Life’s Financial Journeys
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
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2. Building shared credit access and usage
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