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Should I open a new joint credit card

New Member

Should I open a new joint credit card

Hey all - advice please,


I am moving to europe for a year and am worried about the 3% foreign transaction fee that our joint credit card charges, If we spend $40K on our card each year, that is $1,200. Is it worth the hassle and credit impact to new joint capital one card with 0% foreign transaction fee?


Our credit history


2002 $10K car lease, fully paid all on time 

2006 $10K car lease, fully paid all on time

2008 $30K student loans - currently being paid, no late payments


1 joint credit card - opening 2008 $9K limit average balance $3,000

3 individual credit cards (2 me, 1 her) 5, 8 8 years old - total utilization $2K/$16K

Maybe 2 late payments over the last decade.


I dont know my/our score 


Now that I think about it, I may just suck it up and pay ~$1,200. Also we can try and use debit/cash more to bring that number down.

Message 1 of 4
Super Contributor

Re: Should I open a new joint credit card


It sounds like your FICO score is probably good, assuming that your revolving utilization remains low when you apply.


There are several choices for credit cards that don't have a FTF, do a search and you should be able to find some good recommendatoins ~ obviously you could just go with Cap1 too.


If I were in your situation, I'd gladly open a new account to save the $1,200 in fees.   Assuming that you open a rewards card, you'll make some money in addition to saving too.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 2 of 4
New Member

Re: Should I open a new joint credit card

Thanks - any other takers?

Message 3 of 4
Valued Contributor

Re: Should I open a new joint credit card

To savwe $1200 a year I would. The point loss on your FICO due to the inquiry and the new account should be temporary. To me it makes good financial sense to do so.

Equifax My FICO score 814 11/29/2016, Discover TU FICO 807 12/29/2016 Citibank Equifax Bankcard FICO score 827 12/27/2016 Average of Accounts 13 years and no Installment accounts, 1 TU inquiry in 2015
Message 4 of 4