On Sun, 14 May 2017 19:45:46 -0400, Ed Pawlowski wrote:

On 5/14/2017 6:27 PM, wrote:
On Sun, 14 May 2017 14:17:47 -0400, Ed Pawlowski wrote:

On 5/14/2017 1:55 PM, wrote:


Also, you are married, no? If so, you have a combined credit score based on each other's activities whether their was mutual participation or not. The law looks at a married couple as one entity; so a spouse that purchases on credit will create a loan or charge that creates a mutual liability situation.

snip.

But if all payments are made, and all is on time, then both share the benefits. Should that event occur though, if you were the primary (worse, only) wager earner for the married entity, she would be completely sunk because she is single (a new, legal entity)and cannot demonstrate the ability to repay.

Robert


Thanks for the clarification. I told her to get her own card though the
other accounts supply 2 cards. In the past, a single woman had a hard
time getting credit. Never know when you may need it.

This is less true today but it's still a good idea for her to have
credit by herself. If for no other reason, that if you croak, she has
something to live on for a while. It would be unlikely that she could
get credit for a while and your accounts will probably be closed
(certainly if they're not in both names).


Income would take a bit of a hit when my SS goes to zero, but at least
hers (half of mine) will stay in place. There is enough to bury me or
burn me (cheaper and better option, IMO) and she gets my 401k. She'd
have a CC to use while the paperwork gets done. You never know.

Exactly. Account(s) in her name only is cheap insurance. It's not as
bad as it once was[*] but you never know how badly things can get
tied up.
[*] All of the accounts, even the joint checking and savings accounts,
were frozen when my father died. She had _no_ money to live on. She
also had to legally adopt me (I was 12), for some wacked reason.