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Joint credit card for a married couple?


Hello, my husband and I are thinking about buying a house and working on raising our credit scores. He hurt his credit pretty bad in the past and still has only cards with a low limit, his FICO score has been raising, slowly but it has and now is in the mid 600's. I was thinking of getting a joint credit card - that would raise his credit-worthiness, and hopefully raise the score. But, wouldn't it hurt my score? (I keep my credit card balances at about 10 % and my credit is over 700), or adding him to my high-limit card, would that help?... Thank you.

It would certainly help. Understand that you have to have one and keep in in good standing for several months before the Experian and the other credit companies feel it is significant.

maybe it might be a bad idea and might course arguments because you will be stressed about getting into debts but if you think you can manage it be very sure before you decide

Before saying it is okay, I would want to know:

How long have you been married?
Do you currently argue about money now?
What got him into trouble in the past? Not paying on time? Overspending?

Buying a house in both of your names will help his score on its own, as long as the payments are made on time. Maybe it is a good idea for him to work on raising his score, so that he might not take his credit scores for granted in the future. With so many marriages ending in divorce, you should make sure you are covered no matter what.

I really don't see the purpose of having a joint credit card to begin with.

Talk to some loan specialist, there are loans out there that can help you out. The interest rate might be a little bit higher, a you can make payment every two weeks instead of once a months. Don't add him until you talk to someone who understand the loan. And do you have any idea on how much you want to spend on the house?

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