Credit Card Links

Credit cards after separation

Those stages after a divorce are difficult steps and your joint credit cards are often not even in mind. A separation represents an enormous change in your life and there will be many important financial decisions to make at this difficult time.

Credit cards can be held in joint names and are often shared my partners in a relationship. If you share, it is very important that both of you know that before the eyes of the creditors these joint accounts will continue being the responsibility of both of you and they wont concern themselves over the change in status unless you advise the credit card provider of the change of status. If some outstanding balance exists on a credit or bank account then any positive or negative activity in that credit card will be reflected in your credit card file. Credit cards cannot be closed unless the balance of the debt is paid completely. Nevertheless, something that you can do is to close the account to avoid future purchase. If your ex partner continues using the card without your authorization you will not then be responsible to pay towards the increased balance on the credit cards as you have advised the credit card providers of the change. All you need to do is send a letter to the creditor or supplier of the card explaining to them that your status has changed and that you wish the account closed. You will not then be responsible for the new purchases or charges applied by the credit card provider. The card provider then cancels your ability to further use the card and sends you confirmation of your cancellation by mail. Ideally you should and it is certainly recommendable that you request your ex partner to cancel the card also and if you are splitting the balance on the joint credit card then you can each transfer your portion to a new credit card which you will each have applied for in your own names.

Following little tips like the one above can help you to keep better control over your finances. Your personal finances are an important issue and one you should always put a little time into. Have a read through some of the other articles on this site that cover financial topics such as loans and savings accounts. A variety of types of savings accounts and loans are available to suit a variety of different individual circumstances but it takes time to look into these. As with choosing a credit card or changing your credit card when your circumstances change these important things warrant the time required.


Let us keep you updated with all the latest financial products and services.

Home | Contact | About Us | Terms and Conditions | Privacy Policy | Sitemap

Credit Cards | Loans | Business Finance | Insurance | Debt Solutions | PPI | Bank Accounts | Financial Information