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How do I Choose the Best Joint Credit Card Account?

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  • Written By: Luke Arthur
  • Edited By: Heather Bailey
  • Last Modified Date: 14 September 2016
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Opening a joint credit card account can be a good way for spouses, couples, or family members to share one credit account. Each individual will get a card linked to the account so that they can make purchases. When trying to choose the best one, there are a number of things you should look at, including the interest rate of the card and the rewards you will get from purchases. You should also consider choosing a card with a promotional interest period. Pay attention to the fees charged by the credit card company as well.

One of the most important things you should look at is the interest rate of the card. Every card will have an annual percentage rate charged on purchases. Most of the time, a joint credit card account will charge you a high interest rate. This makes it very important for you to understand what your rate is and if it can change. If you do not pay off your balance, this is the amount of interest you will be charged.

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Something else to consider is any rewards program that comes with the card. Many times, credit card companies will offer you rewards every time you make a purchase so that for each dollar you spend, you will accumulate a certain number of points. These points can be redeemed for things like airfare, hotel accommodations, and merchandise. Every credit card that offers this is going to have a different rewards program, and you should choose one that fits your needs.

You may also want to choose an account that has a promotional period attached to it. Many credit cards will have a 0% interest introductory period, which will allow you to transfer balances from other credit cards over to your new account and save some money. Some cards will provide you with up to a year of interest-free purchases.

Another factor you will want to consider is the amount of fees charged by the credit card company. Some companies will charge you an annual fee and a fee when you go over your limit. You may also have to pay late fees if you do not make your payment on time.

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