do you and your spouse have separate accounts like.....

[Dancing Fire]

Date: 2/26/2005 12:16:36 PM
Author: fire&ice

Date: 2/26/2005 1:10:26 AM
Author: lop
I think I must have a chinese gene, because I really don''t believe in debt unless it is well managed and for a reason (like leverage) that makes sense in the bigger picture.

Me too! No debt unless the numbers work in your favor. Though I am inclined to believe in using other people''s money if I can make money doing so.

I use the credit card to pay for most items for two reasons - 1. I''m a point pig 2. Extra security with purchases. But, I pay it off each month. I think credit card debt is a scorge on earth. It''s fiscal ruin in my opinion. At least when you pay cash, you have the cash in hand.

0% - on credit cards - haven''t seen that deal unless you transfer balances. Don''t want to do that because of my points.

i been getting 0% for the last 3 yrs.i just transfer the balances to another cc that offers 0%when the time is up.

 

[cobaltgirl]

Dh and I have a joint account, but I have a seperate checking and savings he doesn''t know about that I made when things were really bad between us. I''m going to keep it despite things getting better.

 

[cutes814]

We have everything seperate except for one joint savings account for our daughter. I''m planning to take his last name after we''re married.


To answer the questions a few of you had regarding joint cc''s and credit scores. It will definitely help develop the new person, or lower score person''s credit when you open a joint account. For example, if you open a joint cc for your daughter, and your credit is strong, your daughter will start getting that strong credit history on her report.

Your credit score is based on many things. If you pay your cc''s on time, even if you''re just paying the minimum, your score will stay strong. If a payment is 30 days over due, it affects it big time. Getting your payment in on time is EXTREMELY important. Score also depends on the number of trades on your report, debt to balance ratio, number of inquiries within last 6 months, variety of trades. The score is NOT the most important thing. For example, when you go buy a car, they pull your credit, they look at the score, but the most important thing they look at is your credit history. How long have you been on the bureau? Do you have any previous auto loans? Do you pay your bills on time? How many trades have you had? And such...

So if you want extremely good credit, i.e. tier 1 credit, all you have to do is pay your bills on time, keep the debt to balance ratio percentage low, have variety in your credit history (i.e. have different cc''s, department store cc''s, auto loans, mortgage, etc), and make sure to check your credit every 6 months to prevent identity theft.

 

[sxn675]

It's interesting to see all of the responses! I changed my name when we got married, and also took my maiden name as my middle name. This thread is a reminder that I need to change my name on some of my investment accounts . We have joint checking and credit cards. We also have individual credit cards from before we were married. We also have individual investments from before we were married that we continue to add to. I'm part of an LLC with my parents and siblings so I have some assets there as well. Once I'm done with my PhD and he's done with residency, I'm sure we'll diversity a bit and maybe even add some joint investments.

 

[butterfly 17]

We have a joint account with chase, both a savings and a checking account. I have my secret diamond fund account only in my name and we also have two savings/pmma accounts for each of our kids that we deposit money into weekly.