What are joint credit card applications and what are the benefits?

A joint application credit card is an application for  credit card that allows two people to use it. An individual completes a credit card application and then requests an additional card. The other card or cards will have that second person named on it, but will have the same account number assigned to it. Probably the most common example of this is a husband and wife or parent and son/daughter. This is the basis of joint application credit cards.

In many cases married people have joint financial accounts for such things as savings, checking and investment portfolios. It greatly simplifies the management of finances. Another common reason for filling out a joint application credit card is a parent wanting to support their child in establishing credit.

The debt acquired by one of the cardholders is also the responsibility of the other cardholder. As long as your name is still on the card, you will be held responsible for any and all debts accrued. The way to stop this is to pay off the debt in full and cancel the card so there can be no further purchases made with it. Canceling a joint credit card can be done by a single party, as long as the account is free of outstanding debt.

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