Should You Get That Joint Credit Card With Your Spouse?

Should you get a joint credit card with a spouse?

Transcript

00:00so you and your partner have taken the plunge and now that you're married you're wondering

00:07should we share a joint credit card well it depends brian kaderna the author of millennial

00:12millionaire tells cnbc that it might be a good idea if one of you has great credit and the

00:17other's credit history is minimal it could help your partner build credit and boost their score

00:22of course there are risks like if your partner has had issues with credit card debt in the past

00:27or if you end up splitting up the other option would be simply adding them as an authorized user

00:32on your card but sometimes there's a fee for that if you do decide to share a card broke millennial

00:37founder aaron lowry points to the importance of knowing your balance you don't want to go over

00:41utilize your card because you didn't realize your spouse charged the new fridge on the joint card

00:46nerd wallets suggest setting up alerts to make sure that doesn't happen and of course talking to your

00:51spouse too alerts are good for payments too since you may think the other one's going to pay it

00:56if you decide to go with a joint card you may want to make it somebody's job to do that so that doesn't

01:01happen