Which Banks Offer Joint Credit Cards?

A joint credit card allows two or more people to share access and responsibility for a single account. This arrangement can be particularly beneficial for couples, family members, or business partners who seek to manage shared finances transparently. This article aims to clarify the nature of joint credit cards, identify institutions that offer them, explain the application process, and outline the ongoing responsibilities associated with these shared financial tools.

Joint Credit Card Fundamentals

A joint credit card account is characterized by shared ownership and mutual liability for all debts incurred. This means that if one account holder fails to make payments, the other holder is fully accountable for the outstanding amount. The financial actions of each cardholder, whether positive or negative, will directly impact the credit reports of all associated individuals.

This structure differs significantly from an authorized user arrangement, where one person is the primary account holder and solely responsible for the debt. An authorized user receives a card and can make purchases, but they are not legally obligated to pay the bill. While authorized users may benefit from the primary cardholder’s positive payment history on their credit report, they do not share the same level of financial responsibility or account control as a joint cardholder.

With a joint credit card, both parties typically have equal access to the credit line, can make purchases, and can view all account activity. The credit card issuer assesses both applicants’ credit histories and financial standing when considering approval for such an account.

Major Banks Providing Joint Credit Cards

True joint credit card accounts, where multiple individuals are equally liable, have become less common among major financial institutions. Many large banks have shifted away from offering these products, often preferring authorized user arrangements instead.

U.S. Bank allows for joint credit card accounts. For many of their consumer credit cards, excluding secured cards, a joint cardholder can be added to an existing account. This process often involves the primary applicant applying for a card and then contacting the bank to add a co-owner, who will then need to complete a form.

PNC Bank also offers joint credit card applications, typically requiring both applicants to apply together either by phone or in person at a branch. Bank of America’s process may involve one person being approved first, with a co-applicant then added to share financial responsibility. The Apple Card, through its “co-owner” feature, allows up to six individuals to share an account, with all co-owners being equally responsible for the debt. Beyond these larger entities, some regional banks and local credit unions may also offer joint credit card options, providing alternatives for those seeking such arrangements.

Applying for a Joint Credit Card

Applying for a joint credit card requires a coordinated effort from all individuals involved, as the financial institution will assess each applicant. Typically, both prospective cardholders must provide their personal details, including full names, addresses, and Social Security numbers. Information regarding income and employment status will also be required from each applicant to determine overall household financial capacity.

The application process involves a credit check for every individual, with the issuer reviewing each person’s credit history and score. If one applicant has a significantly lower credit score or a less favorable credit history, it could impact the approval chances for the entire joint application.

Joint credit card applications can often be submitted online, though some financial institutions may require an in-branch visit or a phone application. It is important to ensure all necessary documentation and information are readily available from both parties before beginning the application.

Managing Joint Credit Card Responsibilities

Once a joint credit card account is established, both cardholders are legally and equally liable for all financial activity and charges, regardless of who made the specific purchase. All payments must be made on time to avoid late fees and negative impacts on credit scores.

Account activity, including payment history and outstanding balances, is reported to major credit bureaus for all joint account holders. Positive payment behavior helps build a strong credit profile, while missed payments or defaults negatively affect all associated cardholders’ scores.

In situations where one party wishes to close the account, or if disputes arise, the shared liability can present complexities. Both account holders typically need to agree to close the account, and any outstanding balance must be settled. The shared nature of the debt means that even if one person stops using the card, the other remains fully responsible for any existing or future charges until the account is closed and the balance is paid.