might compare that to the Citi version if going that route.

OnceARunner
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Re: Credit Card Question

Post by OnceARunner » Wed Jan 15, 2020 12:00 pm

spitty wrote:
Wed Jan 15, 2020 8:01 am
A friend has the Capital One "Spark" card which is 2% cash back/no yearly fees. You might compare that to the Citi version if going that route.
The Spark is a small-business card, just as an FYI for the OP, since it may or may not apply to them.

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