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2. Building shared credit access and usage


Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Divorce
Death of a Life Partner
Military Life


Building shared credit access and usage. “How should you handle present and future debts?

The handling of credit cards and credit card debt requires two separate conversations: First, how are you going to handle credit card debt acquired before joining your lives together? Second, how do you want to handle credit cards going forward?

Credit cards can be held in your name alone or in both of your names. However, remember that if you are married, you are responsible for all debts of your spouse, regardless of whose name is on the card or loan.

The following subtasks may assist you in building shared credit access and usage. You will find detailed resources for these subtasks under the links in the right column of this page.

Subtask 1: Decide how to handle credit card debt acquired before melding your lives together

Subtask 2: Decide how to handle credit cards going forward in your relationship

Subtask 3: Understand your mutual debt obligations


Blending Two Lives Tasks

1. Creating a joint spending plan
2. Building shared credit access and usage
3. Managing dual careers
4. Protecting your income with life insurance
5. Estate planning

Building shared credit access and usage Subtasks

1. Decide how to handle credit card debt acquired before melding your lives together
2. Decide how to handle credit cards going forward in your relationship
3. Understand your mutual debt obligations

Permanent link to this article: http://napfafoundation.org/financial-help/blending-two-lives/2-building-shared-credit-access-and-usage/