Institutions that allow joint account credit cards

Information verified correct on September 27th, 2016
joint credit card holders

Are you looking to open a joint credit card account with your partner? Discover which banks offer joint accounts and how you can get one.

A joint account credit card is a credit card held under the name of two people with equal status. Both cardholders have equal access to all the functions and benefits of the credit card account, and both are jointly liable for all debt on the account. The issuer considers the income and credit ratings of both parties during the application process.

Comparison between institutions that allow joint-account holders and those that don’t

Banks that allow joint-account holdersBanks that don’t allow joint-account holders
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banksa-transparent-logoamex-sml-logo
community-first-sml-logoNAB
bank-of-melbourne-sml-logoanz-sml-logo
Peoples Choice Credit Union virgin-money-sml-logo
heritage-bank-logo2macquarie-bank-sml-logo
Bank Australia Westpac
lombard-sml-logocommonwealth-bank-sml-logo
Hume Banklatitude-financial-logo
bendigo-logohsbc-sml-logo
 
IMB
bankwest-sml-logo
Jetstar
suncorp-bank-sml-logo
Woolworths Everyday Money
me-bank-sml-logo
CUA

What are the pros and cons of a joint credit card account?

Pros

  • Improves chances of application success. Where one of the account holders has a poorer credit score and credit history, a joint account credit card application improves your chances of obtaining credit on more favourable terms. This is because the credit card provider will assess both applicants jointly, and a strong credit score can balance out the weaker one.
  • Increases your credit limit. Similarly, because both applicants are jointly considered, the combined income of two usually results in a higher credit limit than you’d otherwise get as individual credit cardholders.
  • Can improve your credit score. When approved, the joint account can help repair the credit score if one person had a weaker credit rating. This is an effective way of getting you out of a bad credit score rut, where the bad score could lead to credit application rejection, which leads to a worse score and even more rejection. Learn more for ways on how to improve your credit rating.
  • Reduces bills. Having a joint credit card account means you get one bill each month instead of two or more. This is administratively efficient, and also saves on costs such as annual fees.
  • Simplifies finance management. Sharing a joint account means you only have to manage one set of finances instead of two. This can be very helpful with budgeting, expenditure control and planning.

Cons

  • Application risks. If one of the account holders has a terrible credit score and credit history, the joint account credit card application may be hindered. This is because the credit card provider will assess both applicants jointly and the bad credit score can outweigh the good one. In this case, the result could be a rejection for both applicants and a black mark on both your credit reports. Learn more about good and bad credit ratings.
  • Overspending. With two people spending on one card simultaneously, the possibility of going over your credit limit is doubled. If you’re not careful to track your transactions and current balance, you could easily max out your card and attract unwanted fees for doing so.
  • Shared debt. By sharing your liability on the joint account credit card, you run the risk of taking on debt that is not your own. If one party is not able to manage spending and repayments responsibly, both cardholders will suffer the consequences for it – including possible legal repercussions and a bad credit rating.

Joint account credit cards are a handy tool for couples who want to share a budget and take on the equal responsibility of a credit account. However, as not every bank offers joint bank accounts, you’ll need to compare your options to determine which card is right for you and your partner.

Frequently asked questions

What’s the difference between a joint account credit card and a supplementary credit card?

Both account holders in a joint credit card account are legally liable for amounts owing on the account. A supplementary cardholder on the other hand is merely an “authorised user” and has zero liability for any debt owing on the credit card. In this instance, only the primary cardholder is responsible for amounts owed, and only the primary cardholder can make decisions on the account.

Who earns and enjoys the membership rewards on a joint account credit card?

Unlike a supplementary card – where the supplementary cardholder earns rewards which are accrued to the primary cardholder – both account holders in a joint credit card account have access to any rewards available on the joint account.

Must you be married to apply for a joint account credit card?

No. You can apply for a joint account credit card with literally anyone who satisfies the bank’s requirements. Just make sure they are trustworthy for your own sake.

Do you need the consent of both account holders when closing off a joint account credit card?

In general, yes. Both account holders need to consent to closing a joint account. An exception to this is when one account holder passes on. You should contact your card issuer to discuss your particular circumstances and specific account details.

Comparison of credit cards which allow joint applications

Rates last updated September 27th, 2016.

St.George Vertigo Visa

Balance transfer has been extended to 29 September 2016 + 1% for 12 months on purchases.

June 24th, 2016

Bank of Melbourne Vertigo Visa Credit Card

Purchase offer changed from 0.99% for 4 months to 1% for 12 months, valid until 29 September 2016.

June 24th, 2016

Bank of Melbourne Vertigo Platinum

Purchase offer changed from 0.99% for 4 months to 1% for 12 months, valid until 29 September 2016.

June 24th, 2016

View latest updates

Jonathan Choi Jonathan
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
St.George Amplify Platinum
This card features a balance transfer rate of 12% p.a. for 18 months, 1% p.a. for 12 months on purchases and an annual fee waiver for the first year.
1% p.a. for 12 months (reverts to 19.49% p.a.) 0% p.a. for 18 months $0 p.a. annual fee for the first year ($99 p.a. thereafter) Go to site More info
Bank of Melbourne Vertigo Platinum
A platinum card with a low balance transfer offer of 0% p.a. interest for 20 months and 1% p.a. for 12 months on purchases combined with complimentary insurance covers.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Enjoy a low annual fee combined with 0% p.a. balance transfer offer for 18 months and 1% p.a. for 12 months on purchases.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
BankSA Vertigo Visa
A low interest rate card with a low annual fee, a long term balance transfer offer and an introductory offer of 1% p.a. for 12 months on purchases.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
Lombard 180 Card
Get 6 months interest-free on purchases of $250 or more, up to 55 interest-free days on purchases under $250.
0% p.a. for 6 months (reverts to 22.99% p.a.) 0% p.a. for 6 months with 1.5% balance transfer fee $99 p.a. More info
Teachers Mutual Bank Credit Card
No annual fee on your card plus a low interest rate on purchases.
7.9% p.a. for 6 months (reverts to 11.50% p.a.) $0 p.a. More info
Hunter United Visa Credit Card
Enjoy a low offer of for months on balance transfers. Plus a low annual fee of $59 p.a.
11.49% p.a. $59 p.a. More info
Bendigo Bank Black Basic Credit Card
Features a low annual fee and interest rate and get up to 44 interest-free days.
12.24% p.a. $45 p.a. More info
Bendigo Bank Ready Red Credit Card
Enjoy up to 44 interest free days after a purchase and no interest will be charged.
19.74% p.a. $45 p.a. More info
Bendigo Bank Platinum Credit Card
Get rewarded for every dollar spent plus up to 55 days interest free on your purchases.
18.99% p.a. $119 p.a. More info
Latitude 'Go' MasterCard
An everyday credit card with no annual fee plus you get free access to the GO Rewards program.
22.74% p.a. $0 p.a. More info
Latitude Eco MasterCard
An environment-friendly credit option with a low balance transfer offer of 0% p.a. for 6 months, fixed interest rates and flexible repayments.
22.49% p.a. 0% p.a. for 6 months $49 p.a. More info
Latitude MasterCard
Features low credit limits and annual fees, receive up to days interest free and 24.5% p.a. annual percentage rate for purchases and cash.
24.50% p.a. $69 p.a. More info
Bank Australia Visa Credit Card
$0 annual fee ever life and a long interest-free period to pay off your balance.
12.39% p.a. $0 p.a. More info
Hume Visa Value Credit Card
Enjoy a competitive low rate, no annual fee and up to 55 days interest free on purchases.
13.15% p.a. $0 p.a. More info
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Jacob Joseph

Jacob is a writer and video journalist with finder.com.au. Credit cards, personal loans and savings accounts are his bread and butter, and he likes nothing more helping people understand the sometimes overly complex world of personal finance.

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6 Responses to Institutions that allow joint account credit cards

  1. Default Gravatar
    Curious | October 2, 2015

    Hi

    What rules apply regarding cancelling a joint credit card in Australia? Can one of the two joint card holders cancel the credit card or do you need the other person’s consent to cancel the joint card?

    Thanks

    • Staff
      Sally | October 2, 2015

      Hello,

      Thanks for your question.

      The conditions of account closure will depend on the card you have and the bank you’re with.

      Generally though, you can’t close a joint account without the permission of both account holders.

      You may wish to get in touch with your credit card issuer to discuss your options in further detail.

      I hope this has helped.

      Thanks,

      Sally

  2. Default Gravatar
    Carolyn | January 9, 2015

    Could you confirm that this list is up to date in terms of which institutions have a joint credit card facility? Thanks

    • Staff
      Jonathan | January 14, 2015

      Hi Carolyn,

      Thanks for your question!

      We can confirm that the current list is up to date. While we do our best to provide the most accurate and up-to-date information, there are ongoing updates to our pages to ensure this accuracy is maintained.

      I hope this has helped.

      Cheers,

      Jonathan

  3. Default Gravatar
    sandeep | October 22, 2014

    Hi,i gt anz credit card with my wife as additional card holder she gt credit card from st george bank can she do balance transfer of anz card,thx

    • Staff
      Elizabeth | October 23, 2014

      Hi Sandeep,

      Thanks for your question.

      Your wife will be able to apply for a balance transfer credit card with St George and bring over the balance from the ANZ card. When she applies for the St George card she will only be asked for the credit card number, so whoever’s name the account is in will not matter.

      I hope this has helped.

      Thanks,

      Elizabeth

Credit Cards Comparison

Rates last updated September 27th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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