- Posts: 1
- Joined: Sun Jan 05, 2014 12:09 pm
- Location: Minneapolis/MN
Hi, Wildcat. Thanks for starting this thread. I'd like to see more comments. Maybe this will post will help get the discussion started again. I have a datapoint for Amex (which seems to accept household income, but not under that name).
Here's my situation - I am the wage earner and my husband is the stay-at-home spouse. I've always taken care of the finances and paperwork, so I've just opened credit cards in my own name. It recently occurred to me that if I died suddenly, he would have no credit available to him, so I started looking into joint credit cards (just as they disappeared from the credit landscape). So now I'm trying to get him a few cards in his name to build up his credit rating.
He recently applied for a Delta Amex Gold (well, okay, I applied for him) and it was instantly approved! The only thing on his credit history was 2 years as an Authorized User on my Delta Amex card. This was good enough to earn him a credit rating of 746 from Experian. In the application I listed the income from our joint tax return (all of which goes through our joint checking account and joint brokerage account). I listed his employment status as "Retired" (since he is over 65). There was another drop-down menu for Income Source; I selected "Spouse/Domestic Partner." Although the phrase "household income" did not appear anywhere on the application, this combination of choices amounts to the same thing.
I wish I had thought of this sooner. I would like to apply for a few more travel cards in both of our names to get intro miles/points for a trip to Hawaii, and I'm not sure if his fledgling credit history can support that. I'm thinking maybe an Alaska Airlines or British Airways card and one hotel card (preferably Marriott or Fairmont). Does anybody have any suggestions on that?
Wildcat, re your BCP question: I believe that "additional card holders" refers to Authorized Users. This just allows your spouse to have her own copy of the card so that both of you can carry it and use it all the time. There is just one account, and one shared $6K cap on groceries. However, since she is an authorized user, all use of the BCP card shows up on both of your credit histories. Assuming you are using the card responsibly, this is a good thing and will benefit her credit rating.