Learn all the pros and cons of having a joint credit card.
The Pros and Cons of a Joint Credit Card
The Pros and Cons of a Joint Credit Card: FAQs
Can I Have a Joint Credit Card with My Partner?
In the UK, only one name can be on a credit card account. However, you can add a cardholder to share the responsibility of borrowing and spending money with your partner. Once you have the account, you can request additional cards from the issuer.
Is Joint Credit Better Than Single?
Yes and no. If you or your partner (or the person you’re seeking credit with) have a better credit score, you’ll be more likely to be accepted and offered a higher credit limit from the card issuer. However, since there is no such thing as truly joint credit cards in the UK, the responsibility will legally fall onto the person who applied for the account. So, if there is a parting of ways, there may be issues with repayments since additional cardholders technically aren’t responsible for the credit card account.
Can a Credit Card Account Be in Joint Names?
Not in the UK. There can only be one authorised user name on a credit account. If you’re not from the UK and live elsewhere, there may be joint credit cards you can apply for with both your names on. Other options, such as joint savings or current accounts, are available if you are from the UK.
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