If you use a joint credit card, have your spouse as primary on the application. Consider a second individual card in spouse’s name.
Accounts considered “joint” may have the first-named person’s name and SS# as “primary”. Some entities may require a non-primary surviving spouse to re-register the account after the primary spouse’s death. This means there may be a period of time where the surviving spouse temporarily does not have access to a “joint” account.
Joint credit card with DW a neccesity (after passing)?
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- ResearchMed
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Re: Joint credit card with DW a neccesity (after passing)?
rich126 wrote: Mon Feb 03, 2025 8:01 am I think this is a common problem with married couples. In my case I got married late in life and my wife never made much money although fortunately she wasn't in debt. I've added her as authorized user on some of my cards and over time her credit score has rise to a vg score and she now also has several cards in her own name so she will be ok if I go first.
Cards have a lot of different terminology. American Express allows you to have an authorized user or a companion card. Authorized user provides more benefits to the user but also involves an annual fee, the companion card usually has no additional fee but doesn't really provide any benefits. Both seem like they will add the user's credit score (I'm referring to the additional user) assuming the primary account holder pays things in a timely manner.
Just when you think you have things set up properly you realize there is a gotcha. Good luck.
Thanks.
Somehow we never realized there was something like a no-fee "companion" card for Amex Plat as a choice instead of the "authorized user" or supplemental cardholder, which has a fee.
We knew a "extra" Gold card was available for no fee for someone else (or it used to be...?).
Yes, I'll check, but do you happen to know what an AU can "do" that a "companion card" holder cannot? Apparently they'll still get "points" for spending (and that is important to us). But what would I be "giving up" if I "downgraded"?
Do the two cards differ in appearance?
RM
This signature is a placebo. You are in the control group.
Re: Joint credit card with DW a neccesity?
I didn’t read all the reply’s after yours, but for a general rule of thumb, you have hit upon the right system. Every adult needs at least cards in their name. If one spouse is disinterested, then yes, thinking ahead, autopays on their card so life goes on even during initial grief . I was widowed 6 years ago, very interested spouse who handled all the money. But having to shut down his consulting business after a sudden death caused more trauma. So grateful for my adult sons, but it was still a lot. So yes, your plan is very wise.Lastrun wrote: Sat Feb 01, 2025 6:32 am This may or may not be helpful.
I looked at this late last year. My wife is not bad with financial stuff, but she could be classified as disinterested. We already have a mix of 6 cards and 2 are in her name already, but they are category cards (Prime and United Club)
But I saw the risk differently--the risk to me was with the workhorse card. For us, this is the BofA Premium Rewards at 2.625%/3.5%. So she applied for a PR earlier this year, so she has one in here name. (note: I could have gone through the joint process but chose not to).
Here is the point. I switched our fairly large number of autopays to her card (utilities, memberships, insurances, etc.). This does two things:
1. If I get hit by a bus, the autopays continue uninterrupted and she does not have to go through the process of updating each of these. If she gets hit by a bus, it is not a big deal for me to go through and change these.
2. We then sock drawer her card and this reduces fraud risk (and me having to redo the autopays in case of shutdown) as her card is not being used everyday in the great outdoors.
Age 67, life turned upside down 3/2/19, thanking God for what I've learned from this group. AA 45/55 for now, possibly changing at age 70.
Re: Joint credit card with DW a neccesity (after passing)?
Everybody should have at least a 2 or 3 major credit cards in their own name (MC or Visa). (I still come across places that take only these 2.)
And these should all have substantial credit lines for emergencies or even for big holds.
[I see this mentioned above in other comments, but I think it's good in general to have short posts that get right to the important points and not bury the lead in too much verbiage. Just IMHO.]
Thx.
And these should all have substantial credit lines for emergencies or even for big holds.
[I see this mentioned above in other comments, but I think it's good in general to have short posts that get right to the important points and not bury the lead in too much verbiage. Just IMHO.]
Thx.
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Re: Joint credit card with DW a neccesity?
Same, each of us have separate log ons.
Just logged on to verify combining points and I can only combine my Chase cards that have UR points, I was mistaken regarding combining with wife’s cards, there is no option for that. I combine points from my other Chase cards to the Sapphire card which has the option to transfer to partner affiliates, hotels, airlines etc.
Wife and I each have more than one Chase card and combine points to the Sapphire card as necessary to use the points.
Re: Joint credit card with DW a neccesity (after passing)?
With regards to the Platinum card, the AU costs $195. I only did that because they offered us 20,000 points after spending $2,000 in 6 months which I value at least $200. The AU gets some benefits but usually not the money ones such as no airline credit, no hotel credit but they can use the lounges (centurion) w/o a fee. Also access Delta lounges if flying on Delta.ResearchMed wrote: Mon Feb 03, 2025 8:21 amrich126 wrote: Mon Feb 03, 2025 8:01 am I think this is a common problem with married couples. In my case I got married late in life and my wife never made much money although fortunately she wasn't in debt. I've added her as authorized user on some of my cards and over time her credit score has rise to a vg score and she now also has several cards in her own name so she will be ok if I go first.
Cards have a lot of different terminology. American Express allows you to have an authorized user or a companion card. Authorized user provides more benefits to the user but also involves an annual fee, the companion card usually has no additional fee but doesn't really provide any benefits. Both seem like they will add the user's credit score (I'm referring to the additional user) assuming the primary account holder pays things in a timely manner.
Just when you think you have things set up properly you realize there is a gotcha. Good luck.
Thanks.
Somehow we never realized there was something like a no-fee "companion" card for Amex Plat as a choice instead of the "authorized user" or supplemental cardholder, which has a fee.
We knew a "extra" Gold card was available for no fee for someone else (or it used to be...?).
Yes, I'll check, but do you happen to know what an AU can "do" that a "companion card" holder cannot? Apparently they'll still get "points" for spending (and that is important to us). But what would I be "giving up" if I "downgraded"?
Do the two cards differ in appearance?
RM
They also get Marriott Gold and Hilton gold status. Also car rental status for Avis, Hertz and National.
https://upgradedpoints.com/credit-cards ... zed-users/ for more info.
Not sure how long term I will keep it but for a year it was easy to do.
A companion card seems to give the extra user nothing except the ability to spend on your account.
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If you think something is important and it doesn't involve the health of someone, think again. Life goes too fast, enjoy it and be nice.
Re: Joint credit card with DW a neccesity?
I still have an AT&T Universal Card from that era! It’s in my name only; I wasn’t yet married when I got it and I never added my husband to it.22twain wrote: Mon Feb 03, 2025 7:45 amLikewise with our Citi Rewards+ Mastercard. It was originally our AT&T Universal Card, issued 1991, back when joint cards were apparently more common. All our (my) other cards are individual ownership/responsibility.jdubsdubs wrote: Sat Feb 01, 2025 10:45 am our joint Fidelity Rewards Visa (issued by Elan Financial/US Bancorp), Experian lists a “Responsibility” field and the field says “Joint”.
One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not. - Alexandre Dumas, fils