Convert Existing Individual CC Account Into A Joint Account

[Anonymous]

Been married 3 years.  Both of us have excellent credit history and scores.  Looking to have a CC account for joint purchases such as travel or home repairs.  I have two Chase accounts.  One I use only occasionally and the other I have not used in 5 years.  Would one of these be better to convert into a joint account than the other?

[vanillabean]

Welcome to the forums!

I'm not sure an individual account can be converted into a joint account. Even if it can, there's a chance the opening date may be reset to the present time, and you don't want to take that chance.

I suggest getting a new account for joint purposes.

Of course you can also simply go AU, letting one be an autorized user on a card of the other. But the AU has no responsibility, unlike joint.

Do you have a shared checking account or separate checking accounts?

[haulingthescoreup]

I think that BofA lets you convert? Creditaddict explained this recently, and sadly, I've already forgotten.

I agree with my-own-fico: there's no reason to go joint, if you can go AU (authorized user) instead. You can each use the card, but the responsibility for repayment stays with the cardholder.

Joint credit can blow up in many unpleasant ways, and no one ever thinks it will happen to them, until it does. Fun situations include, but are not limited to, personal bankruptcy and divorce.

[Anonymous]

Hi and thanks for the quick reply.  I did call Chase and they will convert to joint.  Requires spouse fills out some personal info.  So perhaps the account date does restart.  Perhaps Chase can tell me.  We have both shared and individual checking & savings and use our debit cards 99% of the time.  My main reason for converting was that between us, we already have several (6 - 7 ish) individual cards.  I would rather not create another one, especially when the two Chase cards are little or not used at all.  AU is another possibility, as the risk factor is low.  Any additional thoughts?