Joint credit cards good or bad idea?

kitten1224

My partner and I are trying to get in good financial shape so we can buy a house together next year. I have a two small credit cards and he has one slightly larger one.

In terms of interest would be wise to accumulate them together and both pay them off as quick as we can or stick to the three seperate?

On a side note I have an average credit rating and he has a very good one.

grumbler

There is some exception, but generally such thing as a "joint CC" doesn't exist. It's always only a main account holder that is responsible for everything and is reported to CRAs.

In terms of interest it's obviously wise to pay the balance with the highest interest first, and I don't see how 'accumulating' can help or change anything unless this accumulating results in a lower interest rate.

quotememiserable

I also think the joint card approach can lead to more spending, because neither of you really feels ownership of the account.

kitten1224

Thanks for your advice I think that I will just stick with the status quo for now.

anoncol

The only reason we have 2nd cards on our CC is that you only pay a single £2 on the 123 CC to reap the cash back benefits.