Joint Credit Cards: Are They a Good Idea?
A joint credit card is when two people share a credit card account. Both account holders are equally responsible for paying charges on a credit card. The payment history for the card will appear on both cardholders’ credit reports. Joint account holders also have equal claim over the rewards on the card.
Being a joint credit cardholder isn’t the same as being an authorized user. Authorized users aren’t legally responsible for repaying the debt on the card that they’re added to. Joint credit cards are also rarer than cards that allow authorized users. And as with anything, joint credit cards come with their own set of pros and cons.
How do joint credit cards work?
For issuers that allow it, joint credit cards allow both cardholders to be equally responsible for repaying the debt on the card. Both have equal access to the credit card, with the same rights to make charges and update the account.
A joint account can make household budgeting easier, since you can see all the spending in one spot. In addition, there’s no privacy on a joint card account, which means both account holders can see each others’ charges. If you have a low credit score, you may have better odds of qualifying for a joint account if your co-applicant has a good credit score. However, sharing a credit card with someone can also be risky. A joint account could help or hurt your credit score, depending on the spending habits of the other cardholder.
A joint account is a serious commitment that requires a high level of trust. You should also keep in mind that you likely won’t be able to remove your name from the account unless the other account holder agrees to closing it.
| Pros | Cons |
|---|---|
Streamlined account management Can help both parties learn how to manage finances together Can help both account holders build credit Account holders have equal access to credit card rewards | One account holder’s poor spending habits could negatively impact the other account holder's credit score You usually can't remove yourself from a joint account without closing it Both account holders have a full view of each others' spending Few issuers offer joint credit cards |
Joint credit cards vs. authorized users
Adding an authorized user to an existing credit card is another way to share an account with a friend or family member, but it’s not the same as having a joint account. Just like a joint account, an authorized user can make charges to your account and can use the payment history from your account to build a credit history.
However, an authorized user won’t be liable for the charges on your account and can be removed at any time, making it a less risky arrangement than a joint account. It’s also much easier to find a card that lets you add an authorized user.
| Joint Credit Card | Authorized User |
|---|---|
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Which banks offer joint credit cards?
Joint credit cards are rare these days, though a few major issuers still offer joint accounts. U.S. Bank allows cardholders to add a joint owner, even to an existing credit card. PNC Bank and local credit unions may also offer joint credit cards.
How to get a joint credit card
The biggest challenge to getting a joint credit card may be finding an issuer that offers them. Your own issuer may be a good starting point — you should call your bank to see if you can add a joint account holder to your current account. If that’s not possible, you should ask if your issuer will allow you to open a new joint credit card account. If not, you’ll need to search for options with other issuers, including those that we’ve listed above.
After that, you’ll follow a similar process to applying for a credit card individually. You and your joint credit card partner will need to provide your credit history. Approval will depend on both credit scores. So if your co-applicant has a poor credit history, you may need a high credit score to offset it.
Can you add a joint owner to a credit card?
This depends on the issuer. U.S. Bank allows a joint account holder to be added to an existing credit card. Other issuers may only allow an authorized user to be added to an existing credit card, but they may have a provision for joint owners to start a new credit card account together. It’s best to contact the issuer directly about this.
Best joint credit cards
Few issuers offer joint credit cards — the following cards are the best options we could find from major issuers.
| Earning rate | Sign-up bonus | Annual fee | |
|---|---|---|---|
| U.S. Bank Cash+® Visa Signature® Card | 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose. 5% cash back on prepaid air, hotel and car reservations booked directly in the Rewards Center. 2% cash back on one everyday category, like Gas Stations and EV Charging Stations, Grocery Stores or Restaurants. 1% cash back on all other eligible purchases. | $200 bonus after spending $1,000 in eligible purchases within the first 120 days of account opening | $0 |
| U.S. Bank Visa® Platinum Card | Non-rewards card | No bonus | $0 |
| U.S. Bank Business Triple Cash Rewards World Elite Mastercard® | Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants. 1% cash back on all other eligible net purchases. Earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center. No limit on total cash back earned. | Limited Time Offer: Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account. | $0 |
| Apple Credit Card | 2% Daily Cash every time you use Apple Card with Apple Pay, 3% Daily Cash on all purchases made directly with Apple and select merchants and 1% on other purchases made with your physical Apple Card | N/A | $0 |
Alternatives to a joint credit card
While joint credit cards are rare, you do have a few other options that can help build credit:
- Add an authorized user to an existing credit card. This is another way of sharing an account with another person. An authorized user can build their credit and make charges on the credit card, but won’t be responsible for repaying the balance. An authorized user can be removed at any time, and they don’t need to use the card for the account history to appear on their credit report. This option is a lot easier to find than a joint credit card, and it’s one some parents use to help their children build credit.
- Secured credit cards can be a good option if your credit score is too low to qualify for an unsecured credit card. You’ll need to make a cash deposit to secure a credit line, which may match your deposit. You can use the card just like an unsecured card, to make purchases and pay for the purchases later. By making timely payments with the card, you can build credit and eventually qualify for an unsecured credit card.
- Getting a cosigner with a strong credit history can help you qualify for a credit card, if your credit history isn’t strong enough for you to qualify on your own. Note, many credit card issuers don’t allow cosigners. Plus, you’ll need to find a friend or family member who’s willing to be liable for your debt, which might be a no-go.
Is a joint credit card right for you?
A joint credit card can help you and your partner build credit faster and consolidate your household expenses into a single account for easier management. However, a joint account requires a high level of trust and communication. A joint account puts you at risk in case the other account holder isn’t responsible with the card. Furthermore, few issuers offer joint credit card accounts, so you may have a hard time finding a card that fits your needs.
Adding an authorized user is a less risky option that allows you to share an account with a friend or family member and can also help build credit. Since most credit cards let you add an authorized user, this may be the way to go if you’re trying to consolidate expenses on one card.
Yes. A few issuers, like U.S. Bank and PNC, offer joint credit cards. You should contact the issuer for details on how to open a joint credit card.
You may be able to freeze a joint credit card, but it depends on the issuer. You should contact your issuer to ask whether they allow this. Keep in mind that if there’s an outstanding balance on your account and you don’t pay it, it could negatively impact your credit score.
Yes, you can open a joint credit card without being married. However, you should only open a joint account with someone you trust. It may be someone in your household, like your son or daughter.
Some issuers may allow you to remove yourself from a joint credit card, but in most cases you’ll have to close the account. You should talk to your issuer to find out whether they will remove you from the account.
Yes. Even if only one person makes charges on a joint credit card, both account holders are responsible for the balance and any late payments. If one cardholder has poor spending habits, both account holders’ credit scores will suffer.
Each credit card for a joint credit card account should have separate numbers.
Joint credit cards can help you boost your credit history, but both cardholders will need to have responsible spending and payment habits.