If you took a new name as a result of your marriage, there will be a number of documents you’ll need to change, such as your driver’s license and Social Security card. But don’t forget to add your credit cards to that list. If the name on the credit card doesn’t correspond to the name on your new identifying documents (like your driver’s license), you could run into trouble when you try to use the card.
Changing the name on your credit cards entails notifying the credit card issuers of the change, and requesting that they send you a new card with the corrected name. You can initiate your request by phone, or possibly on the company’s website. Be sure to have proof of the name change available (such as your marriage certificate), as the credit card company can require this.
Generally speaking, there are two routes you can take to share a credit card account with your spouse. One way is to have the credit card company add your spouse as an authorized user on your existing account. A second method is to have the company put the account in both your names, as joint cardholders.
Adding your spouse as an authorized user is usually the path of least resistance to sharing a credit card account. Normally, it only involves notifying the credit card company of what you’d like to do, and having them issue a card in your spouse’s name.
The process is relatively straightforward because credit card companies aren’t overly concerned about an authorized user, as this individual has no obligation to repay the credit card debt. As the primary cardholder, you’re the one who’s going to be responsible for paying the balance due, regardless of which of you incurred the expense. The company has set the card’s credit limit and interest rate based on your ability to pay, and an additional user doesn’t change those elements.
If you’re the primary cardholder, you’re liable for all charges on the card. However, depending on the laws of your state and how family law courts will divide property and debt, if you end up divorcing your spouse, you may be able to show that any debts your spouse incurred during the marriage (including those on your credit card) must be shared equally, or in some cases, assigned to your spouse if it constituted a wasting of assets.
Something else to note is that if your spouse has no credit history, or one that’s not as good as yours, authorized user status can be a plus. If your credit card company reports an authorized user’s card activity to the major credit reporting services (Equifax, Experian, and TransUnion), adding your spouse as an authorized user may help the spouse start to build credit, or possibly improve an existing credit score. Of course, this is conditioned on your keeping the card in good standing, such as by making your payments in a timely manner and not exceeding your credit limit.
It’s a good idea to check with the credit card company in advance, to see how they address these various issues.
If you want your spouse to be a joint holder of your current credit card, the process is more complicated than just adding an authorized user. The reality is that the credit card company may not even allow it. Most likely, they’ll want you to open a new account in both names. (Be aware that it’s possible a company may not allow joint accounts at all.)
Whichever way you obtain a joint account, you and your spouse will generally be equally responsible for the entire amount due on the card. That being the case, the company will run a credit check on your spouse before agreeing to joint cardholder status. They’ll do this to determine your spouse’s ability to pay any amount that could ultimately be owed on the account.
Because you’re both responsible for the entire balance owed on the card, how the two of you handle the account will affect your individual credit scores. That can be a double-edged sword. On the positive side, prudent use of the card can benefit both your credit ratings. But misuse by either spouse will negatively impact the other, and could also result in the credit card issuer decreasing your credit limit, imposing a higher interest rate, or closing the account.
If you have questions on the legal implications of changing the name on your credit card, or adding a spouse to your credit card account, consider consulting with a knowledgeable local attorney.
