Joint Spouse Credit Tips

Looking for a Credit Card for Christmas Shopping? Before you submit a credit card application, first review the main points which will help you choose the right credit card for your needs.

What Charges You'll Make - If you're going to use the credit card mainly for booking airline reservations and hotels, it might be best for you to get a travel credit card that offers sky miles and hotel points or cashback. If this will be an emergency credit card only, then your main concern may be for a low interest rate credit card with low fees.

When You'll Repay Charges - Will you pay off credit card charges in full every month, or will you carry a balance month to month? If you're going to carry a balance, you want the lowest possible interest rate as well as a low introductory rate. But if you'll payoff balances in full every month, then interest rate really doesn't matter so no annual fee and/or a long grace period would be a bigger concern. If you're going to carry a balance, be concerned about how the finance charge is calculated. The most common method is the Average Daily Balance, which means that the daily balances are added together and then divided by the number of days in the billing cycle. Stay away from credit cards that compute the balance using two billing cycles, as this method costs more money in financing fees.

What Amount You'll Charge - If you're going to use the credit card for all your monthly expenses, then you need a card that has a high credit limit and a high cashback percentage.

More info about Interest Rates, Credit Limits, Incentives, Fees and Penalties

Interest Rates - The interest rate (Annual Percentage Rate) APR can either be a fixed rate or a variable rate that is tied to another financial indicator, most commonly the prime rate. With a fixed rate credit card you know what the interest rate will be every month, whereas a card with a variable rate can fluctuate. Of course, even the interest of a fixed rate card can change based on certain events, such as paying your credit card bill late, exceeding your limit, or simply because the credit card issuer decides to change it after providing you ample advance notice.

Credit Limit - This is the amount of money the credit card company will let you charge to the card. This amount varies depending upon the card offer and your credit history. Be sure to get a credit card with an ample limit, because getting close to your max can hurt your credit score. Just remember that you don't have to max out your limit just because it's available.

Incentives - To compete for and to gain customers, many credit card companies offer rewards. Even if you normally use cash, why not use your credit card and then use the cash to make the payment during the grace period? You still won't pay interest and meanwhile you'll rack-up rewards. A credit card with 5% cashback will earn you $5 for every $100 charged. If your total bills come to $2,000 per month, you'll earn a free $100 every month. Look for a rewards program that you'll use and which offers flexibility, such as cashback or travel.

Fees and Penalties - Compare common charges such as late fees, overlimit fees, balance transfers, cash advances, and for making payments by telephone. Regarding balance transfers, look for credit card offers with no transaction fees and zero percent interest for at least 12 months.

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Joint Spouse Credit Tips

By Credit Federal | Published 09/11/2009

Free spouse credit tips for a financially stronger marriage. What married couples should and shouldn't do.

Openly discuss and reveal finances. A lot of marriages end over money matters. Not from discussing, but from finding out secrets the other spouse had been keeping, such as high spouse credit card debt. Don't spring surprises on your spouse. Discuss and share financial responsibilities. Instead of waiting until after marriage, engaged couples should reveal each other's credit standing and history from the start.

Order a spouse credit score

Create a personal budget. You each have your own ideas on how to manage (and spend) money, but now it's time to create and agree to a joint budget that you'll both stick to. In addition to going from one, to two spenders, you may also have only one, or perhaps two, incomes. These new variables need to be tallied. Your spouse may have monthly expenses you're unaware of. Creating a budget also helps you remember to cut costs, such as getting a discount for buying one joint spouse auto insurance policy instead of maintaining two separate policies.

Track spending habits to find shortfalls. This is not to accuse your spouse of abusing the budget, but to find shortfalls. Remember that one spouse's credit card debt is actually; by law, joint credit card debt.

Download our free expense tracking software

Keep the credit card accounts you had while single, just let them sit inactive. If you close the accounts you could lower your credit score, because the more available credit you have the better your score. So, keep those accounts open but idle, and get new joint credit card accounts.

Search for a joint spouse credit card joint credit card application. You may want to get a joint spouse credit card account that tracks and itemizes charges for each spouse's card.

Share financial control. Make deposits and pay bills together. Prepare and submit taxes together. This isn't just to keep finances on the up-and-up, but to know each spouse's debts and to protect the surviving spouse should one spouse die. That's why it's important for both spouses to know what bills are owed, the bank accounts, savings, etc.

Sharing financial control also helps you protect each other from scams such as spouse identity theft and other spouse credit fraud

Prepare for financial hardships and emergencies. Not only does this mean to set aside an emergency fund, but to also prepare for potential disasters like fire, auto accidents, etc. Make sure you have adequate personal property insurance protection and even disability insurance.

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Joint Spouse Credit Tips - by <a href=http://creditfederal.com>CreditFederal.com</a> <div style="text-align: left; font-family: Verdana;">Free spouse credit tips for a financially stronger marriage. What married couples should and shouldn't do. Openly discuss and reveal finances. A lot of marriages end over money matters. Not from discussing, but from finding out secrets the other spouse had been keeping, such as high <a target='_top' href="http://spousecreditcarddebt.com">spouse credit card debt</a>. Don't spring surprises on your spouse. Discuss and share financial responsibilities. Instead of waiting until after marriage, engaged couples should reveal each other's credit standing and history from the start. Order a <a target='_top' href="http://spousecreditscore.com">spouse credit score</a> Create a personal budget. You each have your own ideas on how to manage (and spend) money, but now it's time to create and agree to a joint budget that you'll both stick to. In addition to going from one, to two spenders, you may also have only one, or perhaps two, incomes. These new variables need to be tallied. Your spouse may have monthly expenses you're unaware of. Creating a budget also helps you remember to cut costs, such as getting a discount for buying one joint spouse auto insurance policy instead of maintaining two separate policies. Track spending habits to find shortfalls. This is not to accuse your spouse of abusing the budget, but to find shortfalls. Remember that one spouse's credit card debt is actually; by law, <a target='_top' href="http://jointcreditcarddebt.com">joint credit card debt</a>. Download our free <a target='_top' href="http://creditfederal.com/track-expenses.html">expense tracking software</a> Keep the credit card accounts you had while single, just let them sit inactive. If you close the accounts you could lower your credit score, because the more available credit you have the better your score. So, keep those accounts open but idle, and get new joint credit card accounts. Search for a <a target='_top' href="http://jointspousecreditcard.com">joint spouse credit card</a><a target='_top' href="http://jointcreditcardapplication.com">joint credit card application</a>. You may want to get a <a target='_top' href="http://spousecreditcard.com">joint spouse credit card</a> account that tracks and itemizes charges for each spouse's card. Share financial control. Make deposits and pay bills together. Prepare and submit taxes together. This isn't just to keep finances on the up-and-up, but to know each <a target='_top' href="http://spousedebts.com">spouse's debts</a> and to protect the surviving spouse should one spouse die. That's why it's important for both spouses to know what bills are owed, the bank accounts, savings, etc. Sharing financial control also helps you protect each other from scams such as <a target='_top' href="http://spouseidentitytheft.com">spouse identity theft</a> and other <a target='_top' href="http://spousecreditfraud.com">spouse credit fraud</a> Prepare for financial hardships and emergencies. Not only does this mean to set aside an emergency fund, but to also prepare for potential disasters like fire, auto accidents, etc. Make sure you have adequate personal property insurance protection and even disability insurance. </div> This article provided courtesy of <a href=http://creditfederal.com target=_new>www.CreditFederal.com</a>, a personal credit resource of good or bad credit credit cards and loans.

Credit Tip: Need a high limit for Christmas credit card charges? If you have bad credit, consider a personal loan by refinancing your mortgage. Even if you have cash to buy Christmas presents, we recommend using a prepaid card to make purchases because it's safer than carrying cash.