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What Happens to Our Credit Cards in Our Divorce?


As a married couple, you may share credit cards as a portion of your shared finances. As you continue dividing your assets, you may be concerned about what will happen to your credit cards and rewards points for cards you share with your spouse. Our Pasadena asset division attorneys at Gille Kaye Law Group, PC share what you should know about joint credit cards and divorce.

Paying Off Balances

If you have any credit card debt, it will be included in your division of assets process and divided accordingly. If you have been assigned a portion of credit card debt, you need to create a schedule to pay off the debt so you can close your credit account and fulfill your divorce obligations. Remember to pay your balance on time, as missed or late payments can affect your credit score.

Removing Authorized Users

If you have any credit cards with your spouse as an authorized user, you should call your creditor and ask them to remove your spouse from the account. This can help you retain the cards following your divorce and keep those valuable rewards points, as well as your line of credit.

When you remove authorized users from your account, you can also request a new credit card with changed payment information in case your spouse has your credit card information saved. While learning your new payment information may be inconvenient, changing this with your credit card company can limit unauthorized access.

Closing Accounts

For accounts in which you cannot remove your spouse as an authorized user or which you will not qualify on your own, you will need to close the account so neither party can access it. Closing your account itself can impact your credit score, as the closed account will stay on your credit report for up to 10 years after your closing date.

To close your credit account, you will need to first ensure that your balance is $0 and then call your creditor. While it is possible to close a credit account without paying off your entire balance, it is not recommended to do so.

Gille Kaye Law Group, PC Divorce Attorneys

Divorce can be your first step to financial independence. As you navigate the process and start to prepare your finances for your next chapter, you may need guidance on how to handle shared credit cards and accounts. Our Gille Kaye Law Group, PC attorneys are experienced in handling complicated matters, such as intertwined bank and credit accounts.

Are you divorcing and unsure of how to handle your credit cards? Schedule a consultation with our team to learn more about how we can guide you and your finances through the process by calling (626) 340-0955.

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