 TITLE: The Pros and Cons of a Joint Credit Card CONTENT: Should You Open a Joint Credit Card Account?\n--------------------------------------------\nIf you're considering a joint account, have a frank discussion with the co-applicant about the responsibilities that come with having the card. It's good to put it all out on the table, including your spending habits and credit philosophy in general.\nMake sure it's clear to your co-applicant that they will be legally responsible for repaying any charges you make, and vice versa. Set up guidelines for how much you both expect to charge to the account in total, how you'll make payments and how you'll avoid accruing debt and interest charges.\nIf a joint credit card sounds overwhelming, it might make more sense to add the person as an authorized user. They'll be able to make purchases, but you'll still have full control over the account. The account can even help improve the authorized user's credit, if that's a motivating factor for opening a joint account.\nEven if you do choose to use a joint account, both cardholders could consider opening a separate credit card account in their own names too. That provides a backup in case the relationship ends or the joint account isn't working out. END