(Closed) Do you have credit card under your own name

posted 5 years ago in Money
  • poll: For bees with shared finances with partner, do you have a credit card under your name?
    yes : (154 votes)
    93 %
    no : (12 votes)
    7 %
  • Post # 3
    Member
    246 posts
    Helper bee

    This “sole name” mindset lacks foresight.  Should these women ever separate from their partners they will not be able to get any type of credit account.  In many cases this means not even finding someone who will rent to them. 

    Additionally, it can limit the size of a mortgage or car loan that they are eligible for WITH their parter, as their income may not be considered when calculating the loan, due to their lack of established credit history.

    It’s always important to set yourself up for financial independence.  Even if your SO is the sole earner, you should always have a few accounts in your own name, for the above and so many other reasons.

     

     

     

    Post # 5
    Member
    930 posts
    Busy bee
    • Wedding: June 2013

    I know nobody ever thinks they might split with their husband, but realistically, not having anything in the wife’s name is dumb….for her financial future….just in case. 

    Post # 6
    Member
    1278 posts
    Bumble bee
    • Wedding: March 2013

    Everything in this house is joined. Both r cars are in both names. The bills come to both of us. His name is on almost everything that is mine and visa vera BUT I do have a couple credit cards I had before we joined accounts that don’t have his name on them. He said it doesn’t bother him because none of those cards have balances and haven’t in awhile. He also has one credit card that my name isn’t on, also with a zero balance. I agree that its better for the wife to keep her credit rather than just have his name on everything, but we didn’t do it for that reason. We did it because we share all expenses and have for 4 years. His paycheck gets direct deposited into the bank that was mine (it’s a credit union is the reason we chose mine over his) before we got engaged. Now it’s both of ours of course.

    Post # 7
    Member
    6743 posts
    Bee Keeper
    • Wedding: June 2014

    Oh jeez.  I have an Amex, a Discover, 3 Visas and a Mastercard.  I sound like a crazy.  they’re all under my name, my social.  My Fiance has a card under his name that is under my account for the Discover and 2 of the Visas.  One of the Visas and the Mastercard are actually debit cards, not credit cards.  The Visa goes to my chase account.  The Master goes to our joint TD account.  Or something along those lines.  So in reality, I only have 4 credit cards, 2 of which Fiance are on; 2 bank accounts, 1 of which Fiance is joint on; and he has 1 credit card without me.  So, we have a very big mix of joint and separate accounts.  The only thing he doesn’t have is a bank account without my name on it (that I know of lol). 

    Post # 8
    Member
    10453 posts
    Sugar Beekeeper
    • Wedding: February 2014

    Absolutely I do. It seems insane not to. 

    Post # 9
    Member
    527 posts
    Busy bee

    No, but that’s because I defaulted on my cards about five years ago.  When my credit gets better, I might get a CC in my name, but idk.  I really messed up with credit cards, and although I’d like to think I’d be more responsible now, I’m not sure I want the temptation.

    Our apartment is in both of our names, but the utilities are in DH’s, and our cell/home phone/internet is in my name.

    Post # 10
    Member
    703 posts
    Busy bee
    • Wedding: June 2014

    I have a small limit credit card in my name only, however my Fiance will be the “sole name” on any sort of car/mortgage loan we may get in the next few years. I have about 45k in school loan debt and since I only work part time since graduating last year, it would be more of a detriment to have me listed on any loans. My debt to income ratio is crap. 

    We are both listed on any sort of store credit cards (Macys, kohls, etc) but big stuff is all him right now!

    Post # 11
    Member
    7405 posts
    Busy Beekeeper

    Thats one mistake I will NEVER make. Being married doesn’t mean you shouldn’t be prudent. 

    Post # 12
    Member
    7405 posts
    Busy Beekeeper

    _double post_

     

    Post # 13
    Member
    7771 posts
    Bumble Beekeeper
    • Wedding: July 2010

    I put “yes” but I don’t use credit cards.  I put yes because I always put everything under my own name- bank accounts, debit cards, energy accounts.  I think some might be under DH’s name, if he set them up- like ATT.  We always add the other anyhow.

    Post # 14
    Member
    1423 posts
    Bumble bee
    • Wedding: May 2009

    At the moment, all of our accounts are joint.  Our credit cards still are on my credit report, though and are part of my credit history.  I’ve been meaning to get a card in my name only, but I have been lazy and haven’t gotten around to it. 

    Post # 16
    Member
    8453 posts
    Bumble Beekeeper
    • Wedding: April 2013

    I don’t work, all of our finances are merged, but I still have accounts and credit cards in my name just in case.  I think it’s crazy to be completely dependent on 1 person as an adult, unless there is some sort of disability. 

    The topic ‘Do you have credit card under your own name’ is closed to new replies.

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