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Q & A: Credit Cards
Question
Do I need to get a separate credit card before I'm actually divorced? Why?
Answer
Yes. Apply for a major credit card in your own name before you separate! There are five basic reasons to apply for a separate credit card before exiting the marriage:
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It allows you to establish a separate credit rating;
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It will facilitate the outfitting of your new home;
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It will enable you to keep your for-the-future purchases private;
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It's one of the first things you'll need to do when you separate cancel all your joint credit cards, so your soon-to-be-ex can't run up bills for which you'll be responsible;
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You can honestly use the household (joint) income figure when applying for the card.
As with the checking account, this is a wise step to take within a marriage as well as it is when exiting, for you will be establishing your separate credit history.
At the time of your separation, cancel and cut up your joint credit cards, including major credit cards, store cards, gas company cards and any others. By all means, tell your soon-to-be-ex what you're planning to do and when! It's humiliating to try to charge an items and have the clerk refuse your card. There's no need to inflict unecessary pain.
~ August 1999
Related Articles
Divorce, What Financial Records To Take When You Leave
The Role of A Divorce Mediator
Divorce, What Personal Possessions To Take When You Leave
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