Most married couples choose to have a joint credit card. As they live together and incur a lot of expenses, having a joint card is considered more beneficial. This also ensures transparency between the couple as both are aware about each others expenses and areas of expenditure. However, a situation may arise when you find out that you have been removed from the joint credit card. If you are an authorized card holder and an active user, being removed for an unclear reason gives rise to hundreds of suspicions. Such a financial infidelity is not at all healthy for a couple. There may be several reasons for this. Your spouse may be indulging in unnecessary spending without you knowing about it. They may be spending into areas you don’t like them to spend. This may also make you feel betrayed as you are not allowed to look into the expenditure of the card you were an authorised user of. However, there are instances where such an action is justified. If one of the members is spending way more than required and it is leading to a lot of debt, it makes sense for the member to quit credit card membership for some time. If you want to make a big purchase, such as buying an expensive house or a new car, your credit worthiness is always checked. Hence, if the member that spends more is no more involved in the case, the credit score improves over time. This would help you get an interest at a comparatively lower rate. This is beneficial for the couple, but these actions should be taken with the consent of both the spouses. It is a mutual and not an independent reason.
Hence, if you are ever holding a joint credit card, never take such a step no matter what the reason for it is. Even if you have incurred huge debt that you don’t want your spouse to know about, come clean and settle the situation. It is much better than your spouse finding out that you have secretly removed them from the card authority. Keep the transactions between you and your spouse transparent, because if secrecy and suspicions creep in, it is sure to be both a financial and a personal loss, and you would never want that!
0 Comments
Leave a Reply. |
|