The 'INEQAULITY' of CC's in marriage.

[boefixepa]

Okay, so I am getting married....

I am trying to get as many things changed as I can and trying to do it little by little so I don't go crazy and pull all my hair out.

I want to add my husband to two of my CC....the ones with the longest history. So I call them.

Now there is no problem adding him to the account as an account manager, or getting a card issued in his name.

The problem lies in the fact that there is NO WAY to change my account into a joint account and have him as an 'equal' in everyway. Even if I closed the account and re-applied for the cards there would still have to be a 1, 2 kind of thing.....????

American Express specifically will NOT issue joint accounts....

Never having being married before I find this VERY offensive.

Now I have the upper hand in this because dear hubby to be has been smarter than I over the years and has never had CC's, so he doesn't have much credit history. I wanted to get him on these cards, because of the history they have. I know my history can not be transfered to him, but the fact that I can't even add him as an 'equal' only as a manager or authorized user is just plan......unfair.... to me!!

There will come a time in our marriage where he is earning all the money yet he will not be the 'primary' account holder on the cards. I know if the situations were reversed I'd be spitting nails at these people.

Is there anything anyone knows about that will help in this situation?

Would it be best to slowly, over time, like a few years. Cancell and reapply for the two-three cards I have and reaplly in his name?

For those who have been trough this before, please advise.

Oh, and what do I do about the house? The mortgage is in my name....do I basically have to sell it to 'us' and pay all those fees again?

He doesn't have a 'bad' credit score or anything, just not alot of history. Hat's off to him though...he managed to get a BS and an MBA without borrowing a penny....didn't I make a great choice.... (I'm still amazed!!)

[simpleyme]

Me and DH each have cards in our own names with the the other as primary card holder its really never been a problem

when we got our first house paid for we just went to the court house and paid to have my name added to the deed

it has never been a concern who has what or whats his or who earns more all of our stuff is ours we have been married about 23 years

[boefixepa]

I've been told it's not hard to change the deed for the house....but what about the Mortgage? That's more what I'm worried about. I don't want to keep everything in my name. I want to add him to things so that we can get his credit established and start building HIS credit as eventually he will be the only one with an income and I don't want to be turned down for a future mortagage because I am the one with all the credit history and he's the one earning the money.

[simpleyme]

hmmm maybe others have a better idea than me but
even when i did not work my credit score always mirrored my husbands i am not sure why

If you have equity in a house and one of you has income I doubt you will have any problems getting a motgage, if you do you would just need to go to a bank that does manual underwriting ,
by the way congrats on your upcoming marriage

[JanH]

We have a couple of cases where we have two separate credit card accounts with the same bank. The others have one of us as the primary and one added on. We have alternated those so we each have a long-term account. But on the individual credit reports, I believe the cards we are joint on are listed on both reports. We have a couple of cards that are just individual cards. I sorta think of it like car insurance. For some reason one person has to be a primary on each one.

[LivingAlmostLarge]

I don't know, but I built literally DH's credit score. Without me there would be none. He was a foreigner on a visa and I put him jointly on my CC. Yeah dumb move, thankfully I was 20? Well live and learn. But anyway in a couple years he has a score above 800. Nice. And when he came in 2000 he had nothing.

[jIM_Ohio]

My wife and I have opposite credit histories. I always paid student loans, cars and CC on time. My score is in mid 700's (one time as high as 780). I had a CC with a $10,000 balance on it, and I paid it off over a 2 year period while I was fresh out of school.

My wife's score was in low 600's when we met. late CC payments, carried balances, student loans behind, never had a car payment.

I got a his and hers discover card after we were dating for some time. My SS# was only one on account.

I have since issued her a card on 3 other accounts I have.
We use my old checking account, I must call and do all the stuff- her name is on account and she has atm card, but I am primary.

We have since opened another account after we were married and both of us can get that.

We tried buying a condo together (before we were engaged), her credit score was too low, so we put it only in my name. We refinanced a few years later and added her on mortgage, deed etc.

We have since bought a bigger house and her credit score is "heeled" (high 600's). To fix score when we financed cars, we put them in her name... we also closed lots of her old CC accounts.

My comment would be take this in small steps... and as time goes on, the credit history of one reflects on the other (you'll both have to sign many things together).

If you finance a car, always put it in name of lowest credit score (to raise the score of that person).

[MonkeyMama]

I am not sure you can just add a name to a mortgage - probably have to refi. My sister actually HAD TO refi when she got divorced to get her husband's name off the title and the mortgage. Seems like similar when getting married - though the mortgage is probably the bigger issue.

[tinapbeana]

I am not sure you can just add a name to a mortgage - probably have to refi. My sister actually HAD TO refi when she got divorced to get her husband's name off the title and the mortgage. Seems like similar when getting married - though the mortgage is probably the bigger issue.

ditto: my sister, refi, and divorce.... i know here you can put whomever you want on the deed and just pay a fee to have the deed re-drawn, but that won't to diddly to help a credit report...

unless you were already looking at a refi for your home, i would imagine it would be more hassle than the increased credit history would be worth. perhaps he would be better off creating some revolving credit in his name at a store your household shops at already (i.e. target, home depot).

also, and please know i am IN NO WAY sure if this is how this works, but if his name is with yours on the deed, wouldn't or couldn't his name be on a second mortgage or HELOC? perhaps something to consider instead of an actual refi...

[PrincessPerky]

Actually as the secondary myself I can tell you it is EASIER if the person home is primary...when you want to call and cancel or ask for a lower rate, or ask them to stop sending those annoying checks, you get to, I on the other hand..ugh

Anyway, as to building his credit, I think as secondary it is built a bit, then you can get him his own, (with you secondary or not, so long as it is paid off all the time no big)

As to mortgage, depending on where you live you might not need to worry legally, my name is not on the mortgage as my credit is not good (had no CC, and not good with car insurance) but I was told should anything happen to him legally as his wife it is still half mine. Though that wont help his credit history, since you already have a house ...(I am in NC)

Same way with the car, and house bills. (though I think I made one in my name was the last thing turned on and they asked if I wanted to...figured it would be good for credit) Anyway once I get regiseted as officail person they let me change the billing and stuff.

[PRICEPLUS]

My wife and I have seperate credit histories and we feel comfortable with that now. My wifeis in the low 700's and I am slightly over 800! As it turns out I am glad I am not on my wifes CC's and I am really glad she is not on mine.

It is always good to have your own credit history due to, God forbid, divorce, financial ineptitude, or death! Never depend on someone else for something you may need one of someday! A credit history is in my opinion something one must have!