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A Credit Card for the Honeymoon Couple
It is easy to distinguish between couples that are newly married and those that have spent many years together. Even the ones that do not walk around like Siamese twins have a twinkle in their eyes and a glow on their faces that reveals their identity. Of course, once the honeymoon period is over, the issues of daily life have to be handled. Long hours at the office. Coming home to wash dirty utensils or cooking. Making payments for the monthly bills. Marriage is not like permanently being on cloud number nine! Just as married life has its ups, it also has its share of downs.
So if you are a newly married couple looking forward to sharing wedded bliss together, you should make it a point to learn how to deal with the potential thorns in your relationship. And finances are one of those thorns.
If both of you are working, ensure that you are ready to answer the question of who should be paying the bills. Be prepared for long-winded arguments over the size of the phone and electric bills. It is bizarre how many arguments begin and end over monetary issues. How do you minimize the occurrence of such arguments? Perhaps you should deliberate on mechanisms such as that of the joint credit card.
How do you get hold of a joint credit card? It really is quite clear-cut. You and your spouse could easily apply for such a card. Alternatively, you would have to make available your spouse's details to the credit card company asking them to add him/her to current credit card account.
Sounds a lot like the joint bank account doesn't it? However, despite the similar nomenclature, joint credit cards are quite a bit distinct from joint bank accounts. Whereas in the case of the joint bank account, both signatories are said to be legally responsible for the debts that are incurred, in the case of a joint credit card, the original signatory is held responsible.
This is a good step to take for those who are in a completely stable marriage. However, if you are the type that marries fifty or more times, it would be preferable that you steer clear from such an account. If you take the risk of badgering your spouse too much, you might just end up penniless, thanks to a revengeful shopping spree on his/her part.
As with everything, even a joint credit card is not free from its set of problems. Moreover, it is a big step to take. Are you sure that this is the time to make such a commitment? Sharing a credit card with someone else is a huge bug deal. See to it that you do not take such a major check unless you are totally ready.
Ajeet Khurana recommends that you read: credit card comparison, best credit cards, and interest free credit cards.
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Tags: Credit Cards : Business
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