The problem we see with this is that we lose out on a higher overall credit line.I inquired with one of the credit card companies and they just informed me that there was no process of consolidating credit card accounts due to recent credit regulations.And yet seven out of ten American men and women enter into matrimony with some amount of debt – primarily credit card debt and student loan debt.And the bottom line is this: In most cases, once you are joined in marriage, the debt of your partner becomes shared debt, not just in the moral sense, but legally, as well.By Abby Hayes/For years, the standard financial advice for couples was to combine their finances.
Each person brings the totality of his or her self into this new entity; all the good and not-so-good qualities they possess are part of the deal.
It can be tricky to bring two different ways of handling money together.
Once you get married it is important to merge your finances.
I am not trying to do anything special to move money around to different interest rates (since I pay my cards off every month), I just want to simplify the number of cards I have.
We also do not have any loans other then our house, nor do we every plan to have any other loans. As per Chad's request, I recommend that you keep at least one card in each name as primary card holder, with the spouse being the secondary card holder, most easily done by each adding the spouse as the secondary holder to his/her own card.