Although you can give your spouse permission to use your credit card at any time, think long and hard before turning over your card. Keeping close tabs on your credit card — and its balance — is your responsibility. The only way to ensure that your account is percent secure is to remain the only person who uses the card. You have the right to use your credit card as you see fit, provided you do so within the scope of your original agreement with your credit card company.
This freedom of use includes allowing a third party, such as your spouse, to use the card when necessary. While it is legal for your spouse to use your credit card with your permission, you're on the hook for any charges your spouse makes. This is the case even if you give your spouse specific limitations, such as where he can use the card or how much he can spend, that he subsequently ignores.
Lindsay Frankel September 10, 5 Min Read. Editorial Independence We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.
Trending 1. In your inbox every Tuesday. A valid email address is required. You must check the box to agree to the terms and conditions. Thanks for signing up! Sign up. Follow Us Facebook externa link icon. Twitter externa link icon. Instagram externa link icon. One common way spouses obtain and use credit cards is by using a joint credit card account. Joint accounts are those where both spouses are listed as account holders and where each spouse has a duty to pay for debts incurred on the credit card regardless of which person made the purchase.
Joint accounts allow either spouse to use the credit card freely and without permission of the other, and joint credit account information is included on both spouse's credit reports, according to the Federal Trade Commission. An authorized user is someone who is permitted to use another person's credit card. For example, man who has a credit card prior to getting married can, after marriage, add his wife as an authorized use of his account. In these situations, it is perfectly acceptable for the wife to use the credit card.
Bankrate has answers. Our experts have been helping you master your money for over four decades. Bankrate follows a strict editorial policy , so you can trust that our content is honest and accurate. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories.
Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. This content is powered by HomeInsurance.
All insurance products are governed by the terms in the applicable insurance policy, and all related decisions such as approval for coverage, premiums, commissions and fees and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. You may have pledged to take your spouse for better or worse when you married, but does that mean you are responsible for their credit card debt?
The answer to that is not ordained in heaven but depends on the more mundane matters of which state you reside in and contractual obligations. Most U. In these 41 states, any assets acquired by one spouse belong solely to them. On the other hand, in the nine states that go with so-called community law which include Louisiana, Arizona, California, Texas, Washington, Idaho, Nevada, New Mexico and Wisconsin assets acquired in the course of a marriage belong to both spouses.
Common law property states regard property acquired by one spouse as belonging to them alone. However, if you are both named as owners, the property would belong to both of you. If your spouse owns a credit card that is solely in their name, you are not liable for their debt.
And if you are a joint account-holder on a credit card, both of you will be liable.
0コメント